Royal Bank of Canada lowered its stake in shares of WEX Inc. (NYSE:WEX – Get Rating) by 47.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,819 shares of the business services provider’s stock after selling 66,979 shares during the quarter. Royal Bank of Canada owned 0.17% of WEX worth $9,499,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of WEX. CWM LLC grew its holdings in WEX by 99.2% during 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 in the last quarter. Wipfli Financial Advisors LLC bought a new stake in WEX during the third quarter worth $43,000. Lazard Asset Management LLC bought a new stake in WEX during the first quarter worth $44,000. Itau Unibanco Holding S.A. bought a new stake in WEX during the third quarter worth $91,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in WEX during the third quarter worth $110,000. Institutional investors own 98.65% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have weighed in on WEX shares. Robert W. Baird boosted their price objective on WEX from $200.00 to $222.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. Truist Financial increased their price objective on WEX from $190.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, February 10th. TheStreet raised WEX from a “c” rating to a “b-” rating in a report on Thursday, February 9th. Barclays decreased their target price on WEX from $213.00 to $209.00 and set an “overweight” rating on the stock in a research note on Monday, January 23rd. Finally, Citigroup increased their price objective on WEX from $190.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, February 13th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $209.09.
Insider Activity at WEX
WEX Stock Down 2.8 %
WEX stock opened at $185.28 on Friday. WEX Inc. has a twelve month low of $125.00 and a twelve month high of $204.05. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.53. The firm has a market cap of $7.99 billion, a PE ratio of 41.27, a price-to-earnings-growth ratio of 2.06 and a beta of 1.59. The business has a 50 day moving average of $183.98 and a 200 day moving average of $164.20.
WEX Company Profile
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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