Hennion & Walsh Asset Management Inc. raised its holdings in WEX Inc. (NYSE:WEX – Free Report) by 16.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,292 shares of the business services provider’s stock after purchasing an additional 455 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in WEX were worth $577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in WEX. Radnor Capital Management LLC bought a new position in WEX during the fourth quarter valued at about $331,000. Assenagon Asset Management S.A. bought a new position in shares of WEX during the 4th quarter valued at approximately $1,168,000. Fifth Third Wealth Advisors LLC grew its position in shares of WEX by 265.1% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,280 shares of the business services provider’s stock valued at $926,000 after acquiring an additional 3,834 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of WEX during the 3rd quarter worth approximately $35,000. Finally, World Investment Advisors LLC bought a new stake in shares of WEX in the 3rd quarter worth approximately $2,507,000. 97.47% of the stock is owned by hedge funds and other institutional investors.
WEX Price Performance
Shares of NYSE:WEX opened at $184.40 on Tuesday. The company has a 50 day moving average of $178.81 and a 200 day moving average of $186.19. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The stock has a market cap of $7.34 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.23 and a beta of 1.58. WEX Inc. has a 12 month low of $165.51 and a 12 month high of $244.04.
Analyst Upgrades and Downgrades
WEX has been the subject of several research reports. Bank of America increased their price objective on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Citigroup downgraded WEX from a “buy” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $190.00 in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods lowered their price objective on WEX from $247.00 to $220.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Robert W. Baird cut their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Wells Fargo & Company reduced their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, WEX has an average rating of “Moderate Buy” and an average price target of $219.55.
Check Out Our Latest Stock Analysis on WEX
Insiders Place Their Bets
In other WEX news, COO Robert Joseph Deshaies sold 175 shares of WEX stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the sale, the chief operating officer now directly owns 7,582 shares in the company, valued at $1,436,334.08. The trade was a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
WEX Profile
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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