International Assets Investment Management LLC Has $7 Million Holdings in WEX Inc. (NYSE:WEX)

International Assets Investment Management LLC raised its position in shares of WEX Inc. (NYSE:WEX) by 19,044.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 35,992 shares of the business services provider’s stock after acquiring an additional 35,804 shares during the period. International Assets Investment Management LLC’s holdings in WEX were worth $7,002,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. VisionPoint Advisory Group LLC grew its position in WEX by 74.7% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after acquiring an additional 62 shares during the last quarter. Bath Savings Trust Co raised its holdings in shares of WEX by 0.3% in the fourth quarter. Bath Savings Trust Co now owns 27,284 shares of the business services provider’s stock valued at $5,308,000 after buying an additional 80 shares during the last quarter. Arizona State Retirement System lifted its position in WEX by 0.7% during the 3rd quarter. Arizona State Retirement System now owns 12,198 shares of the business services provider’s stock worth $2,294,000 after buying an additional 83 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of WEX by 5.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,893 shares of the business services provider’s stock worth $368,000 after acquiring an additional 94 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of WEX by 7.8% during the fourth quarter. SG Americas Securities LLC now owns 1,845 shares of the business services provider’s stock valued at $359,000 after purchasing an additional 134 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

WEX Stock Performance

WEX stock opened at $211.66 on Wednesday. WEX Inc. has a 1-year low of $161.95 and a 1-year high of $244.04. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.73. The firm has a market cap of $8.87 billion, a PE ratio of 34.42, a P/E/G ratio of 1.22 and a beta of 1.60. The business’s 50-day moving average price is $229.31 and its two-hundred day moving average price is $205.01.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a return on equity of 30.92% and a net margin of 10.21%. The business had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. As a group, research analysts forecast that WEX Inc. will post 13.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Evercore ISI upped their price objective on WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Truist Financial raised their price target on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a report on Friday, February 9th. Barclays boosted their price objective on WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Mizuho raised their target price on shares of WEX from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, Robert W. Baird boosted their price target 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. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $240.00.

Insiders Place Their Bets

In other news, insider Hilary A. Rapkin sold 5,800 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $222.55, for a total transaction of $1,290,790.00. Following the completion of the sale, the insider now owns 10,569 shares of the company’s stock, valued at $2,352,130.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Sara Trickett sold 734 shares of WEX stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total value of $154,455.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Hilary A. Rapkin sold 5,800 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $222.55, for a total value of $1,290,790.00. Following the transaction, the insider now directly owns 10,569 shares of the company’s stock, valued at approximately $2,352,130.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,157 shares of company stock worth $7,090,562. Company insiders own 1.10% of the company’s stock.

WEX Profile

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.