Cwm LLC Increases Holdings in WEX Inc. (NYSE:WEX)

Cwm LLC increased its holdings in shares of WEX Inc. (NYSE:WEX – Get Rating) by 99.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 265 shares of the business services provider’s stock after purchasing an additional 132 shares during the period. Cwm LLC’s holdings in WEX were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in WEX during the 1st quarter worth $44,000. Charter Oak Capital Management LLC purchased a new position in WEX in the 2nd quarter valued at about $42,000. Wipfli Financial Advisors LLC purchased a new position in WEX in the 3rd quarter valued at about $43,000. DekaBank Deutsche Girozentrale purchased a new position in WEX in the 2nd quarter valued at about $108,000. Finally, Wakefield Asset Management LLLP purchased a new position in WEX in the 2nd quarter valued at about $128,000. 98.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Hilary A. Rapkin sold 6,156 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $165.19, for a total transaction of $1,016,909.64. Following the sale, the insider now owns 12,328 shares in the company, valued at $2,036,462.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other WEX news, COO Robert Joseph Deshaies sold 1,000 shares of the firm’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 value of $163,320.00. Following the sale, the chief operating officer now owns 8,537 shares in the company, valued at $1,394,262.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,016,909.64. Following the completion of the sale, the insider now owns 12,328 shares in the company, valued at approximately $2,036,462.32. The disclosure for this sale can be found here. Insiders have sold a total of 12,426 shares of company stock worth $2,102,480 over the last quarter. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WEX has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of WEX from $170.00 to $190.00 and gave the company a “hold” rating in a research report on Friday. Bank of America decreased their price objective on shares of WEX from $225.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, October 20th. StockNews.com started coverage on shares of WEX in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Robert W. Baird upped their target price on shares of WEX from $170.00 to $180.00 in a research note on Friday, October 28th. Finally, Wells Fargo & Company upped their target price on shares of WEX from $185.00 to $193.00 and gave the company an “overweight” rating in a research note on Monday, January 9th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.75.

WEX Price Performance

WEX opened at $177.08 on Friday. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 80.13, a price-to-earnings-growth ratio of 0.73 and a beta of 1.59. WEX Inc. has a fifty-two week low of $125.00 and a fifty-two week high of $183.38. The company’s 50-day moving average price is $165.04 and its 200 day moving average price is $158.02. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.62.

WEX (NYSE:WEX – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The business services provider reported $3.01 earnings per share for the quarter, missing the consensus estimate of $3.12 by ($0.11). The business had revenue of $616.13 million for the quarter, compared to analyst estimates of $590.54 million. WEX had a return on equity of 27.73% and a net margin of 4.53%. As a group, sell-side analysts expect that WEX Inc. will post 11.63 earnings per share for the current year.

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.