WEX Inc. (NYSE:WEX) Stock Holdings Increased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in WEX Inc. (NYSE:WEX) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,283 shares of the business services provider’s stock after buying an additional 65 shares during the quarter. CIBC Asset Management Inc’s holdings in WEX were worth $225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WEX. Commerce Bank boosted its position in shares of WEX by 1.7% during the third quarter. Commerce Bank now owns 3,624 shares of the business services provider’s stock worth $760,000 after buying an additional 60 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of WEX by 0.6% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock worth $1,959,000 after buying an additional 70 shares during the period. Covestor Ltd boosted its position in shares of WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after buying an additional 89 shares during the period. Venturi Wealth Management LLC boosted its position in shares of WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after buying an additional 101 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of WEX by 2.9% during the third quarter. State of Alaska Department of Revenue now owns 4,771 shares of the business services provider’s stock worth $1,000,000 after buying an additional 135 shares during the period. 97.47% of the stock is owned by institutional investors.

WEX Trading Up 6.5 %

WEX stock opened at $157.98 on Wednesday. The company’s fifty day simple moving average is $171.16 and its 200-day simple moving average is $183.93. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. WEX Inc. has a 12 month low of $146.03 and a 12 month high of $244.04. The stock has a market cap of $6.29 billion, a P/E ratio of 21.06, a P/E/G ratio of 2.06 and a beta of 1.58.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. As a group, sell-side analysts forecast that WEX Inc. will post 14.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Robert Joseph Deshaies sold 175 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the completion of the sale, the chief operating officer now directly owns 7,582 shares in the company, valued at approximately $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Mizuho dropped their target price on WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Barclays dropped their target price on WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Bank of America cut WEX from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Wells Fargo & Company dropped their target price on WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Finally, Citigroup cut WEX from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $199.73.

About WEX

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.