WEX Inc. (NYSE:WEX) Shares Sold by Swiss National Bank

Swiss National Bank lessened its stake in WEX Inc. (NYSE:WEX) by 0.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,926 shares of the business services provider’s stock after selling 100 shares during the quarter. Swiss National Bank owned 0.22% of WEX worth $17,101,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. M&T Bank Corp increased its holdings in shares of WEX by 3.9% in the 1st quarter. M&T Bank Corp now owns 1,641 shares of the business services provider’s stock valued at $301,000 after purchasing an additional 62 shares in the last quarter. Duality Advisers LP purchased a new position in shares of WEX in the 2nd quarter valued at about $256,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of WEX by 835.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,239 shares of the business services provider’s stock valued at $963,000 after purchasing an additional 4,679 shares in the last quarter. Credit Suisse AG lifted its holdings in shares of WEX by 3.0% in the 1st quarter. Credit Suisse AG now owns 69,134 shares of the business services provider’s stock worth $12,713,000 after purchasing an additional 2,019 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of WEX in the 2nd quarter worth approximately $1,569,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Insider Buying and Selling

In related news, Director Stephen Montgomery Smith bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were acquired at an average cost of $165.31 per share, for a total transaction of $165,310.00. Following the acquisition, the director now directly owns 4,864 shares of the company’s stock, valued at approximately $804,067.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Stephen Montgomery Smith bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were acquired at an average cost of $165.31 per share, for a total transaction of $165,310.00. Following the acquisition, the director now directly owns 4,864 shares of the company’s stock, valued at approximately $804,067.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jennifer Kimball sold 399 shares of WEX stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $173.87, for a total value of $69,374.13. Following the transaction, the chief accounting officer now owns 911 shares in the company, valued at approximately $158,395.57. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

WEX Stock Up 1.0 %

Shares of WEX stock opened at $174.38 on Monday. WEX Inc. has a 1 year low of $152.32 and a 1 year high of $204.05. The stock has a market cap of $7.45 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 1.31 and a beta of 1.60. The business’s fifty day moving average is $185.06 and its 200-day moving average is $184.35. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.03 and a current ratio of 1.03.

WEX (NYSE:WEX) last issued its earnings results on Thursday, October 26th. The business services provider reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.29 by $0.15. The business had revenue of $651.40 million for the quarter, compared to analysts’ expectations of $641.45 million. WEX had a return on equity of 32.16% and a net margin of 10.80%. Equities analysts expect that WEX Inc. will post 12.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WEX has been the topic of several recent research reports. Robert W. Baird raised their price target on WEX from $252.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Wolfe Research raised WEX from a “peer perform” rating to an “outperform” rating and set a $240.00 price target on the stock in a report on Tuesday, October 17th. Morgan Stanley cut their target price on WEX from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Friday, October 27th. Barclays cut their target price on WEX from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, October 30th. Finally, Mizuho cut their target price on WEX from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, October 31st. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, WEX has an average rating of “Moderate Buy” and an average target price of $219.54.

About WEX

WEX Inc operates a commerce platform in the United States and internationally. The Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account 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 tools to fleets to manage expenses and capital requirements.