Earnest Partners LLC Boosts Stock Holdings in WEX Inc. $WEX

Key Points

• Earnest Partners LLC increased its stake in WEX Inc. by 2.6% in the first quarter, now owning approximately 895,406 shares valued at $140.6 million.
• WEX's stock currently has a market capitalization of $5.87 billion and a 12-month price range between $110.45 and $217.47.
• Analyst ratings indicate a consensus of Hold for WEX shares, with the average target price set at $179.82.

Earnest Partners LLC increased its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 895,406 shares of the business services provider's stock after purchasing an additional 22,672 shares during the period. Earnest Partners LLC owned approximately 2.61% of WEX worth $140,597,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in WEX by 1.0% during the first quarter. Envestnet Asset Management Inc. now owns 59,053 shares of the business services provider's stock worth $9,272,000 after purchasing an additional 578 shares in the last quarter. GAMMA Investing LLC raised its holdings in WEX by 27,871.3% during the first quarter. GAMMA Investing LLC now owns 69,089 shares of the business services provider's stock worth $10,848,000 after purchasing an additional 68,842 shares in the last quarter. Cerity Partners LLC raised its holdings in WEX by 88.5% during the first quarter. Cerity Partners LLC now owns 10,002 shares of the business services provider's stock worth $1,571,000 after purchasing an additional 4,695 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in WEX by 161.5% during the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock worth $44,000 after purchasing an additional 168 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in WEX by 69.8% during the first quarter. Blue Trust Inc. now owns 2,420 shares of the business services provider's stock worth $380,000 after purchasing an additional 995 shares in the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

WEX Stock Up 0.3%

WEX stock opened at $171.43 on Wednesday. The company's 50 day simple moving average is $160.28 and its 200-day simple moving average is $147.74. The firm has a market capitalization of $5.87 billion, a PE ratio of 21.67, a P/E/G ratio of 1.60 and a beta of 1.28. WEX Inc. has a 12 month low of $110.45 and a 12 month high of $217.47. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.04 and a quick ratio of 1.04.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Oppenheimer assumed coverage on shares of WEX in a report on Thursday, May 15th. They issued a "market perform" rating for the company. Mizuho increased their target price on shares of WEX from $150.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Jefferies Financial Group increased their target price on shares of WEX from $130.00 to $135.00 and gave the company a "hold" rating in a report on Tuesday, May 27th. William Blair reaffirmed a "market perform" rating on shares of WEX in a report on Friday, July 25th. Finally, Barclays increased their target price on shares of WEX from $135.00 to $170.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Three research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $179.82.

Insider Activity

In related news, insider Ann Elena Drew sold 1,931 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total transaction of $331,533.39. Following the sale, the insider owned 7,295 shares in the company, valued at approximately $1,252,478.55. This trade represents a 20.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jennifer Kimball sold 1,400 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $131.08, for a total transaction of $183,512.00. Following the sale, the chief accounting officer owned 3,177 shares in the company, valued at approximately $416,441.16. This trade represents a 30.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,206 shares of company stock worth $665,265 in the last three months. 1.40% of the stock is owned by insiders.

About WEX

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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