WEX Inc. (NYSE:WEX) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in WEX Inc. (NYSE:WEX) by 124.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,870 shares of the business services provider’s stock after buying an additional 22,638 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.10% of WEX worth $8,572,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of WEX by 34.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock valued at $87,772,000 after purchasing an additional 126,663 shares during the last quarter. Distillate Capital Partners LLC acquired a new stake in WEX during the 2nd quarter worth about $13,950,000. Vident Advisory LLC grew its stake in WEX by 1,610.6% during the 1st quarter. Vident Advisory LLC now owns 58,264 shares of the business services provider’s stock valued at $13,839,000 after purchasing an additional 54,858 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of WEX by 5.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock valued at $173,561,000 after purchasing an additional 48,182 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of WEX in the second quarter worth about $7,139,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Jefferies Financial Group upped their price objective on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Robert W. Baird reduced their target price on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday. Bank of America upped their price target on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company decreased their price objective on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $232.92.

WEX Trading Down 1.3 %

NYSE WEX opened at $178.85 on Friday. WEX Inc. has a 12 month low of $161.95 and a 12 month high of $244.04. The stock has a market capitalization of $7.35 billion, a P/E ratio of 30.94, a PEG ratio of 1.19 and a beta of 1.55. The firm’s 50-day moving average is $199.68 and its two-hundred day moving average is $194.28. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.09. WEX had a net margin of 9.32% and a return on equity of 31.05%. The firm had revenue of $673.50 million during the quarter, compared to analysts’ expectations of $677.44 million. On average, sell-side analysts anticipate that WEX Inc. will post 13.68 earnings per share for the current year.

Insider Transactions at WEX

In related news, CFO Jagtar Narula sold 508 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Melanie J. Tinto sold 1,564 shares of WEX stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total value of $289,402.56. Following the completion of the transaction, the insider now owns 8,461 shares in the company, valued at approximately $1,565,623.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jagtar Narula sold 508 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,905 shares of company stock worth $895,107 over the last ninety days. Company insiders own 1.10% of the company’s stock.

WEX Company 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.