Eagle Rock Investment Company LLC Boosts Stake in WEX Inc. (NYSE:WEX)

Eagle Rock Investment Company LLC lifted its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 95.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,205 shares of the business services provider's stock after purchasing an additional 4,971 shares during the period. Eagle Rock Investment Company LLC's holdings in WEX were worth $1,602,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. CIBC Asset Management Inc lifted its position in shares of WEX by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider's stock worth $225,000 after purchasing an additional 65 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of WEX by 25.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock worth $56,000 after purchasing an additional 66 shares during the last quarter. Xponance Inc. lifted its position in shares of WEX by 1.4% during the fourth quarter. Xponance Inc. now owns 4,864 shares of the business services provider's stock worth $853,000 after purchasing an additional 68 shares during the last quarter. Truvestments Capital LLC lifted its position in shares of WEX by 4.9% during the fourth quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider's stock worth $296,000 after purchasing an additional 78 shares during the last quarter. Finally, Isthmus Partners LLC lifted its position in shares of WEX by 6.1% during the fourth quarter. Isthmus Partners LLC now owns 1,886 shares of the business services provider's stock worth $331,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 97.47% of the company's stock.

WEX Price Performance

Shares of NYSE:WEX opened at $138.54 on Friday. The firm's 50 day moving average is $130.68 and its two-hundred day moving average is $156.17. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $217.47. The firm has a market capitalization of $4.74 billion, a P/E ratio of 18.47, a PEG ratio of 2.06 and a beta of 1.22. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.40 by $0.11. WEX had a net margin of 11.78% and a return on equity of 32.35%. The company had revenue of $636.60 million for the quarter, compared to analyst estimates of $631.42 million. During the same quarter last year, the business earned $3.46 earnings per share. WEX's revenue was down 2.5% compared to the same quarter last year. Analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current year.

Wall Street Analyst Weigh In

WEX has been the topic of several research analyst reports. Oppenheimer initiated coverage on shares of WEX in a research report on Thursday, May 15th. They set a "market perform" rating on the stock. Mizuho dropped their price objective on shares of WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. Barclays dropped their price objective on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Monday, February 10th. Jefferies Financial Group increased their price objective on shares of WEX from $130.00 to $135.00 and gave the stock a "hold" rating in a research note on Tuesday, May 27th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of WEX from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $176.90.

Insider Buying and Selling at WEX

In other news, CAO Jennifer Kimball sold 1,400 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $131.08, for a total value of $183,512.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,177 shares in the company, valued at $416,441.16. This trade represents a 30.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Melissa D. Smith acquired 3,721 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was bought at an average price of $134.57 per share, with a total value of $500,734.97. Following the completion of the acquisition, the chief executive officer now directly owns 101,182 shares of the company's stock, valued at approximately $13,616,061.74. This represents a 3.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

WEX Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.

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