National Bank of Canada FI raised its holdings in shares of WEX Inc. (NYSE:WEX – Free Report) by 1,081.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,867 shares of the business services provider’s stock after acquiring an additional 1,709 shares during the quarter. National Bank of Canada FI’s holdings in WEX were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp increased its holdings in WEX by 3.9% during the 1st quarter. M&T Bank Corp now owns 1,641 shares of the business services provider’s stock valued at $301,000 after acquiring an additional 62 shares in the last quarter. Headlands Technologies LLC purchased a new position in WEX during the 1st quarter valued at about $26,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in WEX by 835.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,239 shares of the business services provider’s stock valued at $963,000 after acquiring an additional 4,679 shares in the last quarter. Credit Suisse AG grew its holdings in shares of WEX by 3.0% during the first quarter. Credit Suisse AG now owns 69,134 shares of the business services provider’s stock worth $12,713,000 after buying an additional 2,019 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of WEX during the first quarter worth about $7,133,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.
WEX Trading Down 1.6 %
WEX opened at $187.74 on Friday. The firm has a market capitalization of $8.06 billion, a P/E ratio of 39.28, a P/E/G ratio of 1.49 and a beta of 1.59. The firm’s 50 day moving average is $192.51 and its 200-day moving average is $185.38. WEX Inc. has a 52-week low of $136.79 and a 52-week high of $204.05. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.41.
Insider Buying and Selling
In related news, COO Carlos Carriedo sold 756 shares of WEX stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $190.68, for a total value of $144,154.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Carlos Carriedo sold 756 shares of WEX stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $190.68, for a total value of $144,154.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert Joseph Deshaies sold 1,000 shares of WEX stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $196.22, for a total transaction of $196,220.00. Following the completion of the sale, the chief operating officer now owns 8,070 shares of the company’s stock, valued at approximately $1,583,495.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,357 shares of company stock worth $1,181,161. Insiders own 1.10% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on WEX shares. StockNews.com downgraded shares of WEX from a “buy” rating to a “hold” rating in a report on Saturday. Credit Suisse Group raised their target price on shares of WEX from $195.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Bank of America lifted their price target on shares of WEX from $219.00 to $226.00 in a research report on Friday, July 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of WEX in a research report on Friday, July 7th. They set a “hold” rating and a $190.00 price target on the stock. Finally, Jefferies Financial Group lifted their price target on shares of WEX from $180.00 to $195.00 in a research report on Tuesday, July 18th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, WEX has an average rating of “Moderate Buy” and an average target price of $220.15.
Read Our Latest Stock Analysis on WEX
WEX Profile
WEX Inc operates a commerce platform in the United States and internationally. The Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account 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 tools to fleets to manage expenses and capital requirements.
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