Radnor Capital Management LLC Takes Position in WEX Inc. (NYSE:WEX)

Radnor Capital Management LLC acquired a new stake in shares of WEX Inc. (NYSE:WEX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,890 shares of the business services provider’s stock, valued at approximately $331,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WEX. Venturi Wealth Management LLC raised its position in shares of WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after buying an additional 101 shares during the last quarter. Quarry LP increased its position in WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after purchasing an additional 165 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in WEX in the third quarter worth $35,000. Covestor Ltd increased its position in WEX by 47.3% in the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after purchasing an additional 89 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in WEX in the third quarter worth $59,000. Institutional investors own 97.47% of the company’s stock.

Insider Activity

In related news, COO Robert Joseph Deshaies sold 175 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the completion of the sale, the chief operating officer now directly owns 7,582 shares of the company’s stock, valued at $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Bank of America boosted their price target on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Barclays restated an “equal weight” rating and issued a $200.00 price target (down previously from $207.00) on shares of WEX in a research report on Tuesday, December 17th. Citigroup cut shares of WEX from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $190.00 in a research report on Tuesday. Finally, Wolfe Research lowered shares of WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $219.55.

WEX Stock Up 1.3 %

Shares of WEX opened at $180.04 on Thursday. The firm has a market capitalization of $7.16 billion, a P/E ratio of 22.85, a P/E/G ratio of 1.23 and a beta of 1.58. WEX Inc. has a 12-month low of $165.51 and a 12-month high of $244.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The firm has a fifty day moving average price of $178.77 and a 200-day moving average price of $185.97.

WEX (NYSE:WEX) last issued its earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. The firm had revenue of $665.50 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $3.44 earnings per share. Equities research analysts expect that WEX Inc. will post 13.09 earnings per share for the current 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.