Ieq Capital LLC Makes New $2.57 Million Investment in WEX Inc. (NYSE:WEX)

Ieq Capital LLC acquired a new stake in WEX Inc. (NYSE:WEX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,657 shares of the business services provider’s stock, valued at approximately $2,570,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC lifted its position in WEX by 206.1% in the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after buying an additional 101 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of WEX in the 3rd quarter worth about $35,000. UMB Bank n.a. boosted its stake in shares of WEX by 552.5% during the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock worth $46,000 after purchasing an additional 221 shares during the period. Covestor Ltd boosted its stake in shares of WEX by 47.3% during the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after purchasing an additional 89 shares during the period. Finally, Brooklyn Investment Group bought a new position in WEX during the 3rd quarter valued at about $59,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Analysts Set New Price Targets

WEX has been the subject of several recent analyst reports. Wells Fargo & Company dropped their target price on WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. UBS Group dropped their price objective on WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Mizuho reduced their target price on WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Bank of America lowered shares of WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Finally, Barclays reduced their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, WEX currently has an average rating of “Hold” and an average target price of $199.73.

Insider Transactions at WEX

In other news, COO Robert Joseph Deshaies sold 175 shares of WEX stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the transaction, the chief operating officer now owns 7,582 shares of the company’s stock, valued at $1,436,334.08. The trade was a 2.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

WEX Trading Down 1.6 %

NYSE WEX opened at $150.48 on Friday. WEX Inc. has a one year low of $146.03 and a one year high of $244.04. 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 company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 2.06 and a beta of 1.58. The company’s 50-day simple moving average is $172.05 and its two-hundred day simple moving average is $184.13.

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

About WEX

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.