WEX Inc. (NYSE:WEX) Shares Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd raised its position in WEX Inc. (NYSE:WEX) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,770 shares of the business services provider’s stock after purchasing an additional 678 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned about 0.09% of WEX worth $7,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Venturi Wealth Management LLC increased its stake in shares of WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 101 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of WEX by 21.6% during the third quarter. Crossmark Global Holdings Inc. now owns 3,218 shares of the business services provider’s stock valued at $675,000 after acquiring an additional 572 shares during the period. Covestor Ltd increased its stake in shares of WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 89 shares during the period. Atria Investments Inc increased its stake in shares of WEX by 289.0% during the third quarter. Atria Investments Inc now owns 6,528 shares of the business services provider’s stock valued at $1,369,000 after acquiring an additional 4,850 shares during the period. Finally, Verdence Capital Advisors LLC grew its position in WEX by 76.1% in the third quarter. Verdence Capital Advisors LLC now owns 20,197 shares of the business services provider’s stock worth $4,236,000 after buying an additional 8,731 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analysts Set New Price Targets

WEX has been the topic of several research reports. Robert W. Baird dropped their price target on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. William Blair raised WEX to a “strong-buy” rating in a report on Friday, July 26th. Jefferies Financial Group upped their price target on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $235.91.

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the transaction, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Robert Joseph Deshaies sold 1,651 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the transaction, the chief operating officer now owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

WEX Trading Down 0.6 %

WEX stock opened at $182.99 on Tuesday. The company’s fifty day simple moving average is $197.92 and its 200-day simple moving average is $189.80. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. WEX Inc. has a 12 month low of $165.51 and a 12 month high of $244.04. The stock has a market cap of $7.28 billion, a P/E ratio of 23.22, a P/E/G ratio of 1.45 and a beta of 1.57.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.82 by $0.53. The firm had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. WEX’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.44 earnings per share. As a group, sell-side analysts forecast that WEX Inc. will post 13.2 EPS for the current fiscal year.

About WEX

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.