WEX Inc. (NYSE:WEX) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in shares of WEX Inc. (NYSE:WEXFree Report) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,204 shares of the business services provider’s stock after selling 79 shares during the quarter. Amalgamated Bank owned 0.07% of WEX worth $5,493,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WEX. Duality Advisers LP acquired a new stake in shares of WEX during the second quarter worth about $256,000. Bank of Montreal Can purchased a new position in WEX in the 2nd quarter valued at approximately $1,569,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of WEX in the second quarter worth $260,000. Allspring Global Investments Holdings LLC increased its position in shares of WEX by 11.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 54,194 shares of the business services provider’s stock worth $10,194,000 after acquiring an additional 5,756 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of WEX by 3.4% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 843,498 shares of the business services provider’s stock valued at $145,166,000 after acquiring an additional 28,013 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on WEX. Barclays lowered their target price on WEX from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. Mizuho upped their target price on shares of WEX from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. TheStreet cut shares of WEX from a “b-” rating to a “c” rating in a report on Thursday, October 26th. Wolfe Research raised shares of WEX from a “peer perform” rating to an “outperform” rating and set a $240.00 target price on the stock in a report on Tuesday, October 17th. Finally, Morgan Stanley reduced their target price on shares of WEX from $205.00 to $200.00 and set an “equal weight” rating on the stock in a report on Friday, October 27th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $221.46.

Read Our Latest Research Report on WEX

WEX Stock Up 0.4 %

WEX stock opened at $199.49 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.56. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $210.95. The company’s 50 day moving average is $194.29 and its two-hundred day moving average is $189.52. The stock has a market cap of $8.53 billion, a P/E ratio of 32.18, a PEG ratio of 1.30 and a beta of 1.60.

Insider Transactions at WEX

In other news, Director Jack Vanwoerkom sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $174.38, for a total transaction of $348,760.00. Following the transaction, the director now directly owns 8,319 shares in the company, valued at $1,450,667.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other WEX news, CEO Melissa D. Smith sold 41,107 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the sale, the chief executive officer now directly owns 81,998 shares in the company, valued at approximately $16,809,590. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack Vanwoerkom sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $174.38, for a total transaction of $348,760.00. Following the sale, the director now owns 8,319 shares in the company, valued at $1,450,667.22. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

About WEX

(Free Report)

WEX Inc operates a commerce platform in the United States and internationally. The Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and tools to fleets to manage expenses and capital requirements.

Further Reading

Institutional Ownership by Quarter for WEX (NYSE:WEX)

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