Cwm LLC Buys 51 Shares of WEX Inc. (NYSE:WEX)

Cwm LLC raised its stake in shares of WEX Inc. (NYSE:WEX) by 15.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 377 shares of the business services provider’s stock after purchasing an additional 51 shares during the period. Cwm LLC’s holdings in WEX were worth $73,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WEX. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of WEX by 1.7% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 32,931 shares of the business services provider’s stock worth $6,407,000 after purchasing an additional 542 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in WEX by 2.8% in the 4th quarter. Verdence Capital Advisors LLC now owns 12,053 shares of the business services provider’s stock worth $2,345,000 after buying an additional 324 shares in the last quarter. Cornerstone Investment Partners LLC raised its holdings in WEX by 8.7% during the fourth quarter. Cornerstone Investment Partners LLC now owns 3,278 shares of the business services provider’s stock valued at $638,000 after acquiring an additional 263 shares during the period. Federated Hermes Inc. lifted its position in shares of WEX by 8.4% in the fourth quarter. Federated Hermes Inc. now owns 372,006 shares of the business services provider’s stock valued at $72,374,000 after acquiring an additional 28,782 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of WEX by 11.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,197 shares of the business services provider’s stock worth $1,789,000 after acquiring an additional 978 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. William Blair reissued an “outperform” rating on shares of WEX in a report on Thursday, February 8th. Jefferies Financial Group upped their target price on shares of WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Mizuho lifted their price target on shares of WEX from $225.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Barclays boosted their price target on shares of WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Finally, Truist Financial lifted their target price on WEX from $185.00 to $220.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $240.00.

Insider Transactions at WEX

In related news, CAO Jennifer Kimball sold 1,200 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $211.55, for a total transaction of $253,860.00. Following the transaction, the chief accounting officer now directly owns 1,909 shares in the company, valued at approximately $403,848.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Ann Elena Drew sold 4,531 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total transaction of $987,893.93. Following the completion of the transaction, the insider now owns 3,653 shares in the company, valued at approximately $796,463.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer Kimball sold 1,200 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total value of $253,860.00. Following the completion of the sale, the chief accounting officer now owns 1,909 shares in the company, valued at approximately $403,848.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,157 shares of company stock worth $7,090,562. 1.10% of the stock is currently owned by insiders.

WEX Price Performance

Shares of WEX stock opened at $210.03 on Thursday. The stock has a market cap of $8.80 billion, a price-to-earnings ratio of 34.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.60. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day moving average price of $229.15 and a 200-day moving average price of $205.04. WEX Inc. has a one year low of $161.95 and a one year high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a return on equity of 30.92% and a net margin of 10.21%. The firm had revenue of $663.30 million for the quarter, compared to analysts’ expectations of $656.75 million. Equities analysts expect that WEX Inc. will post 13.96 EPS for the current year.

WEX Company 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.