Daiwa Securities Group Inc. lowered its position in WEX Inc (NYSE:WEX) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,885 shares of the business services provider’s stock after selling 2,780 shares during the period. Daiwa Securities Group Inc.’s holdings in WEX were worth $4,606,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently made changes to their positions in the business. First Bank & Trust lifted its holdings in WEX by 3.2% in the fourth quarter. First Bank & Trust now owns 2,053 shares of the business services provider’s stock valued at $288,000 after acquiring an additional 64 shares during the period. Cerebellum GP LLC lifted its holdings in WEX by 12.4% in the fourth quarter. Cerebellum GP LLC now owns 1,061 shares of the business services provider’s stock valued at $149,000 after acquiring an additional 117 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in WEX by 4.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,848 shares of the business services provider’s stock valued at $399,000 after acquiring an additional 134 shares during the period. Retirement Systems of Alabama lifted its holdings in WEX by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 55,859 shares of the business services provider’s stock valued at $7,824,000 after acquiring an additional 197 shares during the period. Finally, Chicago Equity Partners LLC lifted its holdings in WEX by 1.2% in the fourth quarter. Chicago Equity Partners LLC now owns 18,165 shares of the business services provider’s stock valued at $2,544,000 after acquiring an additional 215 shares during the period. 97.16% of the stock is owned by institutional investors.
Shares of WEX stock opened at $167.03 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market cap of $7.18 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 1.36 and a beta of 1.55. WEX Inc has a 1-year low of $131.35 and a 1-year high of $203.49.
A number of research analysts have issued reports on the company. Wells Fargo & Co raised WEX from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $190.00 to $200.00 in a report on Thursday, November 1st. Jefferies Financial Group assumed coverage on WEX in a report on Monday, January 28th. They issued a “hold” rating and a $170.00 price target for the company. William Blair reissued an “outperform” rating on shares of WEX in a report on Wednesday, January 30th. ValuEngine raised WEX from a “hold” rating to a “buy” rating in a report on Friday. Finally, Zacks Investment Research raised WEX from a “sell” rating to a “hold” rating in a report on Saturday, January 12th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $193.67.
In other news, insider David G. Cooper sold 607 shares of the company’s stock in a transaction that occurred on Monday, December 17th. The stock was sold at an average price of $145.15, for a total transaction of $88,106.05. Following the completion of the transaction, the insider now directly owns 1,065 shares of the company’s stock, valued at approximately $154,584.75. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.57% of the company’s stock.
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WEX Company Profile
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. 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 and processing services.
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