Harbor Capital Advisors Inc. Raises Stock Holdings in WEX Inc. (NYSE:WEX)

Harbor Capital Advisors Inc. lifted its position in WEX Inc. (NYSE:WEX) by 256.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,765 shares of the business services provider’s stock after purchasing an additional 8,466 shares during the period. Harbor Capital Advisors Inc.’s holdings in WEX were worth $2,084,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WEX. Wellington Management Group LLP raised its position in WEX by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after purchasing an additional 179,813 shares in the last quarter. Kodai Capital Management LP purchased a new position in WEX during the fourth quarter valued at approximately $49,750,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in WEX during the fourth quarter worth $3,617,000. International Assets Investment Management LLC boosted its position in WEX by 19,044.7% during the 4th quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock valued at $7,002,000 after acquiring an additional 35,804 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of WEX by 2.7% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock worth $177,076,000 after purchasing an additional 22,865 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WEX shares. William Blair upgraded WEX to a “strong-buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. decreased their target price on shares of WEX from $246.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Barclays lifted their price target on shares of WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Wells Fargo & Company lowered their price objective on WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, July 26th. Finally, Robert W. Baird upped their target price on WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $240.42.

WEX Stock Performance

NYSE:WEX traded up $3.19 during mid-day trading on Wednesday, hitting $171.20. The company’s stock had a trading volume of 235,811 shares, compared to its average volume of 340,356. The business’s fifty day moving average is $178.85 and its two-hundred day moving average is $204.85. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.03 and a beta of 1.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04.

Insider Buying and Selling

In related news, insider Ann Elena Drew sold 1,182 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the completion of the sale, the insider now directly owns 5,584 shares in the company, valued at $964,524.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Jagtar Narula sold 540 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.00, for a total value of $97,200.00. Following the completion of the transaction, the chief financial officer now owns 8,168 shares of the company’s stock, valued at $1,470,240. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ann Elena Drew sold 1,182 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the completion of the transaction, the insider now directly owns 5,584 shares of the company’s stock, valued at approximately $964,524.32. The disclosure for this sale can be found here. Insiders have sold a total of 3,826 shares of company stock valued at $693,369 over the last ninety days. Company insiders own 1.10% of the company’s stock.

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.