Coldstream Capital Management Inc. Acquires 191 Shares of WEX Inc. (NYSE:WEX)

Coldstream Capital Management Inc. grew its holdings in WEX Inc. (NYSE:WEX) by 11.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,835 shares of the business services provider’s stock after purchasing an additional 191 shares during the quarter. Coldstream Capital Management Inc.’s holdings in WEX were worth $377,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Venturi Wealth Management LLC raised its stake in WEX by 206.1% in the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after buying an additional 101 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of WEX in the 2nd quarter worth $33,000. Quarry LP raised its position in shares of WEX by 717.4% in the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after acquiring an additional 165 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of WEX by 456.1% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after purchasing an additional 187 shares during the last quarter. Finally, Covestor Ltd grew its stake in WEX by 47.3% in the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Analysts Set New Price Targets

WEX has been the subject of several analyst reports. Bank of America increased their price target on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group raised their target price on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price target on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Finally, Robert W. Baird dropped their target price on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, WEX has an average rating of “Moderate Buy” and an average price target of $235.91.

Insider Buying and Selling at WEX

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the sale, the chief operating officer now directly owns 7,582 shares of the company’s stock, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

WEX Stock Performance

Shares of WEX opened at $176.20 on Friday. The stock has a 50-day moving average of $189.33 and a two-hundred day moving average of $186.50. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $7.01 billion, a P/E ratio of 22.36, a P/E/G ratio of 1.39 and a beta of 1.57. WEX Inc. has a one year low of $165.51 and a one year high of $244.04.

WEX (NYSE:WEX) last released its earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. During the same quarter in the previous year, the company posted $3.44 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, research analysts predict that WEX Inc. will post 13.1 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.