Proficio Capital Partners LLC Acquires New Position in WEX Inc. (NYSE:WEX)

Proficio Capital Partners LLC acquired a new stake in shares of WEX Inc. (NYSE:WEX) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 44,531 shares of the business services provider’s stock, valued at approximately $7,807,000.

A number of other hedge funds also recently made changes to their positions in the stock. Commerce Bank increased its position in WEX by 1.7% in the third quarter. Commerce Bank now owns 3,624 shares of the business services provider’s stock worth $760,000 after purchasing an additional 60 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of WEX by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock worth $225,000 after buying an additional 65 shares in 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. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings 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 worth $1,959,000 after buying an additional 70 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of WEX by 206.1% in the 3rd 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. 97.47% of the stock is currently owned by institutional investors.

WEX Trading Up 2.7 %

Shares of WEX opened at $154.47 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.06 and a beta of 1.61. The company has a 50-day moving average of $166.67 and a 200 day moving average of $181.60. WEX Inc. has a 1-year low of $146.03 and a 1-year high of $244.04.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WEX shares. Robert W. Baird set a $186.00 target price on shares of WEX in a report on Tuesday, February 18th. Wells Fargo & Company reduced their target price on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. William Blair restated a “market perform” rating on shares of WEX in a report on Thursday, February 6th. Bank of America downgraded shares of WEX from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Finally, UBS Group reduced their target price on shares of WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $195.73.

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.