GAMMA Investing LLC Has $10.85 Million Stock Position in WEX Inc. (NYSE:WEX)

GAMMA Investing LLC lifted its stake in WEX Inc. (NYSE:WEX - Free Report) by 27,871.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,089 shares of the business services provider's stock after acquiring an additional 68,842 shares during the period. GAMMA Investing LLC owned approximately 0.18% of WEX worth $10,848,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Investment Management Corp VA ADV bought a new position in WEX during the fourth quarter valued at about $25,000. State of Wyoming acquired a new stake in shares of WEX during the 4th quarter worth approximately $35,000. Jones Financial Companies Lllp increased its position 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 purchasing an additional 129 shares during the period. Quadrant Capital Group LLC raised its stake in shares of 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 purchasing an additional 114 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in WEX by 25.3% in 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 period. Institutional investors own 97.47% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on WEX shares. Wells Fargo & Company lowered their target price on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Oppenheimer started coverage on WEX in a research note on Thursday, May 15th. They issued a "market perform" rating on the stock. Jefferies Financial Group raised their target price on WEX from $130.00 to $135.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. UBS Group decreased their price target on WEX from $172.00 to $138.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Finally, Robert W. Baird set a $186.00 price objective on WEX in a research note on Tuesday, February 18th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, WEX currently has an average rating of "Hold" and a consensus target price of $176.90.

WEX Price Performance

WEX stock traded up $0.33 during midday trading on Monday, reaching $138.91. The company's stock had a trading volume of 493,545 shares, compared to its average volume of 570,176. The stock has a market cap of $4.76 billion, a PE ratio of 18.52, a price-to-earnings-growth 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 Inc. has a 52 week low of $110.45 and a 52 week high of $217.47. The business has a 50-day moving average price of $130.68 and a 200-day moving average price of $155.82.

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 analysts' consensus estimates of $3.40 by $0.11. WEX had a return on equity of 32.35% and a net margin of 11.78%. The firm had revenue of $636.60 million for the quarter, compared to analyst estimates of $631.42 million. During the same period last year, the firm posted $3.46 earnings per share. The business's revenue for the quarter was down 2.5% on a year-over-year basis. On average, sell-side analysts predict that WEX Inc. will post 14.09 EPS for the current year.

Insider Buying and Selling

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