State Board of Administration of Florida Retirement System raised its position in WEX Inc. (NYSE:WEX – Get Rating) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,409 shares of the business services provider’s stock after acquiring an additional 130 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of WEX worth $7,758,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI acquired a new stake in WEX in the fourth quarter valued at approximately $26,000. Lindbrook Capital LLC boosted its stake in WEX by 85.6% in the fourth quarter. Lindbrook Capital LLC now owns 167 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 77 shares in the last quarter. CWM LLC boosted its stake in WEX by 99.2% in the third quarter. CWM LLC now owns 265 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 132 shares in the last quarter. Fred Alger Management LLC acquired a new stake in WEX in the third quarter valued at approximately $34,000. Finally, Signaturefd LLC lifted its stake in shares of WEX by 70.2% during the fourth quarter. Signaturefd LLC now owns 223 shares of the business services provider’s stock worth $36,000 after buying an additional 92 shares during the period. 98.65% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on WEX shares. Mizuho lowered their price objective on shares of WEX from $220.00 to $200.00 in a research note on Monday, May 1st. Robert W. Baird lifted their price objective on shares of WEX from $222.00 to $236.00 in a research note on Friday, April 28th. Citigroup lifted their price objective on shares of WEX from $190.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, February 13th. Barclays lowered their price objective on shares of WEX from $213.00 to $209.00 and set an “overweight” rating for the company in a research note on Monday, January 23rd. Finally, Morgan Stanley lifted their price objective on shares of WEX from $157.00 to $199.00 and gave the stock an “equal weight” rating in a research note on Friday, February 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.90.
WEX Trading Down 0.0 %
WEX (NYSE:WEX – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The business services provider reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.27. WEX had a net margin of 6.00% and a return on equity of 32.29%. The company had revenue of $618.61 million during the quarter, compared to analysts’ expectations of $575.79 million. Research analysts forecast that WEX Inc. will post 12.28 earnings per share for the current year.
Insider Buying and Selling at WEX
In other WEX news, insider Melanie J. Tinto sold 2,464 shares of WEX stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $197.43, for a total value of $486,467.52. Following the completion of the transaction, the insider now owns 3,889 shares of the company’s stock, valued at $767,805.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other WEX news, insider Melanie J. Tinto sold 2,464 shares of WEX stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $197.43, for a total value of $486,467.52. Following the completion of the transaction, the insider now owns 3,889 shares of the company’s stock, valued at $767,805.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Regina O. Sommer sold 1,261 shares of the business’s 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 sale, the director now directly owns 14,272 shares of the company’s stock, valued at approximately $2,719,101.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,464 shares of company stock valued at $4,388,355. Corporate insiders own 1.00% of the company’s stock.
WEX Company Profile
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.
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