Lifestyle Asset Management Inc. Buys 443 Shares of WEX Inc. (NYSE:WEX)

Lifestyle Asset Management Inc. increased its stake in WEX Inc. (NYSE:WEX) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,913 shares of the business services provider’s stock after buying an additional 443 shares during the period. Lifestyle Asset Management Inc.’s holdings in WEX were worth $1,030,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in shares of WEX in the 2nd quarter worth about $33,000. Quarry LP grew its holdings in WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after purchasing an additional 165 shares during the period. Blue Trust Inc. increased its stake in shares of WEX by 456.1% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 187 shares in the last quarter. Covestor Ltd lifted its holdings in shares of WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 131 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of WEX by 40.7% in the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after purchasing an additional 87 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Stock Performance

WEX opened at $183.90 on Friday. The company has a 50 day simple moving average of $198.22 and a two-hundred day simple moving average of $190.96. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $7.32 billion, a P/E ratio of 23.34, a PEG ratio of 1.47 and a beta of 1.57. WEX Inc. has a 1-year low of $165.51 and a 1-year high of $244.04.

WEX (NYSE:WEX) last issued its earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $3.82 by $0.53. The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. WEX’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.44 EPS. Equities analysts forecast that WEX Inc. will post 13.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wells Fargo & Company reduced their price objective on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Robert W. Baird cut their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wolfe Research cut shares of WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. William Blair upgraded shares of WEX to a “strong-buy” rating in a report on Friday, July 26th. Finally, Bank of America boosted their price objective on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, WEX has a consensus rating of “Moderate Buy” and an average target price of $235.91.

Insider Buying and Selling

In other news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Robert Joseph Deshaies sold 1,651 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the completion of the transaction, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

About WEX

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.