9,011 Shares in WEX Inc. (NYSE:WEX) Bought by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC acquired a new stake in shares of WEX Inc. (NYSE:WEX) during the fourth quarter, HoldingsChannel reports. The fund acquired 9,011 shares of the business services provider’s stock, valued at approximately $1,580,000.

Several other institutional investors have also added to or reduced their stakes in WEX. CIBC Asset Management Inc increased its position in shares of WEX by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock valued at $225,000 after buying an additional 65 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after acquiring an additional 66 shares during the period. Xponance Inc. raised its position in shares of WEX by 1.4% in the 4th quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock worth $853,000 after acquiring an additional 68 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of WEX by 0.6% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock valued at $1,959,000 after purchasing an additional 70 shares during the period. Finally, Truvestments Capital LLC boosted its position in shares of WEX by 4.9% during the fourth quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 78 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

WEX Stock Performance

WEX stock opened at $154.69 on Monday. The stock’s 50 day simple moving average is $162.27 and its 200 day simple moving average is $179.13. The company has a current ratio of 1.02, a quick ratio of 1.04 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 $6.00 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX) last announced 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%. As a group, research analysts forecast that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WEX has been the subject of several recent research reports. Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Robert W. Baird set a $186.00 price objective on shares of WEX in a research note on Tuesday, February 18th. Mizuho cut their price objective on shares of WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Wells Fargo & Company lowered their target price on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Finally, Jefferies Financial Group upped their price target on WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $187.80.

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.