Primecap Management Co. CA Purchases 23,690 Shares of WEX Inc. (NYSE:WEX)

Primecap Management Co. CA increased its position in shares of WEX Inc. (NYSE:WEX) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 315,280 shares of the business services provider’s stock after acquiring an additional 23,690 shares during the period. Primecap Management Co. CA owned approximately 0.79% of WEX worth $55,275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of WEX in the 3rd quarter worth $35,000. Jones Financial Companies Lllp increased its holdings in shares of WEX by 108.4% in the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after buying an additional 129 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of WEX by 552.5% in the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock worth $46,000 after buying an additional 221 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of WEX by 25.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after buying an additional 66 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of WEX in the 3rd quarter worth $59,000. Institutional investors own 97.47% of the company’s stock.

WEX Trading Down 1.6 %

Shares of WEX opened at $155.49 on Wednesday. The firm has a fifty day simple moving average of $165.84 and a two-hundred day simple moving average of $181.08. WEX Inc. has a twelve month low of $146.03 and a twelve month high of $244.04. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $6.04 billion, a P/E ratio of 20.73, a PEG ratio of 2.06 and a beta of 1.61.

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

Analyst Upgrades and Downgrades

WEX has been the topic of a number of research analyst reports. Robert W. Baird set a $186.00 price target on shares of WEX in a report on Tuesday, February 18th. Keefe, Bruyette & Woods cut their price objective on shares of WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Citigroup cut shares of WEX from a “buy” rating to a “neutral” rating and cut their price objective for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. Mizuho cut their price objective on shares of WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Finally, Jefferies Financial Group upped their price objective on shares of WEX from $180.00 to $190.00 and gave the company 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $195.73.

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.