Zurcher Kantonalbank Zurich Cantonalbank Has $1.79 Million Stock Position in WEX Inc. (NYSE:WEX)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of WEX Inc. (NYSE:WEX) by 11.9% in the 4th quarter, Holdings Channel reports. The firm owned 9,197 shares of the business services provider’s stock after acquiring an additional 978 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in WEX were worth $1,789,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. VisionPoint Advisory Group LLC grew its stake in shares of WEX by 74.7% during the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after buying an additional 62 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in shares of WEX by 896.8% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the business services provider’s stock worth $58,000 after buying an additional 278 shares during the last quarter. Signaturefd LLC grew its stake in shares of WEX by 131.4% during the third quarter. Signaturefd LLC now owns 516 shares of the business services provider’s stock worth $97,000 after buying an additional 293 shares during the last quarter. Clearstead Advisors LLC bought a new stake in shares of WEX during the third quarter worth $110,000. Finally, Advisor Partners II LLC bought a new stake in shares of WEX during the third quarter worth $202,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Stock Performance

Shares of WEX opened at $233.31 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $9.74 billion, a P/E ratio of 37.88, a price-to-earnings-growth ratio of 1.51 and a beta of 1.59. The firm’s fifty day simple moving average is $230.52 and its two-hundred day simple moving average is $203.29. WEX Inc. has a 12 month low of $161.95 and a 12 month high of $244.04.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a net margin of 10.46% and a return on equity of 31.33%. The company had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. As a group, analysts predict that WEX Inc. will post 13.55 EPS for the current year.

Insider Activity

In other news, CAO Jennifer Kimball sold 574 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $222.24, for a total transaction of $127,565.76. Following the transaction, the chief accounting officer now owns 1,297 shares in the company, valued at $288,245.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Jennifer Kimball sold 574 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $222.24, for a total transaction of $127,565.76. Following the transaction, the chief accounting officer now owns 1,297 shares in the company, valued at $288,245.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $72,071.16. Following the completion of the sale, the chief financial officer now owns 5,528 shares in the company, valued at approximately $1,289,350.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,326 shares of company stock worth $6,281,961. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WEX. William Blair reaffirmed an “outperform” rating on shares of WEX in a research note on Thursday, February 8th. StockNews.com cut shares of WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Evercore ISI boosted their price objective on shares of WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Robert W. Baird boosted their price objective on shares of WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, Truist Financial boosted their price objective on shares of WEX from $185.00 to $220.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

About WEX

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.