WEX Inc. (NYSE:WEX) Position Increased by Fisher Asset Management LLC

Fisher Asset Management LLC raised its position in shares of WEX Inc. (NYSE:WEX) by 168.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,896 shares of the business services provider’s stock after buying an additional 52,056 shares during the quarter. Fisher Asset Management LLC owned 0.21% of WEX worth $14,533,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WEX. State of Alaska Department of Revenue lifted its stake in WEX by 2.9% during the third quarter. State of Alaska Department of Revenue now owns 4,771 shares of the business services provider’s stock valued at $1,000,000 after buying an additional 135 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in WEX by 10.5% in the third quarter. First Trust Direct Indexing L.P. now owns 1,573 shares of the business services provider’s stock worth $330,000 after buying an additional 149 shares during the last quarter. New York State Common Retirement Fund boosted its position in WEX by 328.6% during the third quarter. New York State Common Retirement Fund now owns 127,570 shares of the business services provider’s stock worth $26,755,000 after purchasing an additional 97,807 shares during the period. Harbor Capital Advisors Inc. boosted its position in WEX by 111.4% during the third quarter. Harbor Capital Advisors Inc. now owns 24,869 shares of the business services provider’s stock worth $5,216,000 after purchasing an additional 13,104 shares during the period. Finally, QRG Capital Management Inc. bought a new stake in WEX during the third quarter worth approximately $219,000. 97.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WEX has been the subject of several research reports. Robert W. Baird set a $186.00 price objective on WEX in a research report on Tuesday, February 18th. Mizuho reduced their target price on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Keefe, Bruyette & Woods reduced their target price on WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Barclays reduced their target price on WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Finally, Jefferies Financial Group increased their price objective on WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $195.73.

WEX Stock Performance

WEX stock opened at $155.11 on Tuesday. The stock has a 50-day simple moving average of $170.52 and a 200 day simple moving average of $183.56. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. WEX Inc. has a 12-month low of $146.03 and a 12-month high of $244.04. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 2.06 and a beta of 1.58.

WEX (NYSE:WEX) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) 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%. On average, research analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

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.