Wisconsin Capital Management LLC Takes $3.38 Million Position in WEX Inc (WEX)

Wisconsin Capital Management LLC bought a new stake in shares of WEX Inc (NYSE:WEX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 24,105 shares of the business services provider’s stock, valued at approximately $3,376,000. WEX accounts for approximately 3.6% of Wisconsin Capital Management LLC’s holdings, making the stock its 5th largest position.

A number of other institutional investors also recently added to or reduced their stakes in the business. Ffcm LLC boosted its position in shares of WEX by 50.0% during the 4th quarter. Ffcm LLC now owns 210 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 70 shares in the last quarter. Ipswich Investment Management Co. Inc. bought a new position in shares of WEX during the 4th quarter valued at about $32,000. Enlightenment Research LLC bought a new position in shares of WEX during the 4th quarter valued at about $98,000. Mondrian Capital Management LLC bought a new position in shares of WEX during the 4th quarter valued at about $140,000. Finally, Bremer Trust National Association bought a new position in shares of WEX during the 4th quarter valued at about $140,000. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

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In other WEX news, insider David G. Cooper sold 607 shares of the firm’s stock in a transaction dated Monday, December 17th. The shares were sold at an average price of $145.15, for a total value of $88,106.05. Following the completion of the transaction, the insider now directly owns 1,065 shares in the company, valued at $154,584.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.57% of the company’s stock.

WEX has been the subject of several research reports. Goldman Sachs Group lowered shares of WEX from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $205.00 to $167.00 in a research report on Tuesday, December 11th. Wells Fargo & Co restated an “outperform” rating and set a $180.00 price objective (down previously from $200.00) on shares of WEX in a research report on Wednesday, January 16th. BTIG Research initiated coverage on shares of WEX in a research report on Thursday, January 17th. They set a “buy” rating and a $198.00 price objective for the company. Deutsche Bank restated a “buy” rating and set a $186.00 price objective on shares of WEX in a research report on Wednesday, November 21st. Finally, William Blair reiterated an “outperform” rating on shares of WEX in a report on Wednesday, January 30th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $196.30.

Shares of WEX traded down $1.65 during midday trading on Wednesday, hitting $176.24. The stock had a trading volume of 1,895 shares, compared to its average volume of 416,702. WEX Inc has a fifty-two week low of $131.35 and a fifty-two week high of $203.49. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 1.43 and a beta of 1.55. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.50 and a quick ratio of 1.50.

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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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