WEX Inc. (NYSE:WEX) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its position in WEX Inc. (NYSE:WEXFree Report) by 25.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 156,286 shares of the business services provider’s stock after buying an additional 31,332 shares during the period. Massachusetts Financial Services Co. MA owned 0.37% of WEX worth $29,396,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp boosted its position in WEX by 111.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider’s stock worth $170,000 after purchasing an additional 500 shares during the period. Bank of Montreal Can boosted its position in WEX by 8.1% during the first quarter. Bank of Montreal Can now owns 4,181 shares of the business services provider’s stock worth $732,000 after purchasing an additional 315 shares during the period. BlackRock Inc. boosted its position in WEX by 1.2% during the first quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock worth $732,950,000 after purchasing an additional 49,480 shares during the period. Great West Life Assurance Co. Can boosted its position in WEX by 8.1% during the first quarter. Great West Life Assurance Co. Can now owns 24,375 shares of the business services provider’s stock worth $4,471,000 after purchasing an additional 1,824 shares during the period. Finally, Sei Investments Co. boosted its position in WEX by 38.3% during the first quarter. Sei Investments Co. now owns 21,260 shares of the business services provider’s stock worth $3,793,000 after purchasing an additional 5,884 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

Insiders Place Their Bets

In other WEX news, Director Jack Vanwoerkom sold 2,000 shares of the 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 completion of the transaction, the director now directly owns 8,319 shares in the company, valued at $1,450,667.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WEX news, Director Jack Vanwoerkom sold 2,000 shares of the 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 completion of the transaction, the director now directly owns 8,319 shares in the company, valued at $1,450,667.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Melissa D. Smith sold 41,107 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $205.00, for a total value of $8,426,935.00. Following the transaction, the chief executive officer now owns 81,998 shares of the company’s stock, valued at $16,809,590. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

WEX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on WEX from $205.00 to $239.00 and gave the stock a “neutral” rating in a research report on Friday. StockNews.com raised WEX from a “hold” rating to a “buy” rating in a research report on Friday. TheStreet raised WEX from a “c” rating to a “b” rating in a research report on Thursday. Truist Financial increased their price objective on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research report on Friday. Finally, Morgan Stanley reduced their price objective on WEX from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, October 27th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $224.23.

Get Our Latest Research Report on WEX

WEX Stock Up 2.5 %

Shares of WEX stock opened at $212.14 on Friday. The stock has a market cap of $9.07 billion, a P/E ratio of 34.44, a price-to-earnings-growth ratio of 1.35 and a beta of 1.60. WEX Inc. has a one year low of $161.95 and a one year high of $213.61. The stock has a fifty day moving average price of $196.04 and a 200 day moving average price of $189.85. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.03.

WEX Profile

(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

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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