UBS Asset Management Americas Inc. increased its stake in WEX Inc (NYSE:WEX) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,178 shares of the business services provider’s stock after purchasing an additional 802 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.07% of WEX worth $4,121,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in WEX. First Mercantile Trust Co. purchased a new position in WEX during the fourth quarter worth about $191,000. Private Advisor Group LLC purchased a new position in WEX during the fourth quarter worth about $212,000. Advisory Services Network LLC grew its position in WEX by 4,540.6% during the fourth quarter. Advisory Services Network LLC now owns 1,485 shares of the business services provider’s stock worth $210,000 after buying an additional 1,453 shares in the last quarter. CIBC Asset Management Inc purchased a new position in WEX during the fourth quarter worth about $211,000. Finally, Cigna Investments Inc. New purchased a new position in WEX during the fourth quarter worth about $219,000.
In other news, insider Nicola S. Morris sold 2,700 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $149.47, for a total value of $403,569.00. Following the completion of the transaction, the insider now directly owns 6,387 shares in the company, valued at approximately $954,664.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.00% of the stock is currently owned by corporate insiders.
WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, February 21st. The business services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.16. WEX had a return on equity of 13.01% and a net margin of 12.82%. The firm had revenue of $331.30 million during the quarter, compared to analysts’ expectations of $327.19 million. During the same period in the prior year, the business earned $1.28 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. research analysts anticipate that WEX Inc will post 6.93 earnings per share for the current fiscal year.
Several research firms recently commented on WEX. SunTrust Banks set a $160.00 target price on WEX and gave the stock a “buy” rating in a research report on Friday, February 16th. Mizuho restated a “buy” rating and set a $180.00 target price on shares of WEX in a research report on Thursday, January 4th. Morgan Stanley restated an “equal weight” rating and set a $159.00 target price (up from $149.00) on shares of WEX in a research report on Thursday, February 22nd. Credit Suisse Group restated an “outperform” rating and set a $176.00 target price (up from $167.00) on shares of WEX in a research report on Thursday, February 22nd. Finally, Wells Fargo & Co set a $160.00 target price on WEX and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $149.36.
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WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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