KLP Kapitalforvaltning AS Acquires 400 Shares of WEX Inc. $WEX

KLP Kapitalforvaltning AS lifted its holdings in WEX Inc. (NYSE:WEX) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,800 shares of the business services provider’s stock after purchasing an additional 400 shares during the period. KLP Kapitalforvaltning AS’s holdings in WEX were worth $999,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in WEX. Farther Finance Advisors LLC increased its stake in shares of WEX by 161.5% in the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider’s stock worth $44,000 after purchasing an additional 168 shares during the period. GAMMA Investing LLC grew its stake in shares of WEX by 78.1% in the 1st quarter. GAMMA Investing LLC now owns 440 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 193 shares during the period. SG Americas Securities LLC bought a new stake in shares of WEX in the 1st quarter valued at approximately $279,000. Johnson Investment Counsel Inc. grew its stake in shares of WEX by 145.1% in the 1st quarter. Johnson Investment Counsel Inc. now owns 13,461 shares of the business services provider’s stock valued at $2,114,000 after purchasing an additional 7,968 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of WEX by 69.8% in the 1st quarter. Blue Trust Inc. now owns 2,420 shares of the business services provider’s stock valued at $380,000 after purchasing an additional 995 shares during the period. 97.47% of the stock is currently owned by institutional investors.

Insider Activity at WEX

In other WEX news, insider Ann Elena Drew sold 1,931 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $171.69, for a total transaction of $331,533.39. Following the transaction, the insider owned 7,295 shares of the company’s stock, valued at approximately $1,252,478.55. This represents a 20.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Carlos Carriedo sold 875 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $171.68, for a total value of $150,220.00. Following the transaction, the chief operating officer directly owned 5,270 shares in the company, valued at approximately $904,753.60. This represents a 14.24% decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

WEX Stock Down 1.6%

Shares of WEX opened at $149.78 on Thursday. The company has a market capitalization of $5.13 billion, a P/E ratio of 18.94, a PEG ratio of 1.42 and a beta of 1.26. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.04 and a quick ratio of 1.04. WEX Inc. has a one year low of $110.45 and a one year high of $217.47. The business’s 50 day simple moving average is $166.15 and its 200-day simple moving average is $150.06.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WEX. UBS Group upped their price objective on WEX from $138.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft began coverage on WEX in a research note on Thursday, July 17th. They issued a “hold” rating and a $150.00 price objective on the stock. William Blair reiterated a “market perform” rating on shares of WEX in a research note on Friday, July 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of WEX in a research note on Wednesday, October 8th. Finally, Robert W. Baird upped their price objective on WEX from $198.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $173.50.

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.