Highbridge Capital Management LLC purchased a new position in shares of WEX Inc (NYSE:WEX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,411 shares of the business services provider’s stock, valued at approximately $2,291,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Aperio Group LLC increased its position in WEX by 2.6% during the second quarter. Aperio Group LLC now owns 13,689 shares of the business services provider’s stock worth $2,607,000 after buying an additional 347 shares in the last quarter. HM Payson & Co. increased its position in WEX by 4.2% during the second quarter. HM Payson & Co. now owns 8,903 shares of the business services provider’s stock worth $1,696,000 after buying an additional 360 shares in the last quarter. Cutler Group LP increased its position in WEX by 133.3% during the second quarter. Cutler Group LP now owns 700 shares of the business services provider’s stock worth $133,000 after buying an additional 400 shares in the last quarter. Logan Capital Management Inc. increased its position in WEX by 3.6% during the third quarter. Logan Capital Management Inc. now owns 12,574 shares of the business services provider’s stock worth $2,524,000 after buying an additional 436 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in WEX by 3.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 15,542 shares of the business services provider’s stock worth $2,960,000 after buying an additional 450 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

WEX stock opened at $153.48 on Friday. WEX Inc has a 52-week low of $128.00 and a 52-week high of $203.49. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market cap of $6.63 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 1.35 and a beta of 1.69.

WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, October 31st. The business services provider reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.07. WEX had a return on equity of 16.92% and a net margin of 15.63%. The business had revenue of $382.70 million for the quarter, compared to analysts’ expectations of $375.15 million. During the same quarter last year, the firm earned $1.43 earnings per share. The business’s revenue was up 18.1% on a year-over-year basis. As a group, equities research analysts predict that WEX Inc will post 7.59 EPS for the current fiscal year.

Several equities analysts have weighed in on WEX shares. Wells Fargo & Co raised WEX from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $190.00 to $200.00 in a research report on Thursday, November 1st. Deutsche Bank reissued a “buy” rating and set a $186.00 price target on shares of WEX in a research report on Wednesday, November 21st. ValuEngine downgraded WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Barclays started coverage on WEX in a research report on Wednesday, November 14th. They set an “overweight” rating and a $211.00 price target for the company. Finally, Zacks Investment Research raised WEX from a “hold” rating to a “buy” rating and set a $211.00 price target for the company in a research report on Saturday, October 13th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $198.50.

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About WEX

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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