Mercer Global Advisors Inc. ADV bought a new stake in WEX Inc. (NYSE:WEX – Get Rating) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,557 shares of the business services provider’s stock, valued at approximately $251,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. National Bank of Canada FI acquired a new stake in shares of WEX in the 4th quarter worth about $26,000. Lindbrook Capital LLC grew its position in WEX by 85.6% in the 4th quarter. Lindbrook Capital LLC now owns 167 shares of the business services provider’s stock worth $27,000 after purchasing an additional 77 shares during the last quarter. Fred Alger Management LLC acquired a new stake in shares of WEX in the third quarter valued at approximately $34,000. Signaturefd LLC raised its holdings in shares of WEX by 70.2% during the fourth quarter. Signaturefd LLC now owns 223 shares of the business services provider’s stock valued at $36,000 after buying an additional 92 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in shares of WEX during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 98.65% of the company’s stock.
Analysts Set New Price Targets
WEX has been the topic of several recent analyst reports. StockNews.com began coverage on WEX in a research note on Thursday, May 18th. They set a “hold” rating on the stock. TheStreet raised shares of WEX from a “c” rating to a “b-” rating in a report on Thursday, February 9th. Mizuho lowered their target price on shares of WEX from $220.00 to $200.00 in a research note on Monday, May 1st. Wells Fargo & Company upped their price target on shares of WEX from $193.00 to $230.00 in a research note on Friday, February 10th. Finally, Robert W. Baird raised their price objective on shares of WEX from $222.00 to $236.00 in a research note on Friday, April 28th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $208.90.
Insider Activity at WEX
WEX Price Performance
NYSE WEX opened at $167.69 on Friday. The business’s fifty day moving average is $177.28 and its two-hundred day moving average is $175.41. The stock has a market capitalization of $7.18 billion, a P/E ratio of 50.21, a P/E/G ratio of 1.88 and a beta of 1.59. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.07 and a current ratio of 1.07. WEX Inc. has a 1 year low of $125.00 and a 1 year high of $204.05.
WEX Company Profile
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.
- Get a free copy of the StockNews.com research report on WEX (WEX)
- Ralph Lauren’s Styled Dividend Is Still In Season
- Dollar Tree Falls As Theft Cuts Into Bottom Line
- Best Buy’s Comeback Is Still At Play, Earnings Call For Patience
- e.l.f. Beauty Has Giant Quarter, Shares Hit New High
- If You Can Only Pick One Stock For The Rest Of 2023, Pick Nvidia
Want to see what other hedge funds are holding WEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEX Inc. (NYSE:WEX – Get Rating).
Receive News & Ratings for WEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEX and related companies with MarketBeat.com's FREE daily email newsletter.