WEX Inc. (NYSE:WEX) is Wisconsin Capital Management LLC’s 9th Largest Position

Wisconsin Capital Management LLC increased its stake in shares of WEX Inc. (NYSE:WEX) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,549 shares of the business services provider’s stock after purchasing an additional 926 shares during the quarter. WEX makes up 3.4% of Wisconsin Capital Management LLC’s holdings, making the stock its 9th largest position. Wisconsin Capital Management LLC owned 0.07% of WEX worth $5,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Watershed Asset Management L.L.C. increased its position in WEX by 15.6% during the 4th quarter. Watershed Asset Management L.L.C. now owns 1,529 shares of the business services provider’s stock valued at $297,000 after buying an additional 206 shares in the last quarter. GAMMA Investing LLC acquired a new position in WEX during the 4th quarter valued at about $27,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in WEX by 2.7% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock valued at $177,076,000 after buying an additional 22,865 shares in the last quarter. Duality Advisers LP acquired a new position in WEX during the 4th quarter valued at about $1,949,000. Finally, Handelsbanken Fonder AB increased its position in WEX by 2,524.0% during the 4th quarter. Handelsbanken Fonder AB now owns 163,844 shares of the business services provider’s stock valued at $31,876,000 after buying an additional 157,600 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Jagtar Narula sold 309 shares of the firm’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 owns 5,528 shares in the company, valued at $1,289,350.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Jennifer Kimball sold 574 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $222.24, for a total value of $127,565.76. Following the completion of the sale, the chief accounting officer now owns 1,297 shares of the company’s stock, valued at $288,245.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jagtar Narula sold 309 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total value of $72,071.16. Following the completion of the sale, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. 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 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

WEX Price Performance

WEX stock traded down $18.25 during mid-day trading on Thursday, reaching $215.07. 762,236 shares of the company’s stock were exchanged, compared to its average volume of 303,632. The company has a market cap of $8.98 billion, a price-to-earnings ratio of 35.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.59. The stock’s 50 day moving average is $230.87 and its 200 day moving average is $203.50. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. WEX Inc. has a 12-month low of $161.95 and a 12-month high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The business had revenue of $663.30 million for the quarter, compared to analysts’ expectations of $656.75 million. WEX had a return on equity of 31.33% and a net margin of 10.46%. On average, research analysts expect that WEX Inc. will post 13.55 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WEX shares. Citigroup upped their target price on WEX from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. TheStreet raised WEX from a “c” rating to a “b” rating in a report on Thursday, February 8th. Barclays increased their price objective on WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Truist Financial increased their price objective on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a report on Friday, February 9th. Finally, Jefferies Financial Group increased their price objective on WEX from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, April 12th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, WEX has an average rating of “Moderate Buy” and a consensus target price of $240.00.

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.