Primecap Management Co. CA Acquires 23,690 Shares of WEX Inc. (NYSE:WEX)

Primecap Management Co. CA increased its holdings in WEX Inc. (NYSE:WEX) by 8.1% in the 4th quarter, Holdings Channel reports. The fund owned 315,280 shares of the business services provider’s stock after buying an additional 23,690 shares during the quarter. Primecap Management Co. CA’s holdings in WEX were worth $55,275,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Aurora Investment Counsel increased its stake in shares of WEX by 5.9% in the 4th quarter. Aurora Investment Counsel now owns 7,046 shares of the business services provider’s stock worth $1,235,000 after acquiring an additional 391 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of WEX by 7.6% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 59,697 shares of the business services provider’s stock worth $10,466,000 after acquiring an additional 4,194 shares in the last quarter. Truvestments Capital LLC increased its stake in shares of WEX by 4.9% in the 4th quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock worth $296,000 after acquiring an additional 78 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of WEX by 2.8% in the 4th quarter. HighTower Advisors LLC now owns 6,619 shares of the business services provider’s stock worth $1,160,000 after acquiring an additional 183 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of WEX in the 4th quarter worth about $28,689,000. 97.47% of the stock is currently owned by institutional investors.

WEX Price Performance

Shares of NYSE:WEX opened at $155.49 on Wednesday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. WEX Inc. has a 1-year low of $146.03 and a 1-year high of $244.04. The company has a market capitalization of $6.04 billion, a P/E ratio of 20.73, a P/E/G ratio of 2.06 and a beta of 1.61. The firm’s 50 day simple moving average is $165.84 and its two-hundred day simple moving average is $181.08.

WEX (NYSE:WEX) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Research analysts expect that WEX Inc. will post 14.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Mizuho reduced their price objective on shares of WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Robert W. Baird set a $186.00 price objective on shares of WEX in a research note on Tuesday, February 18th. William Blair restated a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Wells Fargo & Company reduced their price objective on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, WEX presently has an average rating of “Hold” and an average price target of $195.73.

About WEX

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.