Great West Life Assurance Co. Can Invests $3.86 Million in WEX Inc. (NYSE:WEX)

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

A number of other hedge funds have also recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new position in WEX during the first quarter worth approximately $44,000. CWM LLC boosted its position in WEX by 99.2% during the third quarter. CWM LLC now owns 265 shares of the business services provider’s stock worth $34,000 after purchasing an additional 132 shares in the last quarter. Charter Oak Capital Management LLC purchased a new position in WEX during the second quarter worth approximately $42,000. Wipfli Financial Advisors LLC purchased a new position in WEX during the third quarter worth approximately $43,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in WEX during the second quarter worth approximately $108,000. Hedge funds and other institutional investors own 98.65% of the company’s stock.

Insider Transactions at WEX

In other news, insider Hilary A. Rapkin sold 5,270 shares of the firm’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $175.00, for a total transaction of $922,250.00. Following the completion of the transaction, the insider now directly owns 12,203 shares in the company, valued at $2,135,525. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Hilary A. Rapkin sold 5,270 shares of the firm’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $175.00, for a total transaction of $922,250.00. Following the completion of the transaction, the insider now directly owns 12,203 shares in the company, valued at $2,135,525. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Hilary A. Rapkin sold 6,156 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 12,328 shares of the company’s stock, valued at $2,036,462.32. The disclosure for this sale can be found here. Insiders sold a total of 12,426 shares of company stock worth $2,102,480 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Morgan Stanley increased their target price on WEX from $148.00 to $157.00 and gave the company an “equal weight” rating in a report on Friday, October 28th. Robert W. Baird increased their target price on WEX from $170.00 to $180.00 in a report on Friday, October 28th. Mizuho reduced their target price on WEX from $220.00 to $200.00 and set a “buy” rating for the company in a report on Monday, November 14th. Keefe, Bruyette & Woods reduced their target price on WEX from $226.00 to $185.00 in a report on Monday, October 10th. Finally, Barclays reduced their target price on WEX from $213.00 to $209.00 and set an “overweight” rating for the company in a report on Monday. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.42.

WEX Trading Up 1.9 %

Shares of WEX stock opened at $180.45 on Tuesday. The firm has a market capitalization of $7.87 billion, a price-to-earnings 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. 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 stock has a 50 day moving average of $165.45 and a 200 day moving average of $158.20.

WEX (NYSE:WEXGet Rating) last issued 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 during the quarter, compared to analysts’ expectations of $590.54 million. WEX had a return on equity of 27.73% and a net margin of 4.53%. As a group, research analysts predict that WEX Inc. will post 11.61 earnings per share for the current year.

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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