Man Group plc Buys Shares of 51,104 WEX Inc. (NYSE:WEX)

Man Group plc purchased a new position in shares of WEX Inc. (NYSE:WEX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 51,104 shares of the business services provider's stock, valued at approximately $8,960,000. Man Group plc owned 0.13% of WEX at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its stake in WEX by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider's stock worth $225,000 after buying an additional 65 shares during the period. Smartleaf Asset Management LLC increased its stake in WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock worth $56,000 after buying an additional 66 shares during the period. Xponance Inc. increased its stake in WEX by 1.4% during the 4th quarter. Xponance Inc. now owns 4,864 shares of the business services provider's stock worth $853,000 after buying an additional 68 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its position in shares of WEX by 0.6% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider's stock worth $1,959,000 after purchasing an additional 70 shares during the last quarter. Finally, Truvestments Capital LLC increased its position in shares of WEX by 4.9% in the 4th 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. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Stock Performance

Shares of NYSE WEX traded down $4.07 during midday trading on Friday, hitting $133.21. The company's stock had a trading volume of 399,752 shares, compared to its average volume of 563,977. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $217.47. The firm's fifty day moving average price is $134.78 and its 200-day moving average price is $159.34. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The firm has a market cap of $4.56 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.06 and a beta of 1.26.

WEX (NYSE:WEX - Get Free Report) last posted 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. The business had revenue of $636.60 million during the quarter, compared to analyst estimates of $631.42 million. WEX had a net margin of 11.78% and a return on equity of 32.35%. The company's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $3.46 EPS. On average, sell-side analysts forecast that WEX Inc. will post 14.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Barclays dropped their target price on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a research report on Monday, February 10th. Robert W. Baird set a $186.00 target price on shares of WEX in a research report on Tuesday, February 18th. Bank of America downgraded shares of WEX from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. Finally, Mizuho dropped their target price on shares of WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a research report on Monday, February 10th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, WEX presently has a consensus rating of "Hold" and a consensus target price of $182.40.

WEX Company 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.