Natixis Invests $1.11 Million in WEX Inc. (NYSE:WEX)

Natixis bought a new stake in shares of WEX Inc. (NYSE:WEX) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 6,339 shares of the business services provider’s stock, valued at approximately $1,111,000.

Several other hedge funds have also modified their holdings of WEX. CIBC Asset Management Inc raised its stake in shares of WEX by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 65 shares during the period. Smartleaf Asset Management LLC grew its holdings in WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 66 shares in the last quarter. Xponance Inc. increased its stake in WEX by 1.4% during the 4th quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock worth $853,000 after buying an additional 68 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in WEX by 0.6% during 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 period. Finally, Truvestments Capital LLC lifted its holdings in WEX by 4.9% in the 4th quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock worth $296,000 after buying an additional 78 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WEX has been the subject of several recent analyst reports. Citigroup downgraded WEX from a “buy” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. Robert W. Baird set a $186.00 price objective on WEX in a report on Tuesday, February 18th. Barclays cut their target price on WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. William Blair reissued a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Finally, Jefferies Financial Group upped their price target on shares of WEX from $180.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $187.80.

WEX Stock Up 2.0 %

WEX stock opened at $126.49 on Thursday. The firm has a fifty day moving average price of $145.24 and a two-hundred day moving average price of $169.37. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $235.20. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 2.06 and a beta of 1.33.

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, 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%. Research analysts predict that WEX Inc. will post 14.09 EPS for the current year.

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.