Charles Schwab Investment Management Inc. Buys 6,506 Shares of WEX Inc. (NYSE:WEX)

Charles Schwab Investment Management Inc. raised its stake in WEX Inc. (NYSE:WEX - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 328,083 shares of the business services provider's stock after acquiring an additional 6,506 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.77% of WEX worth $63,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. VisionPoint Advisory Group LLC increased its stake in WEX by 74.7% during the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider's stock worth $27,000 after acquiring an additional 62 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of WEX during the 4th quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC lifted its position in WEX by 896.8% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the business services provider's stock worth $58,000 after acquiring an additional 278 shares in the last quarter. CWM LLC boosted its holdings in WEX by 15.6% in the 4th quarter. CWM LLC now owns 377 shares of the business services provider's stock worth $73,000 after acquiring an additional 51 shares during the period. Finally, Signaturefd LLC raised its stake in shares of WEX by 131.4% during the third quarter. Signaturefd LLC now owns 516 shares of the business services provider's stock valued at $97,000 after purchasing an additional 293 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of WEX from $250.00 to $275.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 26th. William Blair restated an "outperform" rating on shares of WEX in a report on Thursday, February 8th. Citigroup increased their target price on WEX from $240.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, April 17th. Jefferies Financial Group increased their price objective on shares of WEX from $235.00 to $240.00 and gave the company a "hold" rating in a research note on Friday, April 12th. Finally, Mizuho boosted their target price on shares of WEX from $225.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, February 13th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $240.00.

Insider Buying and Selling

In related news, insider Hilary A. Rapkin sold 5,800 shares of WEX stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $222.55, for a total transaction of $1,290,790.00. Following the transaction, the insider now directly owns 10,569 shares of the company's stock, valued at $2,352,130.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other WEX news, SVP Sara Trickett sold 734 shares of the firm's stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total value of $154,455.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hilary A. Rapkin sold 5,800 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $222.55, for a total transaction of $1,290,790.00. Following the completion of the transaction, the insider now directly owns 10,569 shares of the company's stock, valued at approximately $2,352,130.95. The disclosure for this sale can be found here. Insiders have sold a total of 32,157 shares of company stock valued at $7,090,562 over the last quarter. Corporate insiders own 1.10% of the company's stock.

WEX Stock Performance

WEX stock traded down $0.14 during mid-day trading on Thursday, hitting $203.51. 292,694 shares of the company's stock traded hands, compared to its average volume of 311,208. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.73. WEX Inc. has a one year low of $161.95 and a one year high of $244.04. The firm has a 50 day moving average price of $227.48 and a 200 day moving average price of $206.07. The company has a market cap of $8.53 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 1.20 and a beta of 1.60.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The business services provider reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.83 by $0.15. The business had revenue of $652.70 million for the quarter, compared to analysts' expectations of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. On average, equities analysts forecast that WEX Inc. will post 13.96 EPS for the current year.

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.