Choreo LLC Acquires 598 Shares of WEX Inc. (NYSE:WEX)

Choreo LLC boosted its holdings in WEX Inc. (NYSE:WEX) by 33.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,373 shares of the business services provider’s stock after acquiring an additional 598 shares during the quarter. Choreo LLC’s holdings in WEX were worth $405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WEX. Truist Financial Corp increased its position in shares of WEX by 21.0% in the second quarter. Truist Financial Corp now owns 2,943 shares of the business services provider’s stock worth $521,000 after purchasing an additional 510 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of WEX in the 2nd quarter worth $397,000. GAMMA Investing LLC raised its position in shares of WEX by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock valued at $63,000 after buying an additional 87 shares in the last quarter. Procyon Advisors LLC lifted its holdings in shares of WEX by 3.9% during the 3rd quarter. Procyon Advisors LLC now owns 3,691 shares of the business services provider’s stock worth $774,000 after acquiring an additional 138 shares during the last quarter. Finally, Creative Planning grew its position in WEX by 1.8% in the third quarter. Creative Planning now owns 78,721 shares of the business services provider’s stock worth $16,510,000 after acquiring an additional 1,398 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Performance

WEX stock opened at $151.05 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The firm has a market cap of $6.01 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.24 and a beta of 1.58. WEX Inc. has a 1-year low of $146.03 and a 1-year high of $244.04. The firm has a 50-day moving average of $175.62 and a 200-day moving average of $185.27.

WEX (NYSE:WEX) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. Sell-side analysts expect that WEX Inc. will post 14.27 EPS for the current year.

Wall Street Analysts Forecast Growth

WEX has been the topic of a number of research reports. Jefferies Financial Group raised their price target on WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company decreased their price objective on WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Mizuho cut their target price on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday. Barclays decreased their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Keefe, Bruyette & Woods cut their price objective on shares of WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $199.73.

Insider Buying and Selling at WEX

In other news, COO Robert Joseph Deshaies sold 175 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the completion of the transaction, the chief operating officer now owns 7,582 shares in the company, valued at $1,436,334.08. This trade represents a 2.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.