Norges Bank bought a new stake in WEX Inc. (NYSE:WEX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 459,361 shares of the business services provider's stock, valued at approximately $80,535,000. Norges Bank owned 1.15% of WEX at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in shares of WEX by 1,635.8% during the fourth quarter. Fifth Third Bancorp now owns 8,783 shares of the business services provider's stock worth $1,540,000 after acquiring an additional 8,277 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of WEX by 25.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock worth $56,000 after buying an additional 66 shares during the period. Jones Financial Companies Lllp boosted its position in shares of WEX by 108.4% during the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock worth $43,000 after buying an additional 129 shares during the period. KBC Group NV raised its position in WEX by 53.7% in the 4th quarter. KBC Group NV now owns 1,825 shares of the business services provider's stock valued at $320,000 after buying an additional 638 shares during the last quarter. Finally, Choreo LLC lifted its stake in WEX by 33.7% in the 4th quarter. Choreo LLC now owns 2,373 shares of the business services provider's stock valued at $405,000 after acquiring an additional 598 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
WEX has been the topic of a number of recent research reports. Bank of America downgraded shares of WEX from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. Mizuho cut their price target on shares of WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Jefferies Financial Group raised their price objective on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a report on Wednesday, January 22nd. Wells Fargo & Company dropped their target price on WEX from $180.00 to $160.00 and set an "equal weight" rating on the stock in a report on Friday, February 7th. Finally, Robert W. Baird set a $186.00 price target on WEX in a research note on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $187.80.
Check Out Our Latest Research Report on WEX
WEX Stock Performance
WEX stock traded down $6.48 during midday trading on Monday, reaching $120.45. 1,695,667 shares of the company were exchanged, compared to its average volume of 524,069. WEX Inc. has a one year low of $117.00 and a one year high of $241.84. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. The business has a 50-day moving average price of $157.70 and a two-hundred day moving average price of $176.79. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04.
WEX (NYSE:WEX - Get Free Report) last announced its earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping 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%. Equities research analysts forecast that WEX Inc. will post 14.09 EPS for the current year.
About WEX
(
Free Report)
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.
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