WEX Inc. (NYSE:WEX) Shares Bought by Natixis Advisors L.P.

Posted by on Apr 18th, 2023

Natixis Advisors L.P. boosted its holdings in shares of WEX Inc. (NYSE:WEX – Get Rating) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,838 shares of the business services provider’s stock after acquiring an additional 238 shares during the period. Natixis Advisors L.P.’s holdings in WEX were worth $3,246,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of WEX by 3.2% in the first quarter. Vanguard Group Inc. now owns 4,196,239 shares of the business services provider’s stock valued at $748,819,000 after buying an additional 131,664 shares during the last quarter. BlackRock Inc. raised its position in shares of WEX by 1.2% in the first quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock valued at $732,950,000 after buying an additional 49,480 shares during the last quarter. Wellington Management Group LLP raised its position in shares of WEX by 4.2% in the first quarter. Wellington Management Group LLP now owns 4,101,566 shares of the business services provider’s stock valued at $731,925,000 after buying an additional 164,902 shares during the last quarter. Impactive Capital LP raised its position in shares of WEX by 1.3% in the third quarter. Impactive Capital LP now owns 2,156,986 shares of the business services provider’s stock valued at $273,808,000 after buying an additional 28,189 shares during the last quarter. Finally, Par Capital Management Inc. raised its position in shares of WEX by 2.4% in the third quarter. Par Capital Management Inc. now owns 1,850,000 shares of the business services provider’s stock valued at $234,839,000 after buying an additional 42,700 shares during the last quarter. Institutional investors and hedge funds own 98.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WEX. Wells Fargo & Company boosted their price objective on shares of WEX from $193.00 to $230.00 in a research report on Friday, February 10th. Truist Financial lowered their target price on shares of WEX from $215.00 to $185.00 in a report on Thursday, March 16th. StockNews.com started coverage on shares of WEX in a research report on Thursday, March 16th. They set a “hold” rating for the company. Mizuho upped their price target on shares of WEX from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. Finally, Citigroup upped their price target on shares of WEX from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, February 13th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.00.

Insider Transactions at WEX

In other news, CTO David G. Cooper sold 16,639 shares of the stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $197.00, for a total value of $3,277,883.00. Following the completion of the sale, the chief technology officer now owns 6,358 shares of the company’s stock, valued at $1,252,526. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Melanie J. Tinto sold 2,464 shares of the firm’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $197.43, for a total transaction of $486,467.52. Following the completion of the sale, the insider now directly owns 3,889 shares of the company’s stock, valued at approximately $767,805.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO David G. Cooper sold 16,639 shares of the firm’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $197.00, for a total transaction of $3,277,883.00. Following the sale, the chief technology officer now directly owns 6,358 shares of the company’s stock, valued at $1,252,526. The disclosure for this sale can be found here. Insiders sold 21,364 shares of company stock valued at $4,203,786 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

WEX Price Performance

WEX stock opened at $190.91 on Tuesday. WEX Inc. has a 52-week low of $125.00 and a 52-week high of $204.05. The firm has a fifty day moving average of $185.07 and a 200-day moving average of $169.76. The firm has a market capitalization of $8.23 billion, a P/E ratio of 42.52, a PEG ratio of 2.05 and a beta of 1.60. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.53.

About WEX

(Get Rating)

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.

Featured Stories

Institutional Ownership by Quarter for WEX (NYSE:WEX)

Receive News & Ratings for WEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEX and related companies with MarketBeat.com's FREE daily email newsletter.