Zions Bancorporation N.A. Purchases 2,662 Shares of WEX Inc. (NYSE:WEX)

Zions Bancorporation N.A. lifted its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 21.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,995 shares of the business services provider's stock after purchasing an additional 2,662 shares during the period. Zions Bancorporation N.A.'s holdings in WEX were worth $2,629,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in WEX during the 3rd quarter worth $35,000. Jones Financial Companies Lllp boosted its holdings in WEX by 108.4% in the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock valued at $43,000 after acquiring an additional 129 shares during the last quarter. UMB Bank n.a. increased its position in WEX by 552.5% in the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock worth $46,000 after purchasing an additional 221 shares during the period. Smartleaf Asset Management LLC raised its holdings in WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock worth $56,000 after purchasing an additional 66 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in WEX during the 3rd quarter valued at about $59,000. 97.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WEX shares. Mizuho dropped their price target on shares of WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Bank of America cut shares of WEX from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. UBS Group reduced their price target on WEX from $200.00 to $172.00 and set a "neutral" rating on the stock in a research report on Friday, February 7th. Barclays cut their target price on WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Monday, February 10th. Finally, Jefferies Financial Group boosted their target price on WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a research report on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $187.80.

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WEX Stock Down 0.4 %

WEX traded down $0.63 during trading on Friday, reaching $154.69. The company had a trading volume of 1,311,342 shares, compared to its average volume of 493,003. The business's fifty day moving average price is $162.27 and its 200 day moving average price is $179.22. 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 Inc. has a 12 month low of $146.03 and a 12 month high of $244.04. The company has a market cap of $6.00 billion, a P/E ratio of 20.62, a PEG ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX - Get Free Report) last announced its earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Equities analysts anticipate that WEX Inc. will post 14.09 EPS for the current year.

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.