WEX Inc. (NYSE:WEX) Holdings Boosted by Foyston Gordon & Payne Inc

Foyston Gordon & Payne Inc grew its holdings in WEX Inc. (NYSE:WEX) by 878.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,520 shares of the business services provider’s stock after purchasing an additional 17,524 shares during the period. Foyston Gordon & Payne Inc’s holdings in WEX were worth $4,094,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC grew its stake in WEX by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock valued at $873,251,000 after acquiring an additional 25,365 shares in the last quarter. FMR LLC grew its position in WEX by 8.8% during the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock valued at $326,237,000 after purchasing an additional 125,262 shares in the last quarter. State Street Corp increased its stake in WEX by 0.3% in the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock valued at $260,265,000 after buying an additional 3,882 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in WEX by 5.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock worth $173,561,000 after buying an additional 48,182 shares in the last quarter. Finally, River Road Asset Management LLC boosted its stake in shares of WEX by 5.0% during the 3rd quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock valued at $151,103,000 after buying an additional 34,264 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Performance

NYSE:WEX opened at $183.04 on Tuesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50-day moving average is $191.72 and its 200-day moving average is $186.75. WEX Inc. has a 52-week low of $165.51 and a 52-week high of $244.04. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.45 and a beta of 1.57.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $3.82 by $0.53. The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $3.44 EPS. Equities research analysts anticipate that WEX Inc. will post 13.1 earnings per share for the current year.

Insider Buying and Selling at WEX

In other news, COO Robert Joseph Deshaies sold 175 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the sale, the chief operating officer now directly owns 7,582 shares in the company, valued at approximately $1,436,334.08. This represents a 2.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the transaction, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. This trade represents a 6.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on WEX shares. Wolfe Research lowered WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Jefferies Financial Group boosted their price target on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Robert W. Baird cut their price target on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Bank of America upped their price objective on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.91.

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.