UBS Oconnor LLC Takes Position in WEX Inc (WEX)

UBS Oconnor LLC bought a new position in shares of WEX Inc (NYSE:WEX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 130,000 shares of the business services provider’s stock, valued at approximately $18,208,000. WEX comprises approximately 1.1% of UBS Oconnor LLC’s investment portfolio, making the stock its 25th biggest position. UBS Oconnor LLC owned approximately 0.30% of WEX at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WEX. Prudential Financial Inc. lifted its position in WEX by 7.6% in the 3rd quarter. Prudential Financial Inc. now owns 27,599 shares of the business services provider’s stock valued at $5,541,000 after acquiring an additional 1,950 shares in the last quarter. Rhumbline Advisers lifted its position in WEX by 1.9% in the 3rd quarter. Rhumbline Advisers now owns 95,945 shares of the business services provider’s stock valued at $19,262,000 after acquiring an additional 1,753 shares in the last quarter. Hartford Investment Management Co. lifted its position in WEX by 63.8% in the 3rd quarter. Hartford Investment Management Co. now owns 1,843 shares of the business services provider’s stock valued at $370,000 after acquiring an additional 718 shares in the last quarter. Bank of New York Mellon Corp lifted its position in WEX by 5.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 446,851 shares of the business services provider’s stock valued at $89,710,000 after acquiring an additional 23,169 shares in the last quarter. Finally, BlackRock Inc. lifted its position in WEX by 6.8% in the 3rd quarter. BlackRock Inc. now owns 3,720,426 shares of the business services provider’s stock valued at $746,912,000 after acquiring an additional 236,285 shares in the last quarter. 98.52% of the stock is currently owned by institutional investors.

NYSE:WEX traded down $4.50 on Friday, hitting $186.54. The stock had a trading volume of 95,132 shares, compared to its average volume of 391,016. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.50 and a current ratio of 1.47. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 1.49 and a beta of 1.51. WEX Inc has a 1 year low of $131.35 and a 1 year high of $203.49.

WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, March 20th. The business services provider reported $1.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.01. The firm had revenue of $381.20 million during the quarter, compared to analyst estimates of $372.57 million. WEX had a net margin of 11.18% and a return on equity of 18.30%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $1.49 EPS. As a group, sell-side analysts forecast that WEX Inc will post 8.25 earnings per share for the current year.

In other WEX news, insider Nicola S. Morris sold 992 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $184.05, for a total value of $182,577.60. Following the completion of the sale, the insider now owns 11,848 shares in the company, valued at approximately $2,180,624.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.57% of the company’s stock.

WEX has been the topic of several recent research reports. BTIG Research initiated coverage on shares of WEX in a research report on Thursday, January 17th. They issued a “buy” rating and a $198.00 price target on the stock. Zacks Investment Research raised shares of WEX from a “sell” rating to a “hold” rating in a research report on Saturday, January 12th. ValuEngine upgraded shares of WEX from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Wolfe Research upgraded shares of WEX from a “market perform” rating to an “outperform” rating in a research note on Friday, January 4th. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $180.00 price objective (down previously from $200.00) on shares of WEX in a research note on Wednesday, January 16th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $197.27.

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WEX Company Profile

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.

Further Reading: Asset Allocation and Your Retirement

Institutional Ownership by Quarter for WEX (NYSE:WEX)

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