Beverly Hills Private Wealth LLC Boosts Stock Holdings in WEX Inc. (NYSE:WEX)

Beverly Hills Private Wealth LLC increased its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 726.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,395 shares of the business services provider's stock after acquiring an additional 12,653 shares during the period. Beverly Hills Private Wealth LLC's holdings in WEX were worth $2,260,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Investment Management Corp VA ADV acquired a new stake in shares of WEX during the 4th quarter valued at about $25,000. State of Wyoming acquired a new stake in shares of WEX during the 4th quarter valued at about $35,000. Jones Financial Companies Lllp grew its position in shares of WEX by 108.4% during the 4th 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 period. Farther Finance Advisors LLC grew its position in shares of WEX by 161.5% during the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after acquiring an additional 168 shares during the period. Finally, Quadrant Capital Group LLC grew its position in shares of WEX by 72.2% during the 4th 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 period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

WEX Price Performance

Shares of WEX stock traded up $3.27 on Thursday, hitting $154.37. 257,703 shares of the company were exchanged, compared to its average volume of 580,255. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 3.00 and a beta of 1.23. The company has a 50-day moving average price of $138.54 and a 200 day moving average price of $150.46. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $217.47. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.06.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings data 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 37.90% and a net margin of 12.07%. The firm had revenue of $636.60 million for the quarter, compared to analysts' expectations of $631.42 million. During the same period in the prior year, the firm posted $3.46 earnings per share. The firm's quarterly revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts predict that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WEX shares. UBS Group lowered their price objective on WEX from $172.00 to $138.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company lowered their price objective on WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group lifted their price objective on WEX from $130.00 to $135.00 and gave the stock a "hold" rating in a report on Tuesday, May 27th. Finally, Oppenheimer started coverage on WEX in a report on Thursday, May 15th. They issued a "market perform" rating on the stock. 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, the company presently has a consensus rating of "Hold" and an average price target of $176.90.

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.