Wealth Enhancement Advisory Services LLC Has $1.25 Million Stock Position in WEX Inc. (NYSE:WEX)

Wealth Enhancement Advisory Services LLC reduced its position in WEX Inc. (NYSE:WEX - Free Report) by 37.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,981 shares of the business services provider's stock after selling 4,788 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in WEX were worth $1,253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WEX. Investment Management Corp VA ADV purchased a new position in shares of WEX in the 4th quarter valued at $25,000. State of Wyoming purchased a new position in shares of WEX in the fourth quarter valued at $35,000. Jones Financial Companies Lllp boosted its stake in shares of WEX by 108.4% during the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock valued at $43,000 after acquiring an additional 129 shares during the last quarter. Farther Finance Advisors LLC increased its stake in WEX by 161.5% in the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after purchasing an additional 168 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in WEX by 72.2% in the fourth quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider's stock valued at $48,000 after acquiring an additional 114 shares during the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at WEX

In related news, CEO Melissa D. Smith acquired 3,721 shares of the stock in a transaction on Thursday, May 29th. The stock was purchased at an average price of $134.57 per share, for a total transaction of $500,734.97. Following the transaction, the chief executive officer owned 101,182 shares of the company's stock, valued at $13,616,061.74. The trade was a 3.82% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer Kimball sold 1,400 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $131.08, for a total value of $183,512.00. Following the sale, the chief accounting officer directly owned 3,177 shares of the company's stock, valued at $416,441.16. This represents a 30.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WEX. Oppenheimer assumed coverage on shares of WEX in a report on Thursday, May 15th. They issued a "market perform" rating on the stock. Jefferies Financial Group raised their price objective on shares of WEX from $130.00 to $135.00 and gave the company a "hold" rating in a research note on Tuesday, May 27th. UBS Group decreased their target price on WEX from $172.00 to $138.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Wells Fargo & Company reduced their price objective on WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $176.90.

WEX Stock Performance

WEX traded down $0.49 during trading on Thursday, hitting $151.23. The stock had a trading volume of 210,668 shares, compared to its average volume of 580,649. WEX Inc. has a 12 month low of $110.45 and a 12 month high of $217.47. The firm has a market cap of $5.18 billion, a PE ratio of 19.49, a P/E/G ratio of 2.98 and a beta of 1.23. The company has a 50 day simple moving average of $136.89 and a 200-day simple moving average of $150.96. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.06.

WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.11. The firm had revenue of $636.60 million for the quarter, compared to the consensus estimate of $631.42 million. WEX had a net margin of 12.07% and a return on equity of 37.90%. The business's revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.46 earnings per share. Analysts expect that WEX Inc. will post 14.09 EPS for the current year.

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.