WEX Inc. (NYSE:WEX) Shares Sold by Raymond James & Associates

Raymond James & Associates lowered its stake in shares of WEX Inc. (NYSE:WEXFree Report) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,985 shares of the business services provider’s stock after selling 1,458 shares during the period. Raymond James & Associates owned about 0.18% of WEX worth $15,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of WEX by 111.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider’s stock valued at $170,000 after buying an additional 500 shares during the period. Bank of Montreal Can raised its holdings in shares of WEX by 8.1% in the 1st quarter. Bank of Montreal Can now owns 4,181 shares of the business services provider’s stock valued at $732,000 after purchasing an additional 315 shares in the last quarter. BlackRock Inc. raised its holdings in shares of WEX by 1.2% in the 1st quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock valued at $732,950,000 after purchasing an additional 49,480 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of WEX by 8.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 24,375 shares of the business services provider’s stock valued at $4,471,000 after purchasing an additional 1,824 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of WEX by 38.3% in the 1st quarter. Sei Investments Co. now owns 21,260 shares of the business services provider’s stock valued at $3,793,000 after buying an additional 5,884 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Up 0.5 %

Shares of NYSE:WEX opened at $238.46 on Wednesday. WEX Inc. has a 52 week low of $161.95 and a 52 week high of $239.18. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.05 and a current ratio of 1.05. The company’s fifty day moving average is $221.69 and its 200-day moving average is $198.70. The company has a market capitalization of $9.95 billion, a PE ratio of 38.71, a P/E/G ratio of 1.54 and a beta of 1.59.

WEX (NYSE:WEXGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.29 by ($0.15). The company had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. WEX had a return on equity of 31.33% and a net margin of 10.46%. Equities research analysts predict that WEX Inc. will post 13.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 309 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the completion of the sale, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the completion of the sale, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer Kimball sold 574 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $222.24, for a total value of $127,565.76. Following the completion of the transaction, the chief accounting officer now owns 1,297 shares of the company’s stock, valued at $288,245.28. The disclosure for this sale can be found here. In the last three months, insiders sold 69,433 shares of company stock valued at $14,708,896. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WEX. JPMorgan Chase & Co. raised their price objective on shares of WEX from $205.00 to $239.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Barclays lifted their price target on shares of WEX from $240.00 to $255.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. TheStreet upgraded shares of WEX from a “c” rating to a “b” rating in a report on Thursday, February 8th. Truist Financial boosted their target price on shares of WEX from $185.00 to $220.00 and gave the company a “hold” rating in a report on Friday, February 9th. Finally, William Blair reissued an “outperform” rating on shares of WEX in a research report on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, WEX has an average rating of “Moderate Buy” and an average target price of $230.77.

View Our Latest Report on WEX

WEX Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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