Great West Life Assurance Co. Can Buys Shares of 30,351 WEX Inc. (NYSE:WEX)

Great West Life Assurance Co. Can bought a new stake in shares of WEX Inc. (NYSE:WEXGet Rating) in the third quarter, HoldingsChannel reports. The institutional investor bought 30,351 shares of the business services provider’s stock, valued at approximately $3,857,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC raised its position in WEX by 17.5% during the 3rd quarter. Jennison Associates LLC now owns 490,765 shares of the business services provider’s stock valued at $62,298,000 after purchasing an additional 73,000 shares in the last quarter. Raymond James Trust N.A. raised its position in WEX by 37.9% during the 3rd quarter. Raymond James Trust N.A. now owns 2,425 shares of the business services provider’s stock valued at $308,000 after purchasing an additional 667 shares in the last quarter. Comerica Bank raised its position in WEX by 22.8% during the 3rd quarter. Comerica Bank now owns 25,302 shares of the business services provider’s stock valued at $3,639,000 after purchasing an additional 4,701 shares in the last quarter. CWM LLC raised its position in shares of WEX by 99.2% in the 3rd quarter. CWM LLC now owns 265 shares of the business services provider’s stock worth $34,000 after acquiring an additional 132 shares in the last quarter. Finally, Strs Ohio raised its position in shares of WEX by 23.9% in the 3rd quarter. Strs Ohio now owns 7,226 shares of the business services provider’s stock worth $917,000 after acquiring an additional 1,395 shares in the last quarter. 98.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on WEX shares. Mizuho reduced their price target on WEX from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, November 14th. Morgan Stanley boosted their price target on WEX from $148.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Friday, October 28th. Bank of America reduced their target price on WEX from $225.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, October 20th. Keefe, Bruyette & Woods reduced their target price on WEX from $226.00 to $185.00 in a research report on Monday, October 10th. Finally, Barclays reduced their target price on WEX from $213.00 to $209.00 and set an “overweight” rating on the stock in a research report on Monday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.42.

WEX Stock Up 1.9 %

WEX stock opened at $180.45 on Tuesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50-day simple moving average is $165.45 and its two-hundred day simple moving average is $158.20. The company has a market cap of $7.87 billion, a PE ratio of 81.65, a PEG ratio of 0.74 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.

WEX (NYSE:WEXGet Rating) last posted its quarterly earnings results 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). WEX had a net margin of 4.53% and a return on equity of 27.73%. The firm had revenue of $616.13 million for the quarter, compared to analysts’ expectations of $590.54 million. Equities analysts anticipate that WEX Inc. will post 11.61 EPS for the current year.

Insider Transactions at WEX

In other news, insider Hilary A. Rapkin sold 6,156 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $165.19, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Hilary A. Rapkin sold 6,156 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $165.19, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hilary A. Rapkin sold 5,270 shares of the company’s stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $175.00, for a total value of $922,250.00. Following the completion of the sale, the insider now owns 12,203 shares in the company, valued at approximately $2,135,525. The disclosure for this sale can be found here. Insiders have sold 12,426 shares of company stock worth $2,102,480 over the last quarter. 1.00% of the stock is currently owned by insiders.

WEX Company Profile

(Get Rating)

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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