Benin Management CORP Has $533,000 Stake in WEX Inc. (NYSE:WEX)

Benin Management CORP lifted its position in shares of WEX Inc. (NYSE:WEXFree Report) by 38.2% during the fourth quarter, HoldingsChannel reports. The firm owned 3,041 shares of the business services provider’s stock after buying an additional 840 shares during the quarter. Benin Management CORP’s holdings in WEX were worth $533,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WEX. Inspire Investing LLC boosted its holdings in shares of WEX by 12.8% in the fourth quarter. Inspire Investing LLC now owns 2,501 shares of the business services provider’s stock valued at $438,000 after buying an additional 283 shares during the period. UMB Bank n.a. lifted its position in shares of 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 in the last quarter. J2 Capital Management Inc acquired a new position in WEX during the fourth quarter worth $296,000. Trust Co. of Vermont grew its position in WEX by 239.9% in the fourth quarter. Trust Co. of Vermont now owns 1,424 shares of the business services provider’s stock valued at $250,000 after purchasing an additional 1,005 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in WEX in the 4th quarter valued at $200,000. 97.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Robert Joseph Deshaies sold 175 shares of WEX stock in a transaction on Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the sale, the chief operating officer now owns 7,582 shares of the company’s stock, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WEX shares. Keefe, Bruyette & Woods reduced their price objective on shares of WEX from $247.00 to $220.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Barclays reissued an “equal weight” rating and set a $200.00 price target (down from $207.00) on shares of WEX in a research report on Tuesday, December 17th. 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 research report on Friday, October 25th. Wells Fargo & Company cut their price objective on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Finally, Jefferies Financial Group boosted their target price on shares of WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $217.73.

Check Out Our Latest Report on WEX

WEX Price Performance

NYSE:WEX opened at $181.33 on Friday. The firm’s fifty day moving average price is $179.00 and its two-hundred day moving average price is $186.21. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $7.21 billion, a P/E ratio of 23.01, a P/E/G ratio of 1.33 and a beta of 1.58. WEX Inc. has a one year low of $165.51 and a one year high of $244.04.

WEX (NYSE:WEXGet Free Report) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.82 by $0.53. The firm had revenue of $665.50 million for the quarter, compared to analysts’ expectations of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.44 EPS. Equities analysts expect that WEX Inc. will post 13.08 earnings per share for the current year.

WEX Profile

(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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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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