OVERSEA CHINESE BANKING Corp Ltd Acquires 678 Shares of WEX Inc. (NYSE:WEX)

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in WEX Inc. (NYSE:WEX) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,770 shares of the business services provider’s stock after acquiring an additional 678 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in WEX were worth $7,292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WEX. Venturi Wealth Management LLC grew its stake in WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after buying an additional 101 shares during the last quarter. International Assets Investment Management LLC bought a new stake in WEX during the second quarter worth about $33,000. Quarry LP grew its stake in WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after buying an additional 165 shares during the last quarter. Blue Trust Inc. grew its stake in WEX by 456.1% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after buying an additional 187 shares during the last quarter. Finally, Covestor Ltd grew its stake in WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after buying an additional 131 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

Insider Activity at WEX

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

Analysts Set New Price Targets

Several analysts have recently commented on WEX shares. William Blair raised shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. Wolfe Research cut shares of WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Jefferies Financial Group increased their price target on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Bank of America increased their price target on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Robert W. Baird cut their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, WEX has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

WEX Trading Down 0.6 %

WEX opened at $182.99 on Tuesday. The firm’s fifty day moving average is $197.92 and its two-hundred day moving average is $189.80. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $7.28 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 1.45 and a beta of 1.57. WEX Inc. has a twelve month low of $165.51 and a twelve month high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, topping 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 company 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 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that WEX Inc. will post 13.2 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.