Cornerstone Investment Partners LLC Has $802,000 Stock Holdings in WEX Inc. (NYSE:WEX)

Cornerstone Investment Partners LLC raised its holdings in WEX Inc. (NYSE:WEX) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,572 shares of the business services provider’s stock after buying an additional 144 shares during the period. Cornerstone Investment Partners LLC’s holdings in WEX were worth $802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in WEX by 206.1% in 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 period. Wilmington Savings Fund Society FSB bought a new stake in WEX in the third quarter valued at approximately $35,000. Jones Financial Companies Lllp raised its stake in WEX by 108.4% in the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after buying an additional 129 shares during the period. UMB Bank n.a. raised its stake in WEX by 552.5% in the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock valued at $46,000 after buying an additional 221 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in WEX by 25.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after buying an additional 66 shares during the period. Institutional investors own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WEX shares. Keefe, Bruyette & Woods dropped their price objective on WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Barclays lowered their target price on WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. UBS Group lowered their target price on WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Robert W. Baird set a $186.00 target price on WEX in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group increased their target price on WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $195.73.

WEX Price Performance

WEX stock opened at $155.11 on Tuesday. The stock’s fifty day moving average price is $170.52 and its two-hundred day moving average price is $183.56. WEX Inc. has a one year low of $146.03 and a one year high of $244.04. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. The firm has a market cap of $6.02 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.06 and a beta of 1.58.

WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. As a group, research analysts expect that WEX Inc. will post 14.09 EPS for the current fiscal 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.