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

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

A number of other institutional investors have also modified their holdings of WEX. GAMMA Investing LLC grew its position in WEX by 27,871.3% during the 1st quarter. GAMMA Investing LLC now owns 69,089 shares of the business services provider's stock worth $10,848,000 after purchasing an additional 68,842 shares during the last quarter. LPL Financial LLC grew its position in WEX by 13.2% during the 4th quarter. LPL Financial LLC now owns 29,408 shares of the business services provider's stock worth $5,283,000 after purchasing an additional 3,439 shares during the last quarter. Pictet Asset Management Holding SA grew its position in WEX by 7.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,008 shares of the business services provider's stock worth $1,053,000 after purchasing an additional 393 shares during the last quarter. Smartleaf Asset Management LLC grew its position 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 purchasing an additional 66 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock worth $43,000 after purchasing an additional 129 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WEX. Oppenheimer began coverage on shares of WEX in a research report on Thursday, May 15th. They set a "market perform" rating on the stock. Jefferies Financial Group upped their price objective on shares of WEX from $130.00 to $135.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. Wells Fargo & Company dropped their price target 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. Finally, UBS Group dropped their price target on shares of WEX from $172.00 to $138.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, WEX has a consensus rating of "Hold" and a consensus target price of $176.90.

WEX Price Performance

NYSE WEX traded up $3.58 during mid-day trading on Tuesday, hitting $153.11. The stock had a trading volume of 60,632 shares, compared to its average volume of 579,885. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $217.47. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 2.97 and a beta of 1.23. The company has a 50 day simple moving average of $137.70 and a 200 day simple moving average of $150.43. 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, topping the consensus estimate of $3.40 by $0.11. WEX had a net margin of 12.07% and a return on equity of 37.90%. The business had revenue of $636.60 million for the quarter, compared to analyst estimates of $631.42 million. During the same period in the previous year, the firm earned $3.46 EPS. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts forecast that WEX Inc. will post 14.09 EPS for the current fiscal year.

Insider Activity

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