Universal Beteiligungs und Servicegesellschaft mbH Raises Stock Position in WEX Inc. $WEX

Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of WEX Inc. (NYSE:WEX) by 72.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,789 shares of the business services provider’s stock after buying an additional 4,535 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in WEX were worth $1,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in WEX by 158.3% during the first quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider’s stock valued at $55,097,000 after acquiring an additional 215,036 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of WEX during the 1st quarter valued at about $394,000. Truist Financial Corp increased its position in shares of WEX by 8.7% during the 2nd quarter. Truist Financial Corp now owns 2,725 shares of the business services provider’s stock valued at $400,000 after purchasing an additional 219 shares during the last quarter. B.O.S.S. Retirement Advisors LLC bought a new position in shares of WEX in the 2nd quarter worth approximately $314,000. Finally, Hilltop National Bank bought a new position in shares of WEX in the 2nd quarter worth approximately $95,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Trading Down 2.5%

Shares of WEX stock opened at $153.65 on Friday. The company has a debt-to-equity ratio of 3.33, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a fifty day simple moving average of $153.43 and a two-hundred day simple moving average of $158.25. The firm has a market capitalization of $5.27 billion, a PE ratio of 19.98, a PEG ratio of 1.17 and a beta of 0.99. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $187.44.

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, October 29th. The business services provider reported $4.59 earnings per share for the quarter, topping analysts’ consensus estimates of $4.45 by $0.14. The firm had revenue of $691.80 million during the quarter, compared to analyst estimates of $678.25 million. WEX had a return on equity of 45.10% and a net margin of 10.81%.The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.35 earnings per share. On average, analysts predict that WEX Inc. will post 14.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on WEX shares. Cantor Fitzgerald raised shares of WEX to a “hold” rating in a report on Tuesday. UBS Group dropped their price target on shares of WEX from $185.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Wall Street Zen upgraded WEX from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of WEX in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. cut their price target on WEX from $195.00 to $175.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Four equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $170.25.

Insider Buying and Selling at WEX

In other WEX news, CAO Jennifer Kimball sold 494 shares of WEX stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $151.40, for a total value of $74,791.60. Following the sale, the chief accounting officer directly owned 3,671 shares in the company, valued at approximately $555,789.40. The trade was a 11.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Robert Joseph Deshaies sold 1,506 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $149.62, for a total transaction of $225,327.72. Following the transaction, the chief operating officer directly owned 15,699 shares of the company’s stock, valued at $2,348,884.38. This trade represents a 8.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.40% of the company’s stock.

About WEX

WEX Inc is a global financial technology company specializing in business payment solutions for fleet, travel, and corporate payments. The company delivers software-driven platforms and card-based services that help businesses automate payment processes, manage expenses and improve operational efficiency across a range of industries, including transportation, healthcare and government.

Founded in 1983 as Wright Express in Portland, Maine, the company began by offering fuel card services to trucking fleets.