Harbor Capital Advisors Inc. Has $5.22 Million Stake in WEX Inc. (NYSE:WEX)

by · The Markets Daily

Harbor Capital Advisors Inc. lifted its stake in WEX Inc. (NYSE:WEX – Free Report) by 111.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,869 shares of the business services provider’s stock after buying an additional 13,104 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.06% of WEX worth $5,216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in shares of WEX by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock valued at $1,847,000 after acquiring an additional 68 shares during the period. Ballentine Partners LLC grew its stake in WEX by 3.3% during the second quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider’s stock worth $396,000 after buying an additional 72 shares in the last quarter. GAMMA Investing LLC increased its holdings in WEX by 40.7% in the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock valued at $63,000 after buying an additional 87 shares during the period. Cozad Asset Management Inc. raised its position in shares of WEX by 2.1% in the 1st quarter. Cozad Asset Management Inc. now owns 4,831 shares of the business services provider’s stock valued at $1,148,000 after buying an additional 100 shares in the last quarter. Finally, Long Road Investment Counsel LLC lifted its holdings in shares of WEX by 0.4% during the 2nd quarter. Long Road Investment Counsel LLC now owns 26,699 shares of the business services provider’s stock worth $4,729,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

A number of brokerages recently issued reports on WEX. Wells Fargo & Company decreased 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. Robert W. Baird decreased their price target on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Jefferies Financial Group upped their price objective on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Finally, William Blair raised shares of WEX to a “strong-buy” rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.91.

Read Our Latest Stock Report on WEX

WEX Stock Performance

Shares of WEX stock opened at $173.79 on Monday. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 1.36 and a beta of 1.57. WEX Inc. has a twelve month low of $165.51 and a twelve month high of $244.04. The company’s fifty day moving average is $198.93 and its 200 day moving average is $191.84. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87.

WEX (NYSE:WEX – Get Free Report) last released its quarterly earnings results 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. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. During the same quarter in the previous year, the company posted $3.44 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts forecast that WEX Inc. will post 13.2 EPS for the current year.

WEX Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding WEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEX Inc. (NYSE:WEX – Free Report).