Schwab Charles Investment Management Inc. lifted its stake in shares of WEX Inc (NYSE:WEX) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 206,735 shares of the business services provider’s stock after purchasing an additional 15,109 shares during the period. Schwab Charles Investment Management Inc. owned 0.48% of WEX worth $23,200,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of WEX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in WEX by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,634 shares of the business services provider’s stock valued at $587,000 after buying an additional 16 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in WEX by 0.8% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 6,681 shares of the business services provider’s stock valued at $592,000 after buying an additional 53 shares in the last quarter. Russell Investments Group Ltd. grew its stake in WEX by 6.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,967 shares of the business services provider’s stock valued at $205,000 after buying an additional 122 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in WEX by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,850 shares of the business services provider’s stock valued at $193,000 after buying an additional 162 shares in the last quarter. Finally, Commerce Bank grew its stake in WEX by 6.9% in the 2nd quarter. Commerce Bank now owns 3,104 shares of the business services provider’s stock valued at $324,000 after buying an additional 200 shares in the last quarter.

In other WEX news, SVP Hilary A. Rapkin sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $115.00, for a total value of $287,500.00. Following the completion of the transaction, the senior vice president now directly owns 15,224 shares of the company’s stock, valued at approximately $1,750,760. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Melissa D. Smith sold 3,333 shares of the firm’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $115.00, for a total transaction of $383,295.00. Following the completion of the transaction, the chief executive officer now directly owns 67,047 shares of the company’s stock, valued at $7,710,405. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,707 shares of company stock valued at $25,305,945. Insiders own 9.00% of the company’s stock.

Shares of WEX Inc (NYSE:WEX) traded up $2.38 during trading hours on Friday, reaching $131.31. 516,511 shares of the company’s stock traded hands, compared to its average volume of 381,456. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 0.69. WEX Inc has a 1 year low of $97.26 and a 1 year high of $131.89. The company has a market cap of $5,740.00, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 1.84 and a beta of 1.87.

WEX (NYSE:WEX) last announced its quarterly earnings results on Wednesday, November 1st. The business services provider reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.14. WEX had a net margin of 7.09% and a return on equity of 13.16%. The firm had revenue of $324.00 million during the quarter, compared to the consensus estimate of $312.57 million. During the same period last year, the firm earned $1.25 EPS. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. sell-side analysts forecast that WEX Inc will post 4.9 earnings per share for the current fiscal year.

WEX declared that its Board of Directors has approved a stock buyback plan on Tuesday, September 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

WEX has been the subject of a number of recent research reports. Raymond James Financial initiated coverage on shares of WEX in a research note on Friday, August 25th. They issued an “outperform” rating and a $115.00 price objective for the company. BidaskClub upgraded shares of WEX from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Credit Suisse Group reiterated an “outperform” rating on shares of WEX in a research note on Tuesday, September 5th. Goldman Sachs Group upgraded shares of WEX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $114.00 to $126.00 in a research note on Monday, September 11th. Finally, Zacks Investment Research lowered shares of WEX from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $127.67.

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About WEX

WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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