WEX Inc. (NYSE:WEX) Shares Purchased by Isthmus Partners LLC

Isthmus Partners LLC raised its stake in WEX Inc. (NYSE:WEX) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,987 shares of the business services provider’s stock after acquiring an additional 101 shares during the quarter. Isthmus Partners LLC’s holdings in WEX were worth $312,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in WEX by 108.4% during the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after acquiring an additional 129 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of WEX by 263.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 491 shares of the business services provider’s stock worth $86,000 after purchasing an additional 356 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of WEX during the fourth quarter worth $7,807,000. Raymond James Financial Inc. acquired a new stake in shares of WEX during the fourth quarter worth $12,444,000. Finally, Amundi grew its position in shares of WEX by 493.1% in the fourth quarter. Amundi now owns 15,200 shares of the business services provider’s stock valued at $2,657,000 after purchasing an additional 12,637 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at WEX

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

WEX Price Performance

WEX opened at $150.75 on Monday. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $217.47. The company has a 50 day moving average of $139.72 and a two-hundred day moving average of $149.88. The company has a market cap of $5.16 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.96 and a beta of 1.23. 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) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, beating 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 quarter in the previous year, the business posted $3.46 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. On average, analysts expect that WEX Inc. will post 14.09 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on WEX. UBS Group reduced their target price on WEX from $172.00 to $138.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Oppenheimer initiated coverage on shares of WEX in a report on Thursday, May 15th. They set a “market perform” rating on the stock. Wells Fargo & Company lowered their target price on shares of WEX from $160.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Finally, Jefferies Financial Group upped their price target 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. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, WEX has an average rating of “Hold” and a consensus price target of $176.90.

WEX Company 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.