Proficio Capital Partners LLC Invests $7.81 Million in WEX Inc. (NYSE:WEX)

Proficio Capital Partners LLC bought a new stake in WEX Inc. (NYSE:WEX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 44,531 shares of the business services provider’s stock, valued at approximately $7,807,000. Proficio Capital Partners LLC owned 0.11% of WEX as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. FMR LLC lifted its position in shares of WEX by 8.8% during the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock valued at $326,237,000 after acquiring an additional 125,262 shares during the period. New York State Common Retirement Fund increased its holdings in WEX by 328.6% in the 3rd quarter. New York State Common Retirement Fund now owns 127,570 shares of the business services provider’s stock valued at $26,755,000 after buying an additional 97,807 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of WEX by 82.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 175,690 shares of the business services provider’s stock valued at $36,847,000 after buying an additional 79,252 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of WEX by 300.4% during the 3rd quarter. Natixis Advisors LLC now owns 68,539 shares of the business services provider’s stock worth $14,375,000 after acquiring an additional 51,423 shares during the period. Finally, Premier Fund Managers Ltd increased its stake in WEX by 18.1% in the third quarter. Premier Fund Managers Ltd now owns 300,000 shares of the business services provider’s stock valued at $62,750,000 after acquiring an additional 46,000 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

WEX Trading Down 0.4 %

NYSE WEX opened at $157.07 on Monday. WEX Inc. has a 12 month low of $146.03 and a 12 month high of $244.04. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The firm has a market capitalization of $6.10 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 2.06 and a beta of 1.58. The business’s 50-day moving average price is $170.52 and its two-hundred day moving average price is $183.50.

WEX (NYSE:WEX) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (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, analysts expect that WEX Inc. will post 14.09 EPS for the current year.

Wall Street Analysts Forecast Growth

WEX has been the subject of several recent analyst reports. Wells Fargo & Company cut their target price on WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Mizuho dropped their target price on shares of WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Robert W. Baird set a $186.00 price target on shares of WEX in a report on Tuesday, February 18th. Jefferies Financial Group increased 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. Finally, Bank of America cut shares of WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, WEX currently 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.