WEX Inc. (NYSE:WEX) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its position in shares of WEX Inc. (NYSE:WEX) by 290.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 14,280 shares of the business services provider’s stock after acquiring an additional 10,625 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in WEX were worth $2,995,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in WEX by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock worth $1,847,000 after acquiring an additional 68 shares during the period. Ballentine Partners LLC lifted its position in WEX by 3.3% during the 2nd quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider’s stock worth $396,000 after acquiring an additional 72 shares during the period. GAMMA Investing LLC lifted its position in WEX by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after acquiring an additional 87 shares during the period. Covestor Ltd lifted its position in WEX by 47.3% during the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after acquiring an additional 89 shares during the period. Finally, Long Road Investment Counsel LLC raised its stake in shares of WEX by 0.4% during the 2nd quarter. Long Road Investment Counsel LLC now owns 26,699 shares of the business services provider’s stock valued at $4,729,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Insider Transactions at WEX

In other news, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total transaction of $299,937.17. Following the transaction, the chief operating officer now directly owns 7,757 shares in the company, valued at $1,409,214.19. The trade was a 17.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the transaction, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. This represents a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WEX shares. Jefferies Financial Group lifted their price objective on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Robert W. Baird reduced their price objective on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. William Blair upgraded WEX to a “strong-buy” rating in a research note on Friday, July 26th. 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 note on Friday, October 25th. Finally, Wolfe Research lowered WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.91.

WEX Price Performance

NYSE:WEX opened at $179.18 on Friday. WEX Inc. has a 12 month low of $165.51 and a 12 month high of $244.04. The stock has a 50 day moving average of $197.33 and a two-hundred day moving average of $189.15. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The firm has a market cap of $7.13 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 1.42 and a beta of 1.57.

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

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.