WEX Inc. (NYSE:WEX) Shares Purchased by Watershed Asset Management L.L.C.

Watershed Asset Management L.L.C. lifted its holdings in WEX Inc. (NYSE:WEX) by 15.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,529 shares of the business services provider’s stock after acquiring an additional 206 shares during the quarter. Watershed Asset Management L.L.C.’s holdings in WEX were worth $297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WEX. SG Americas Securities LLC increased its stake in shares of WEX by 16.6% in the third quarter. SG Americas Securities LLC now owns 1,711 shares of the business services provider’s stock worth $322,000 after acquiring an additional 244 shares during the period. RDA Financial Network grew its position in WEX by 40.4% during the third quarter. RDA Financial Network now owns 1,650 shares of the business services provider’s stock valued at $310,000 after buying an additional 475 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in WEX by 15.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 4,068 shares of the business services provider’s stock valued at $765,000 after buying an additional 547 shares during the period. Oak Thistle LLC acquired a new stake in WEX during the third quarter valued at $1,490,000. Finally, Wendell David Associates Inc. grew its position in WEX by 7.9% during the third quarter. Wendell David Associates Inc. now owns 1,189 shares of the business services provider’s stock valued at $224,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Truist Financial raised their price target on shares of WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, February 9th. StockNews.com lowered shares of WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Evercore ISI increased their price objective on shares of WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. William Blair reaffirmed an “outperform” rating on shares of WEX in a report on Thursday, February 8th. Finally, 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 report on Friday, April 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

WEX Price Performance

Shares of WEX stock traded up $3.36 on Tuesday, hitting $234.00. 219,247 shares of the company were exchanged, compared to its average volume of 296,374. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 38.00, a price-to-earnings-growth ratio of 1.49 and a beta of 1.59. The company has a 50-day moving average price of $230.06 and a 200 day moving average price of $202.94. WEX Inc. has a 1-year low of $161.95 and a 1-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) last issued its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.29 by ($0.15). The company had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. WEX had a return on equity of 31.33% and a net margin of 10.46%. As a group, sell-side analysts predict that WEX Inc. will post 13.55 earnings per share for the current fiscal year.

Insider Transactions at WEX

In related news, insider Ann Elena Drew sold 4,531 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total value of $987,893.93. Following the transaction, the insider now directly owns 3,653 shares in the company, valued at $796,463.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the transaction, the chief financial officer now directly owns 5,528 shares in the company, valued at $1,289,350.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ann Elena Drew sold 4,531 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $218.03, for a total value of $987,893.93. Following the completion of the transaction, the insider now owns 3,653 shares in the company, valued at $796,463.59. The disclosure for this sale can be found here. Insiders have sold a total of 28,326 shares of company stock worth $6,281,961 in the last ninety days. Insiders own 1.10% of the company’s stock.

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.