Lazard Asset Management LLC Purchases 713 Shares of WEX Inc. (NYSE:WEX)

Lazard Asset Management LLC lifted its position in WEX Inc. (NYSE:WEXGet Rating) by 284.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 964 shares of the business services provider’s stock after acquiring an additional 713 shares during the quarter. Lazard Asset Management LLC’s holdings in WEX were worth $149,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WEX. Truist Financial Corp bought a new stake in shares of WEX in the 1st quarter worth $206,000. Securian Asset Management Inc. grew its position in WEX by 2.5% during the first quarter. Securian Asset Management Inc. now owns 4,082 shares of the business services provider’s stock valued at $728,000 after buying an additional 100 shares during the period. Martin & Co. Inc. TN grew its position in WEX by 1.3% during the first quarter. Martin & Co. Inc. TN now owns 16,011 shares of the business services provider’s stock valued at $2,857,000 after buying an additional 212 shares during the period. Versor Investments LP bought a new position in WEX during the first quarter valued at about $347,000. Finally, Envestnet Asset Management Inc. grew its position in WEX by 1.6% during the first quarter. Envestnet Asset Management Inc. now owns 7,476 shares of the business services provider’s stock valued at $1,334,000 after buying an additional 116 shares during the period. Institutional investors own 99.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Robert W. Baird increased their price target on shares of WEX from $170.00 to $180.00 in a research report on Friday, October 28th. Barclays increased their target price on shares of WEX from $211.00 to $213.00 and gave the stock an “overweight” rating in a research report on Monday, October 31st. Wells Fargo & Company increased their target price on shares of WEX from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, October 28th. StockNews.com started coverage on shares of WEX in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Morgan Stanley increased their target price on shares of WEX from $148.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Friday, October 28th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.42.

Insider Activity at WEX

In related news, insider Hilary A. Rapkin sold 6,156 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $165.19, for a total value of $1,016,909.64. Following the sale, the insider now directly owns 12,328 shares of the company’s stock, valued at $2,036,462.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other WEX news, Director James R. Groch purchased 1,400 shares of the firm’s stock in a transaction on Thursday, November 3rd. The shares were purchased at an average cost of $151.25 per share, with a total value of $211,750.00. Following the completion of the purchase, the director now owns 8,465 shares of the company’s stock, valued at approximately $1,280,331.25. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Hilary A. Rapkin sold 6,156 shares of WEX stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $165.19, for a total transaction of $1,016,909.64. Following the transaction, the insider now directly owns 12,328 shares in the company, valued at $2,036,462.32. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

WEX Trading Down 0.6 %

Shares of WEX opened at $156.23 on Tuesday. The firm’s 50 day simple moving average is $146.97 and its 200 day simple moving average is $156.34. The company has a market capitalization of $6.81 billion, a P/E ratio of 70.69, a P/E/G ratio of 0.70 and a beta of 1.63. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.12 and a quick ratio of 1.12. WEX Inc. has a 1-year low of $123.01 and a 1-year high of $183.38.

About WEX

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WEX Inc provides financial technology services in the United States and internationally. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.

See Also

Institutional Ownership by Quarter for WEX (NYSE:WEX)

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