CIBC Private Wealth Group LLC Increases Stock Holdings in WEX Inc. (NYSE:WEX)

CIBC Private Wealth Group LLC boosted its position in shares of WEX Inc. (NYSE:WEXFree Report) by 6.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,771 shares of the business services provider’s stock after acquiring an additional 219 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in WEX were worth $734,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WEX. Norges Bank acquired a new stake in WEX in the 4th quarter valued at about $89,745,000. Kodai Capital Management LP acquired a new stake in WEX in the 4th quarter valued at about $49,750,000. Handelsbanken Fonder AB raised its position in WEX by 2,524.0% in the 4th quarter. Handelsbanken Fonder AB now owns 163,844 shares of the business services provider’s stock valued at $31,876,000 after purchasing an additional 157,600 shares in the last quarter. Vanguard Group Inc. raised its position in WEX by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,131,124 shares of the business services provider’s stock valued at $777,023,000 after purchasing an additional 83,102 shares in the last quarter. Finally, Creative Planning raised its position in WEX by 110.6% in the 3rd quarter. Creative Planning now owns 143,702 shares of the business services provider’s stock valued at $27,029,000 after purchasing an additional 75,476 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Trading Down 0.0 %

Shares of WEX stock opened at $181.10 on Tuesday. The business’s 50 day moving average is $210.83 and its two-hundred day moving average is $208.28. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $244.04. The company has a market capitalization of $7.59 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 1.05 and a beta of 1.56. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.73.

WEX (NYSE:WEXGet Free Report) last announced its earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.15. WEX had a return on equity of 30.92% and a net margin of 10.21%. The company had revenue of $652.70 million for the quarter, compared to the consensus estimate of $653.52 million. Equities analysts forecast that WEX Inc. will post 13.98 EPS for the current year.

Insider Buying and Selling at WEX

In other WEX news, SVP Sara Trickett sold 734 shares of WEX stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total value of $154,455.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Sara Trickett sold 734 shares of WEX stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total value of $154,455.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jagtar Narula sold 309 shares of WEX stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total value of $72,071.16. Following the completion of the sale, the chief financial officer now owns 5,528 shares in the company, valued at $1,289,350.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,140 shares of company stock worth $880,673. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WEX. Evercore ISI increased their price target on WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Jefferies Financial Group raised their target price on WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Citigroup raised their target price on WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Robert W. Baird raised their target price on WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, StockNews.com lowered WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, WEX presently has a consensus rating of “Hold” and an average target price of $237.14.

Get Our Latest Research Report on WEX

WEX Profile

(Free Report)

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation 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 offerings.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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