Tower Research Capital LLC TRC grew its stake in shares of WEX Inc (NYSE:WEX) by 826.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,352 shares of the business services provider’s stock after buying an additional 2,990 shares during the quarter. Tower Research Capital LLC TRC’s holdings in WEX were worth $673,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Sowell Financial Services LLC purchased a new stake in shares of WEX during the 3rd quarter valued at $410,000. Allianz Asset Management GmbH raised its position in shares of WEX by 115.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 68,597 shares of the business services provider’s stock valued at $13,771,000 after buying an additional 36,827 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of WEX by 2.6% during the 3rd quarter. William Blair Investment Management LLC now owns 1,054,791 shares of the business services provider’s stock valued at $211,760,000 after buying an additional 26,661 shares in the last quarter. SVA Plumb Wealth Management LLC raised its position in shares of WEX by 19.1% during the 3rd quarter. SVA Plumb Wealth Management LLC now owns 19,594 shares of the business services provider’s stock valued at $3,934,000 after buying an additional 3,144 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of WEX during the 3rd quarter valued at $249,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of WEX from a “hold” rating to a “buy” rating and set a $211.00 price objective on the stock in a research report on Saturday, October 13th. Wells Fargo & Co upgraded shares of WEX from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $190.00 to $200.00 in a research report on Thursday, November 1st. ValuEngine cut shares of WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Barclays assumed coverage on shares of WEX in a research report on Wednesday, November 14th. They set an “overweight” rating and a $211.00 price objective on the stock. Finally, Deutsche Bank restated a “buy” rating and set a $186.00 price objective on shares of WEX in a research report on Wednesday, November 21st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $198.50.

Shares of NYSE:WEX opened at $156.18 on Friday. The firm has a market capitalization of $6.63 billion, a P/E ratio of 33.23, a price-to-earnings-growth ratio of 1.35 and a beta of 1.69. WEX Inc has a 52 week low of $126.93 and a 52 week high of $203.49. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.50 and a current ratio of 1.50.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, October 31st. The business services provider reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.07. The company had revenue of $382.70 million for the quarter, compared to analysts’ expectations of $375.15 million. WEX had a net margin of 15.63% and a return on equity of 16.92%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.43 EPS. As a group, equities analysts forecast that WEX Inc will post 7.59 earnings per share for the current fiscal year.

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About WEX

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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