Cornerstone Investment Partners LLC Has $802,000 Stock Holdings in WEX Inc. (NYSE:WEX)

Cornerstone Investment Partners LLC raised its holdings in WEX Inc. (NYSE:WEX) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,572 shares of the business services provider’s stock after purchasing an additional 144 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in WEX were worth $802,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in shares of WEX by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock valued at $873,251,000 after acquiring an additional 25,365 shares in the last quarter. FMR LLC boosted its holdings 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 in the last quarter. State Street Corp boosted its holdings in shares of WEX by 0.3% during the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock valued at $260,265,000 after acquiring an additional 3,882 shares in the last quarter. River Road Asset Management LLC boosted its holdings in shares of WEX by 5.0% during the 3rd quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock valued at $151,103,000 after acquiring an additional 34,264 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of WEX by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 374,359 shares of the business services provider’s stock valued at $65,633,000 after acquiring an additional 30,395 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WEX shares. Barclays cut their price objective on WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. UBS Group cut their price objective on WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Wells Fargo & Company lowered their target price on WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Finally, William Blair reaffirmed a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, WEX has a consensus rating of “Hold” and a consensus target price of $195.73.

WEX Stock Performance

WEX stock opened at $155.11 on Tuesday. The stock has a 50-day moving average price of $170.52 and a 200-day moving average price of $183.56. WEX Inc. has a 1-year low of $146.03 and a 1-year 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 cap of $6.02 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.06 and a beta of 1.58.

WEX (NYSE:WEX) last posted 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 return on equity of 32.35% and a net margin of 11.78%. As a group, equities research analysts expect that WEX Inc. will post 14.09 earnings per share for the current year.

About WEX

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.