Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in WEX Inc. (NYSE:WEX)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in WEX Inc. (NYSE:WEX - Free Report) by 18.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 10,784 shares of the business services provider's stock after buying an additional 1,683 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in WEX were worth $1,891,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WEX. Commerce Bank grew its stake in shares of WEX by 1.7% during the 3rd quarter. Commerce Bank now owns 3,624 shares of the business services provider's stock valued at $760,000 after purchasing an additional 60 shares during the period. CIBC Asset Management Inc grew its stake in shares of WEX by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider's stock valued at $225,000 after purchasing an additional 65 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock valued at $56,000 after purchasing an additional 66 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of WEX by 0.6% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider's stock valued at $1,959,000 after purchasing an additional 70 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock valued at $43,000 after purchasing an additional 129 shares during the period. 97.47% of the stock is currently owned by institutional investors.

Remove Ads

WEX Stock Up 0.5 %

Shares of NYSE WEX traded up $0.77 during mid-day trading on Friday, reaching $157.11. 2,776,192 shares of the company were exchanged, compared to its average volume of 434,709. WEX Inc. has a 1 year low of $146.03 and a 1 year high of $244.04. The firm has a 50-day moving average of $165.06 and a 200 day moving average of $180.73. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 2.06 and a beta of 1.61. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WEX. Mizuho cut their price objective on 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 downgraded WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Robert W. Baird set a $186.00 price objective on WEX in a research note on Tuesday, February 18th. William Blair reiterated a "market perform" rating on shares of WEX in a research note on Thursday, February 6th. Finally, Citigroup downgraded WEX from a "buy" rating to a "neutral" rating and cut their price objective for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, WEX presently has an average rating of "Hold" and an average target price of $195.73.

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.