WEX Inc. (NYSE:WEX) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC increased its position in WEX Inc. (NYSE:WEX) by 0.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,163,678 shares of the business services provider’s stock after buying an additional 25,365 shares during the period. Janus Henderson Group PLC owned 0.10% of WEX worth $873,251,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Rice Hall James & Associates LLC grew its position in WEX by 672.7% in the third quarter. Rice Hall James & Associates LLC now owns 154,033 shares of the business services provider’s stock worth $32,305,000 after buying an additional 134,099 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in WEX by 34.3% in the second quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock valued at $87,772,000 after buying an additional 126,663 shares during the period. FMR LLC raised its holdings in WEX by 8.8% in the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock worth $326,237,000 after purchasing an additional 125,262 shares during the period. New York State Common Retirement Fund lifted its stake in WEX by 328.6% in the third 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 acquiring an additional 97,807 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of WEX by 82.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 175,690 shares of the business services provider’s stock worth $36,847,000 after buying an additional 79,252 shares during the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Wolfe Research cut shares of WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Jefferies Financial Group increased their price objective on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Finally, Robert W. Baird cut their price target on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.91.

Insider Buying and Selling

In other news, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the transaction, the chief financial officer now owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. The trade was a 6.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

WEX Stock Performance

WEX opened at $189.31 on Tuesday. WEX Inc. has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. The company has a fifty day moving average of $194.12 and a 200 day moving average of $187.10. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 1.49 and a beta of 1.57.

WEX (NYSE:WEX) last posted its earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.82 by $0.53. The firm had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.44 EPS. As a group, sell-side analysts forecast that WEX Inc. will post 13.1 earnings per share for the current fiscal year.

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.