KLP Kapitalforvaltning AS Acquires Shares of 8,500 WEX Inc. (NYSE:WEX)

KLP Kapitalforvaltning AS purchased a new stake in WEX Inc. (NYSE:WEX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,500 shares of the business services provider's stock, valued at approximately $1,490,000.

A number of other large investors have also recently modified their holdings of WEX. Janus Henderson Group PLC raised its stake in WEX by 0.6% in the third quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider's stock valued at $873,251,000 after purchasing an additional 25,365 shares in the last quarter. FMR LLC increased its holdings in shares of WEX by 8.8% in the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider's stock worth $326,237,000 after buying an additional 125,262 shares during the last quarter. State Street Corp raised its position in shares of WEX by 0.3% during the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider's stock valued at $260,265,000 after buying an additional 3,882 shares in the last quarter. River Road Asset Management LLC lifted its holdings in shares of WEX by 0.7% during the 4th quarter. River Road Asset Management LLC now owns 725,842 shares of the business services provider's stock worth $127,255,000 after acquiring an additional 5,377 shares during the last quarter. Finally, Sei Investments Co. grew its position in WEX by 5.2% in the fourth quarter. Sei Investments Co. now owns 481,490 shares of the business services provider's stock worth $84,415,000 after acquiring an additional 23,859 shares in the last quarter. Institutional investors own 97.47% of the company's stock.

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WEX Trading Up 0.7 %

NYSE:WEX traded up $1.07 during midday trading on Wednesday, reaching $161.99. 1,032,757 shares of the stock traded hands, compared to its average volume of 503,617. The stock has a market capitalization of $6.29 billion, a P/E ratio of 21.60, a PEG ratio of 2.06 and a beta of 1.61. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The company has a fifty day moving average of $160.86 and a 200 day moving average of $178.50. WEX Inc. has a 12 month low of $146.03 and a 12 month high of $244.04.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. On average, research analysts predict that WEX Inc. will post 14.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup downgraded WEX from a "buy" rating to a "neutral" rating and lowered their price target for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Wells Fargo & Company decreased their price objective on WEX from $180.00 to $160.00 and set an "equal weight" rating on the stock in a report on Friday, February 7th. Mizuho cut their target price on WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Robert W. Baird set a $186.00 price target on shares of WEX in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group boosted their price objective on shares of WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a report on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, WEX has a consensus rating of "Hold" and a consensus price target of $187.80.

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.