Federated Hermes Inc. Has $72.37 Million Holdings in WEX Inc. (NYSE:WEX)

Federated Hermes Inc. boosted its stake in WEX Inc. (NYSE:WEX) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 372,006 shares of the business services provider’s stock after purchasing an additional 28,782 shares during the quarter. Federated Hermes Inc.’s holdings in WEX were worth $72,374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in WEX by 3.2% during the first quarter. Vanguard Group Inc. now owns 4,196,239 shares of the business services provider’s stock worth $748,819,000 after acquiring an additional 131,664 shares in the last quarter. BlackRock Inc. raised its stake in WEX by 1.2% during the first quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock worth $732,950,000 after acquiring an additional 49,480 shares in the last quarter. Wellington Management Group LLP raised its stake in WEX by 4.2% during the first quarter. Wellington Management Group LLP now owns 4,101,566 shares of the business services provider’s stock worth $731,925,000 after acquiring an additional 164,902 shares in the last quarter. Morgan Stanley raised its stake in WEX by 342.4% during the fourth quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock worth $337,102,000 after acquiring an additional 1,594,294 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in WEX by 3.0% during the first quarter. JPMorgan Chase & Co. now owns 1,336,884 shares of the business services provider’s stock worth $245,840,000 after acquiring an additional 39,312 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Performance

Shares of WEX stock opened at $229.84 on Friday. The business’s 50 day simple moving average is $229.30 and its 200 day simple moving average is $202.01. WEX Inc. has a one year low of $161.95 and a one year high of $244.04. The stock has a market capitalization of $9.59 billion, a PE ratio of 37.31, a PEG ratio of 1.49 and a beta of 1.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The business had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. WEX had a return on equity of 31.33% and a net margin of 10.46%. As a group, research analysts forecast that WEX Inc. will post 13.55 earnings per share for the current year.

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 309 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the transaction, the chief financial officer now directly owns 5,528 shares in the company, valued at approximately $1,289,350.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Sara Trickett sold 887 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $224.61, for a total transaction of $199,229.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the transaction, the chief financial officer now directly owns 5,528 shares in the company, valued at $1,289,350.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,433 shares of company stock worth $14,708,896. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

WEX has been the subject of several research analyst reports. StockNews.com downgraded WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. TheStreet upgraded WEX from a “c” rating to a “b” rating in a report on Thursday, February 8th. Evercore ISI boosted their price target on WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Jefferies Financial Group boosted their price target on WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Finally, Robert W. Baird boosted their price target on WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a report on Monday. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $240.00.

WEX 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.