Proficio Capital Partners LLC Buys New Shares in WEX Inc. (NYSE:WEX)

Proficio Capital Partners LLC purchased a new position in WEX Inc. (NYSE:WEX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,531 shares of the business services provider’s stock, valued at approximately $7,807,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in WEX by 8.8% in the 4th quarter. Bank of New York Mellon Corp now owns 374,359 shares of the business services provider’s stock valued at $65,633,000 after buying an additional 30,395 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in WEX during the fourth quarter worth $702,000. Ieq Capital LLC bought a new position in shares of WEX in the fourth quarter valued at $2,570,000. Peregrine Capital Management LLC grew its holdings in shares of WEX by 1.8% during the fourth quarter. Peregrine Capital Management LLC now owns 48,304 shares of the business services provider’s stock valued at $8,469,000 after buying an additional 862 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of WEX by 390.0% during the fourth quarter. Venturi Wealth Management LLC now owns 735 shares of the business services provider’s stock worth $129,000 after acquiring an additional 585 shares in the last quarter. 97.47% of the stock is owned by institutional investors.

WEX Trading Down 0.4 %

Shares of WEX opened at $157.07 on Monday. The firm has a market cap of $6.10 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 2.06 and a beta of 1.58. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The business has a 50-day moving average of $170.52 and a 200 day moving average of $183.50. WEX Inc. has a fifty-two week low of $146.03 and a fifty-two week high of $244.04.

WEX (NYSE:WEX) last posted its earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. As a group, research analysts forecast that WEX Inc. will post 14.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Robert W. Baird set a $186.00 price target on WEX in a research note on Tuesday, February 18th. Citigroup downgraded WEX from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. William Blair reaffirmed a “market perform” rating on shares of WEX in a report on Thursday, February 6th. Barclays lowered their target price on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, WEX presently has an average rating of “Hold” and a consensus price target of $195.73.

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.