Deroy & Devereaux Private Investment Counsel Inc. Purchases New Position in WEX Inc. (NYSE:WEX)

Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in WEX Inc. (NYSE:WEX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,105 shares of the business services provider’s stock, valued at approximately $2,329,000.

Several other institutional investors have also bought and sold shares of WEX. Wealth Enhancement Advisory Services LLC boosted its stake in WEX by 96.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,596 shares of the business services provider’s stock valued at $1,804,000 after buying an additional 3,722 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in WEX by 44.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 51,422 shares of the business services provider’s stock worth $12,214,000 after purchasing an additional 15,884 shares in the last quarter. State of Michigan Retirement System boosted its stake in WEX by 1.9% in the first quarter. State of Michigan Retirement System now owns 10,475 shares of the business services provider’s stock worth $2,488,000 after purchasing an additional 200 shares in the last quarter. Norden Group LLC acquired a new position in WEX in the first quarter worth $279,000. Finally, BNP Paribas Financial Markets boosted its stake in WEX by 139.7% in the first quarter. BNP Paribas Financial Markets now owns 27,811 shares of the business services provider’s stock worth $6,606,000 after purchasing an additional 16,207 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Trading Down 0.7 %

NYSE WEX opened at $172.60 on Friday. The stock has a 50-day simple moving average of $199.35 and a 200 day simple moving average of $192.94. The company has a market capitalization of $6.87 billion, a PE ratio of 21.90, a P/E/G ratio of 1.36 and a beta of 1.55. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. WEX Inc. has a 12 month low of $162.97 and a 12 month high of $244.04.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. The business had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.44 earnings per share. Research analysts forecast that WEX Inc. will post 13.2 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on WEX shares. William Blair raised WEX to a “strong-buy” rating in a research note on Friday, July 26th. Wolfe Research lowered WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday. Keefe, Bruyette & Woods reduced their price objective on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Wells Fargo & Company reduced their price objective on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. reduced their price objective on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Six 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 stock. Based on data from MarketBeat, WEX currently has an average rating of “Moderate Buy” and a consensus target price of $235.91.

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 508 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other WEX news, CFO Jagtar Narula sold 508 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert Joseph Deshaies sold 1,651 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total value of $299,937.17. Following the completion of the sale, the chief operating officer now owns 7,757 shares of the company’s stock, valued at $1,409,214.19. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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.