WEX Inc. (NYSE:WEX) Shares Sold by Pendal Group Ltd

Posted by Defense World Staff on Mar 29th, 2023

Pendal Group Ltd reduced its position in shares of WEX Inc. (NYSE:WEX – Get Rating) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,228 shares of the business services provider’s stock after selling 79 shares during the period. Pendal Group Ltd’s holdings in WEX were worth $1,510,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WEX. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of WEX by 111.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider’s stock valued at $170,000 after purchasing an additional 500 shares during the period. Bank of Montreal Can lifted its holdings in WEX by 8.1% in the 1st 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 last quarter. BlackRock Inc. lifted its holdings in WEX by 1.2% in the 1st 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 last quarter. Great West Life Assurance Co. Can lifted its holdings in WEX by 8.1% in the 1st 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 last quarter. Finally, Sei Investments Co. lifted its holdings in WEX by 38.3% in the 1st 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 last quarter. 98.65% of the stock is owned by institutional investors and hedge funds.

WEX Trading Up 1.2 %

NYSE WEX opened at $174.88 on Wednesday. The firm has a market cap of $7.54 billion, a P/E ratio of 38.95, a P/E/G ratio of 1.83 and a beta of 1.59. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s 50-day moving average is $184.87 and its 200-day moving average is $165.66. WEX Inc. has a one year low of $125.00 and a one year high of $204.05.

Analyst Ratings Changes

A number of brokerages have recently commented on WEX. Wells Fargo & Company upped their price target on WEX from $193.00 to $230.00 in a report on Friday, February 10th. Barclays decreased their target price on WEX from $213.00 to $209.00 and set an “overweight” rating on the stock in a report on Monday, January 23rd. StockNews.com initiated coverage on WEX in a report on Thursday, March 16th. They set a “hold” rating on the stock. TheStreet raised WEX from a “c” rating to a “b-” rating in a research note on Thursday, February 9th. Finally, Morgan Stanley increased their target price on WEX from $157.00 to $199.00 and gave the company an “equal weight” rating in a research note on Friday, February 10th. Three analysts have rated the stock with a hold rating and seven have assigned 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 price target of $209.00.

Insider Transactions at WEX

In related news, COO Robert Joseph Deshaies sold 1,000 shares of the stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $199.19, for a total transaction of $199,190.00. Following the completion of the transaction, the chief operating officer now directly owns 7,537 shares in the company, valued at $1,501,295.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Regina O. Sommer sold 1,261 shares of the stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $190.52, for a total transaction of $240,245.72. Following the completion of the transaction, the director now directly owns 14,272 shares in the company, valued at $2,719,101.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Robert Joseph Deshaies sold 1,000 shares of the stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $199.19, for a total value of $199,190.00. Following the transaction, the chief operating officer now owns 7,537 shares of the company’s stock, valued at $1,501,295.03. The disclosure for this sale can be found here. Insiders have sold a total of 26,634 shares of company stock valued at $5,126,036 over the last 90 days. 1.00% of the stock is owned by company insiders.

WEX Company Profile

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WEX Inc provides financial technology services in the United States and internationally. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.

WEX Inc. (NYSE:WEX) Shares Sold by Pendal Group Ltd

WEX Trading Up 1.2 %

Analyst Ratings Changes

Insider Transactions at WEX

WEX Company Profile

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