International Assets Investment Management LLC Raises Holdings in WEX Inc. (NYSE:WEX)

International Assets Investment Management LLC raised its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 19,044.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,992 shares of the business services provider's stock after buying an additional 35,804 shares during the quarter. International Assets Investment Management LLC owned about 0.08% of WEX worth $7,002,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in WEX by 3.2% during the first quarter. Vanguard Group Inc. now owns 4,196,239 shares of the business services provider's stock valued at $748,819,000 after buying an additional 131,664 shares during the period. BlackRock Inc. increased its holdings in shares of WEX by 1.2% during the first quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider's stock valued at $732,950,000 after acquiring an additional 49,480 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of WEX by 4.2% during the first quarter. Wellington Management Group LLP now owns 4,101,566 shares of the business services provider's stock valued at $731,925,000 after acquiring an additional 164,902 shares in the last quarter. Morgan Stanley increased its holdings in shares of WEX by 342.4% during the fourth quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider's stock valued at $337,102,000 after acquiring an additional 1,594,294 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of WEX by 3.0% during the first quarter. JPMorgan Chase & Co. now owns 1,336,884 shares of the business services provider's stock valued at $245,840,000 after acquiring an additional 39,312 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Stock Performance

Shares of WEX stock traded down $2.90 during trading hours on Monday, reaching $232.98. 173,574 shares of the stock traded hands, compared to its average volume of 301,443. The company has a 50 day moving average price of $227.61 and a 200 day moving average price of $201.30. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 37.82, a P/E/G ratio of 1.53 and a beta of 1.59. WEX Inc. has a one year low of $161.95 and a one year high of $244.04. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.29 by ($0.15). The firm had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. On average, equities research analysts expect that WEX Inc. will post 13.51 earnings per share for the current fiscal year.

Insider Buying and Selling at WEX

In other news, SVP Sara Trickett sold 887 shares of WEX stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $224.61, for a total transaction of $199,229.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Robert Joseph Deshaies sold 1,500 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $221.85, for a total value of $332,775.00. Following the transaction, the chief operating officer now directly owns 5,570 shares of the company's stock, valued at approximately $1,235,704.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Sara Trickett sold 887 shares of the business's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The disclosure for this sale can be found here. Insiders sold a total of 69,433 shares of company stock worth $14,708,896 in the last three months. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WEX has been the subject of several analyst reports. Jefferies Financial Group raised their price target on WEX from $235.00 to $240.00 and gave the company a "hold" rating in a report on Friday. Barclays raised their price target on WEX from $240.00 to $255.00 and gave the company an "overweight" rating in a report on Monday, February 12th. Mizuho raised their price target on WEX from $225.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, February 13th. TheStreet upgraded WEX from a "c" rating to a "b" rating in a report on Thursday, February 8th. Finally, Evercore ISI lifted their price objective on WEX from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Tuesday, March 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $235.00.

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.