KBC Group NV Makes New $163,000 Investment in WEX Inc. (NYSE:WEX)

KBC Group NV acquired a new stake in WEX Inc. (NYSE:WEXFree Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 837 shares of the business services provider’s stock, valued at approximately $163,000.

Several other large investors also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of WEX in the 4th quarter valued at $27,000. VisionPoint Advisory Group LLC raised its stake in WEX by 74.7% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after buying an additional 62 shares during the period. Principal Securities Inc. bought a new stake in shares of WEX during the fourth quarter valued at approximately $31,000. Cary Street Partners Investment Advisory LLC raised its position in shares of WEX by 896.8% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the business services provider’s stock worth $58,000 after purchasing an additional 278 shares during the period. Finally, CWM LLC lifted its holdings in shares of WEX by 15.6% in the 4th quarter. CWM LLC now owns 377 shares of the business services provider’s stock worth $73,000 after purchasing an additional 51 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Stock Performance

Shares of WEX opened at $181.10 on Tuesday. WEX Inc. has a 52-week low of $161.95 and a 52-week high of $244.04. The stock’s 50-day simple moving average is $210.83 and its 200 day simple moving average is $208.28. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 1.05 and a beta of 1.56.

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

Insider Activity at WEX

In other WEX news, COO Robert Joseph Deshaies sold 1,897 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $211.01, for a total transaction of $400,285.97. Following the sale, the chief operating officer now owns 9,408 shares in the company, valued at $1,985,182.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the sale, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at $1,289,350.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert Joseph Deshaies sold 1,897 shares of WEX stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $211.01, for a total value of $400,285.97. Following the completion of the sale, the chief operating officer now owns 9,408 shares in the company, valued at $1,985,182.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,140 shares of company stock valued at $880,673. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on WEX. Wells Fargo & Company started coverage on shares of WEX in a research note on Wednesday, June 5th. They set an “equal weight” rating and a $200.00 price target for the company. Barclays boosted their target price on shares of WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. StockNews.com cut shares of WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Citigroup boosted their price objective on WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Mizuho raised their target price on WEX from $225.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, WEX presently has an average rating of “Hold” and an average target price of $237.14.

Read Our Latest Research Report on WEX

WEX Company 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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