Deutsche Bank AG Purchases 6,677 Shares of WEX Inc. (NYSE:WEX)

Deutsche Bank AG raised its position in WEX Inc. (NYSE:WEX - Free Report) by 48.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 20,324 shares of the business services provider's stock after buying an additional 6,677 shares during the period. Deutsche Bank AG owned about 0.05% of WEX worth $3,563,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC boosted its holdings in WEX by 38.4% in the third quarter. Barclays PLC now owns 21,535 shares of the business services provider's stock valued at $4,516,000 after acquiring an additional 5,972 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in WEX during the 4th quarter valued at about $1,168,000. Hennion & Walsh Asset Management Inc. lifted its position in WEX by 16.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,292 shares of the business services provider's stock valued at $577,000 after purchasing an additional 455 shares during the period. Merit Financial Group LLC bought a new position in shares of WEX in the 4th quarter valued at about $200,000. Finally, UMB Bank n.a. boosted its stake in shares of WEX by 552.5% in the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock valued at $46,000 after purchasing an additional 221 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Trading Down 3.0%

WEX stock traded down $4.07 during midday trading on Friday, hitting $133.21. 399,752 shares of the company's stock were exchanged, compared to its average volume of 563,977. WEX Inc. has a one year low of $110.45 and a one year high of $217.47. 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 company has a market cap of $4.56 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The stock's fifty day moving average price is $135.23 and its 200-day moving average price is $159.62.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.11. WEX had a return on equity of 32.35% and a net margin of 11.78%. The business had revenue of $636.60 million for the quarter, compared to analysts' expectations of $631.42 million. During the same quarter in the previous year, the business posted $3.46 EPS. WEX's revenue for the quarter was down 2.5% on a year-over-year basis. Research analysts predict that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on WEX shares. Wells Fargo & Company cut their price objective on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. 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. UBS Group reduced their price target on WEX from $172.00 to $138.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Bank of America cut WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Finally, Robert W. Baird set a $186.00 price objective on WEX in a report on Tuesday, February 18th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $182.40.

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.