Victory Capital Management Inc. boosted its position in shares of WEX Inc. (NYSE:WEX – Free Report) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,742 shares of the business services provider’s stock after buying an additional 186 shares during the period. Victory Capital Management Inc.’s holdings in WEX were worth $1,456,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in WEX. FinTrust Capital Advisors LLC purchased a new stake in shares of WEX during the fourth quarter worth approximately $25,000. Fred Alger Management LLC acquired a new stake in shares of WEX in the third quarter valued at about $34,000. International Assets Investment Management LLC acquired a new stake in shares of WEX in the third quarter valued at about $37,000. State of Wyoming acquired a new position in WEX during the second quarter worth about $38,000. Finally, Lazard Asset Management LLC purchased a new stake in WEX during the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 97.47% of the company’s stock.
WEX Stock Performance
NYSE:WEX opened at $212.14 on Friday. The stock has a market capitalization of $9.07 billion, a P/E ratio of 34.44, a PEG ratio of 1.35 and a beta of 1.60. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.03 and a current ratio of 1.05. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $213.61. The company has a 50 day moving average price of $196.04 and a 200 day moving average price of $189.80.
Insiders Place Their Bets
Analysts Set New Price Targets
A number of research firms have weighed in on WEX. Morgan Stanley decreased their target price on shares of WEX from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Friday, October 27th. StockNews.com raised WEX from a “hold” rating to a “buy” rating in a research note on Friday. Truist Financial upped their target price on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a report on Friday. TheStreet raised shares of WEX from a “c” rating to a “b” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $223.75.
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.
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