US Bancorp DE Has $1.09 Million Stake in WEX Inc. (NYSE:WEX)

US Bancorp DE lowered its position in WEX Inc. (NYSE:WEXGet Rating) by 12.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,564 shares of the business services provider’s stock after selling 1,222 shares during the period. US Bancorp DE’s holdings in WEX were worth $1,087,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WEX. CWM LLC increased its holdings in WEX by 99.2% in the third quarter. CWM LLC now owns 265 shares of the business services provider’s stock worth $34,000 after buying an additional 132 shares during the last quarter. Charter Oak Capital Management LLC acquired a new position in WEX in the second quarter worth approximately $42,000. Wipfli Financial Advisors LLC acquired a new position in WEX in the third quarter worth approximately $43,000. Lazard Asset Management LLC acquired a new position in WEX in the first quarter worth approximately $44,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in WEX during the second quarter worth approximately $108,000. Institutional investors and hedge funds own 98.65% of the company’s stock.

Wall Street Analyst Weigh In

WEX has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on WEX from $148.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Friday, October 28th. StockNews.com began coverage on WEX in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Bank of America reduced their price objective on WEX from $225.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, October 20th. Wells Fargo & Company increased their price objective on WEX from $185.00 to $193.00 and gave the company an “overweight” rating in a research report on Monday, January 9th. Finally, Robert W. Baird increased their price objective on WEX from $170.00 to $180.00 in a research report on Friday, October 28th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, WEX presently has an average rating of “Moderate Buy” and a consensus target price of $191.08.

Insider Activity at WEX

In other WEX news, insider Hilary A. Rapkin sold 6,156 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $165.19, for a total value of $1,016,909.64. Following the transaction, the insider now owns 12,328 shares in the company, valued at $2,036,462.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Hilary A. Rapkin sold 6,156 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $165.19, for a total transaction of $1,016,909.64. Following the completion of the sale, the insider now directly owns 12,328 shares of the company’s stock, valued at $2,036,462.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Groch purchased 1,400 shares of WEX stock in a transaction dated Thursday, November 3rd. The stock was bought at an average price of $151.25 per share, with a total value of $211,750.00. Following the completion of the transaction, the director now owns 8,465 shares of the company’s stock, valued at approximately $1,280,331.25. The disclosure for this purchase can be found here. Insiders have sold a total of 12,426 shares of company stock worth $2,102,480 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

WEX Stock Performance

NYSE:WEX opened at $174.95 on Thursday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.12 and a current ratio of 1.12. WEX Inc. has a fifty-two week low of $125.00 and a fifty-two week high of $183.38. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 79.16, a PEG ratio of 0.73 and a beta of 1.59. The stock has a fifty day moving average price of $164.64 and a 200-day moving average price of $157.77.

WEX (NYSE:WEXGet Rating) last issued its earnings results on Thursday, October 27th. The business services provider reported $3.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.11). The firm had revenue of $616.13 million during the quarter, compared to analyst estimates of $590.54 million. WEX had a return on equity of 27.73% and a net margin of 4.53%. As a group, equities analysts anticipate that WEX Inc. will post 11.63 EPS for the current fiscal year.

About WEX

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WEX Inc provides financial technology services in the United States and internationally. 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 processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.

See Also

Institutional Ownership by Quarter for WEX (NYSE:WEX)

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