WEX Inc. (NYSE:WEX) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. grew its position in shares of WEX Inc. (NYSE:WEX) by 18.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,333 shares of the business services provider’s stock after acquiring an additional 1,877 shares during the quarter. Zions Bancorporation N.A.’s holdings in WEX were worth $2,587,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of WEX. Venturi Wealth Management LLC boosted its stake in WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 101 shares during the period. International Assets Investment Management LLC bought a new position in WEX in the 2nd quarter worth approximately $33,000. Covestor Ltd increased its position in WEX by 233.9% in the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 131 shares during the period. Quarry LP raised its stake in WEX by 717.4% during the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 165 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in WEX by 456.1% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after acquiring an additional 187 shares during the period. Institutional investors own 97.47% of the company’s stock.

WEX Trading Down 0.6 %

Shares of WEX opened at $180.19 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. WEX Inc. has a 1-year low of $165.51 and a 1-year high of $244.04. The stock has a market capitalization of $7.17 billion, a P/E ratio of 22.87, a P/E/G ratio of 1.42 and a beta of 1.57. The business’s 50-day moving average price is $197.61 and its 200 day moving average price is $189.49.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. During the same quarter in the prior year, the firm earned $3.44 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts expect that WEX Inc. will post 13.2 earnings per share for the current year.

Insider Activity

In related news, COO Robert Joseph Deshaies sold 1,651 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total value of $299,937.17. Following the completion of the sale, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the transaction, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jagtar Narula sold 508 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the sale, the chief financial officer now owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WEX. Robert W. Baird lowered their price target on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company lowered their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Bank of America boosted their target price on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, WEX currently has an average rating of “Moderate Buy” and an average price target of $235.91.

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.