New York Life Investment Management LLC Buys 355 Shares of WEX Inc. (NYSE:WEX)

New York Life Investment Management LLC raised its stake in WEX Inc. (NYSE:WEX) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,898 shares of the business services provider’s stock after acquiring an additional 355 shares during the quarter. New York Life Investment Management LLC’s holdings in WEX were worth $953,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new stake in WEX during the 4th quarter worth approximately $27,000. VisionPoint Advisory Group LLC increased its position in WEX by 74.7% during the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after acquiring an additional 62 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in WEX by 896.8% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the business services provider’s stock worth $58,000 after purchasing an additional 278 shares in the last quarter. CWM LLC boosted its holdings in WEX by 15.6% in the 4th quarter. CWM LLC now owns 377 shares of the business services provider’s stock valued at $73,000 after purchasing an additional 51 shares during the period. Finally, Signaturefd LLC grew its position in shares of WEX by 131.4% during the 3rd quarter. Signaturefd LLC now owns 516 shares of the business services provider’s stock worth $97,000 after purchasing an additional 293 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of WEX from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. StockNews.com cut WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Jefferies Financial Group upped their price objective on shares of WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. raised their target price on shares of WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Truist Financial boosted their price objective on shares of WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $240.00.

WEX Trading Up 1.1 %

NYSE WEX opened at $211.66 on Wednesday. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 34.42, a price-to-earnings-growth ratio of 1.21 and a beta of 1.60. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $244.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.73. The business’s fifty day moving average is $229.31 and its 200 day moving average is $205.01.

WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The firm had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. As a group, sell-side analysts expect that WEX Inc. will post 13.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Jennifer Kimball sold 1,200 shares of WEX stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $211.55, for a total transaction of $253,860.00. Following the transaction, the chief accounting officer now owns 1,909 shares in the company, valued at $403,848.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Jennifer Kimball sold 1,200 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total value of $253,860.00. Following the completion of the sale, the chief accounting officer now directly owns 1,909 shares in the company, valued at $403,848.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sara Trickett sold 887 shares of WEX stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The disclosure for this sale can be found here. Insiders have sold 32,157 shares of company stock valued at $7,090,562 in the last ninety days. 1.10% of the stock is currently owned by insiders.

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.