State of Wyoming Grows Stock Position in WEX Inc. $WEX

State of Wyoming increased its position in shares of WEX Inc. (NYSE:WEX) by 2,353.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,925 shares of the business services provider’s stock after purchasing an additional 3,765 shares during the quarter. State of Wyoming’s holdings in WEX were worth $618,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new stake in shares of WEX during the third quarter worth $28,000. Steph & Co. purchased a new stake in WEX during the 3rd quarter valued at about $35,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in WEX during the 2nd quarter valued at about $54,000. EverSource Wealth Advisors LLC raised its holdings in WEX by 4,837.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 395 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 387 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in WEX by 494.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 458 shares of the business services provider’s stock worth $67,000 after purchasing an additional 381 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at WEX

In other news, CAO Jennifer Kimball sold 494 shares of the stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $151.40, for a total value of $74,791.60. Following the sale, the chief accounting officer directly owned 3,671 shares in the company, valued at approximately $555,789.40. This trade represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen Montgomery Smith bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was bought at an average price of $144.25 per share, with a total value of $144,250.00. Following the completion of the acquisition, the director owned 7,971 shares of the company’s stock, valued at $1,149,816.75. This trade represents a 14.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WEX. Weiss Ratings restated a “hold (c)” rating on shares of WEX in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reduced their price target on WEX from $195.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Morgan Stanley assumed coverage on shares of WEX in a research report on Monday. They set an “equal weight” rating and a $144.00 price target on the stock. UBS Group cut their price objective on shares of WEX from $185.00 to $172.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Finally, Cantor Fitzgerald raised shares of WEX to a “hold” rating in a research note on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $168.08.

WEX Trading Down 0.5%

Shares of NYSE WEX opened at $153.10 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 3.33. The stock has a market capitalization of $5.25 billion, a PE ratio of 19.91, a PEG ratio of 1.14 and a beta of 0.98. WEX Inc. has a twelve month low of $110.45 and a twelve month high of $187.44. The stock has a fifty day simple moving average of $153.56 and a 200-day simple moving average of $158.36.

WEX Profile

WEX Inc is a global financial technology company specializing in business payment solutions for fleet, travel, and corporate payments. The company delivers software-driven platforms and card-based services that help businesses automate payment processes, manage expenses and improve operational efficiency across a range of industries, including transportation, healthcare and government.

Founded in 1983 as Wright Express in Portland, Maine, the company began by offering fuel card services to trucking fleets.