Envestnet Asset Management Inc. Raises Stock Position in WEX Inc. (NYSE:WEX)

Envestnet Asset Management Inc. increased its position in shares of WEX Inc. (NYSE:WEXGet Rating) by 8.5% in the second quarter, Holdings Channel.com reports. The firm owned 8,111 shares of the business services provider’s stock after purchasing an additional 635 shares during the quarter. Envestnet Asset Management Inc.’s holdings in WEX were worth $1,262,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Stephens Inc. AR boosted its stake in shares of WEX by 0.6% during the 2nd quarter. Stephens Inc. AR now owns 44,201 shares of the business services provider’s stock worth $6,876,000 after purchasing an additional 270 shares during the period. Retirement Systems of Alabama lifted its holdings in WEX by 14.4% during the 2nd quarter. Retirement Systems of Alabama now owns 67,267 shares of the business services provider’s stock valued at $10,464,000 after buying an additional 8,459 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in WEX during the 2nd quarter valued at about $108,000. Treasurer of the State of North Carolina lifted its holdings in WEX by 15.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 18,995 shares of the business services provider’s stock valued at $2,955,000 after buying an additional 2,537 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in WEX by 35.2% during the 2nd quarter. Jennison Associates LLC now owns 417,765 shares of the business services provider’s stock valued at $64,988,000 after buying an additional 108,858 shares in the last quarter. 99.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other WEX news, COO Robert Joseph Deshaies sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $163.32, for a total transaction of $163,320.00. Following the sale, the chief operating officer now owns 8,537 shares of the company’s stock, valued at approximately $1,394,262.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other WEX news, COO Robert Joseph Deshaies sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $163.32, for a total transaction of $163,320.00. Following the sale, the chief operating officer now owns 8,537 shares of the company’s stock, valued at approximately $1,394,262.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Groch acquired 1,400 shares of the company’s stock in a transaction dated Thursday, November 3rd. The stock was acquired at an average cost of $151.25 per share, for a total transaction of $211,750.00. Following the completion of the acquisition, the director now directly owns 8,465 shares in the company, valued at $1,280,331.25. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WEX has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of WEX from $226.00 to $185.00 in a report on Monday, October 10th. Robert W. Baird boosted their price target on shares of WEX from $170.00 to $180.00 in a report on Friday, October 28th. Truist Financial boosted their price target on shares of WEX from $145.00 to $170.00 in a report on Monday, October 31st. Mizuho reduced their price target on shares of WEX from $220.00 to $200.00 and set a “buy” rating for the company in a report on Monday, November 14th. Finally, Morgan Stanley boosted their price target on shares of WEX from $148.00 to $157.00 and gave the company an “equal weight” rating in a report on Friday, October 28th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, WEX presently has an average rating of “Moderate Buy” and a consensus price target of $190.42.

WEX Stock Up 3.4 %

NYSE:WEX opened at $161.49 on Wednesday. The company has a market cap of $7.04 billion, a PE ratio of 73.07, a P/E/G ratio of 0.70 and a beta of 1.63. WEX Inc. has a twelve month low of $123.01 and a twelve month high of $183.38. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.62. The company’s 50 day moving average is $147.14 and its two-hundred day moving average is $156.37.

WEX Profile

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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.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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