UBS Asset Management Americas Inc. Buys 802 Shares of WEX Inc (WEX)
UBS Asset Management Americas Inc. increased its stake in WEX Inc (NYSE:WEX) by 2.8% in the fourth quarter, Holdings Channel reports. The fund owned 29,178 shares of the business services provider’s stock after purchasing an additional 802 shares during the period. UBS Asset Management Americas Inc.’s holdings in WEX were worth $4,121,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Mercantile Trust Co. bought a new position in WEX during the 4th quarter valued at approximately $191,000. Jane Street Group LLC raised its position in WEX by 104.3% during the 3rd quarter. Jane Street Group LLC now owns 1,786 shares of the business services provider’s stock valued at $200,000 after purchasing an additional 43,763 shares during the last quarter. Advisory Services Network LLC raised its position in WEX by 4,540.6% during the 4th quarter. Advisory Services Network LLC now owns 1,485 shares of the business services provider’s stock valued at $210,000 after purchasing an additional 1,453 shares during the last quarter. CIBC Asset Management Inc bought a new position in WEX during the 4th quarter valued at approximately $211,000. Finally, Private Advisor Group LLC bought a new position in WEX during the 4th quarter valued at approximately $212,000.
WEX Inc (NYSE:WEX) opened at $157.78 on Wednesday. WEX Inc has a 52-week low of $97.26 and a 52-week high of $161.06. The stock has a market capitalization of $6,874.79, a P/E ratio of 42.41, a PEG ratio of 1.61 and a beta of 1.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.71 and a quick ratio of 0.71.
WEX has been the subject of a number of recent analyst reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $176.00 price target (up previously from $167.00) on shares of WEX in a research report on Thursday, February 22nd. Zacks Investment Research lowered WEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Wells Fargo & Co set a $160.00 target price on WEX and gave the stock a “hold” rating in a research report on Thursday, February 22nd. SunTrust Banks set a $175.00 target price on WEX and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Mizuho reissued a “buy” rating and issued a $180.00 target price on shares of WEX in a research report on Thursday, January 4th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. WEX currently has a consensus rating of “Buy” and a consensus target price of $149.36.
In related news, insider Nicola S. Morris sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $149.47, for a total value of $403,569.00. Following the sale, the insider now owns 6,387 shares in the company, valued at approximately $954,664.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.00% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This article was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://www.thecerbatgem.com/2018/03/14/ubs-asset-management-americas-inc-buys-802-shares-of-wex-inc-wex.html.
WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
Want to see what other hedge funds are holding WEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEX Inc (NYSE:WEX).
Receive News & Ratings for WEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEX and related companies with MarketBeat.com's FREE daily email newsletter.