Great West Life Assurance Co. Can Makes New Investment in WEX Inc. (NYSE:WEX)

Great West Life Assurance Co. Can acquired a new position in WEX Inc. (NYSE:WEXGet Rating) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 30,351 shares of the business services provider’s stock, valued at approximately $3,857,000. Great West Life Assurance Co. Can owned about 0.07% of WEX at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its holdings in shares of WEX by 762.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,043 shares of the business services provider’s stock worth $163,000 after purchasing an additional 922 shares during the period. Versor Investments LP boosted its holdings in shares of WEX by 426.3% in the 2nd quarter. Versor Investments LP now owns 10,232 shares of the business services provider’s stock worth $1,592,000 after purchasing an additional 8,288 shares during the period. Jackson Creek Investment Advisors LLC purchased a new position in shares of WEX in the 2nd quarter worth approximately $361,000. HM Payson & Co. boosted its holdings in shares of WEX by 4.6% in the 3rd quarter. HM Payson & Co. now owns 20,844 shares of the business services provider’s stock worth $2,646,000 after purchasing an additional 925 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of WEX by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 254,115 shares of the business services provider’s stock worth $39,530,000 after purchasing an additional 18,249 shares during the period. Institutional investors own 98.65% of the company’s stock.

Insider Transactions at WEX

In other news, insider Hilary A. Rapkin sold 5,270 shares of the business’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $175.00, for a total value of $922,250.00. Following the completion of the transaction, the insider now directly owns 12,203 shares of the company’s stock, valued at approximately $2,135,525. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Hilary A. Rapkin sold 6,156 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 12,328 shares of the company’s stock, valued at approximately $2,036,462.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Hilary A. Rapkin sold 5,270 shares of the company’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $175.00, for a total value of $922,250.00. Following the transaction, the insider now directly owns 12,203 shares in the company, valued at $2,135,525. The disclosure for this sale can be found here. In the last three months, insiders sold 12,426 shares of company stock valued at $2,102,480. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

WEX has been the subject of a number of recent research reports. Barclays dropped their target price on WEX from $213.00 to $209.00 and set an “overweight” rating for the company in a report on Monday. Robert W. Baird boosted their price objective on WEX from $170.00 to $180.00 in a report on Friday, October 28th. StockNews.com began coverage on WEX in a report on Wednesday, October 12th. They set a “hold” rating for the company. Wells Fargo & Company boosted their price objective on WEX from $185.00 to $193.00 and gave the company an “overweight” rating in a report on Monday, January 9th. Finally, Truist Financial boosted their price objective on WEX from $170.00 to $190.00 and gave the company a “hold” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.42.

WEX Trading Up 1.9 %

Shares of NYSE WEX opened at $180.45 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.62. The business has a fifty day simple moving average of $165.45 and a two-hundred day simple moving average of $158.20. The firm has a market cap of $7.87 billion, a PE ratio of 81.65, a price-to-earnings-growth ratio of 0.74 and a beta of 1.59. WEX Inc. has a twelve month low of $125.00 and a twelve month high of $183.38.

WEX (NYSE:WEXGet Rating) last issued its earnings results on Thursday, October 27th. The business services provider reported $3.01 earnings per share for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.11). The firm had revenue of $616.13 million for the quarter, compared to the consensus estimate of $590.54 million. WEX had a net margin of 4.53% and a return on equity of 27.73%. Analysts expect that WEX Inc. will post 11.61 earnings per share for the current fiscal year.

WEX Company Profile

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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.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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