Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $177.08 Million Position in WEX Inc. (NYSE:WEX)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of WEX Inc. (NYSE:WEX) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 866,363 shares of the business services provider’s stock after purchasing an additional 22,865 shares during the quarter. WEX accounts for about 1.8% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 18th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in WEX were worth $177,076,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of WEX by 19,044.7% during the fourth quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock worth $7,002,000 after purchasing an additional 35,804 shares during the period. Schonfeld Strategic Advisors LLC raised its position in shares of WEX by 56.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 141,287 shares of the business services provider’s stock worth $26,575,000 after purchasing an additional 50,771 shares during the period. Burney Co. raised its position in shares of WEX by 131.1% during the third quarter. Burney Co. now owns 21,120 shares of the business services provider’s stock worth $3,972,000 after purchasing an additional 11,983 shares during the period. Deutsche Bank AG raised its position in WEX by 65.5% in the 3rd quarter. Deutsche Bank AG now owns 54,523 shares of the business services provider’s stock valued at $10,255,000 after buying an additional 21,578 shares during the last quarter. Finally, Comerica Bank acquired a new stake in WEX in the 3rd quarter valued at approximately $6,545,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Performance

Shares of WEX stock traded down $0.01 during trading on Monday, reaching $230.47. 315,658 shares of the company’s stock were exchanged, compared to its average volume of 297,376. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $9.62 billion, a PE ratio of 37.41, a PEG ratio of 1.49 and a beta of 1.59. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $244.04. The firm’s fifty day moving average price is $230.06 and its 200-day moving average price is $202.94.

WEX (NYSE:WEX) last posted its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share 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 analyst estimates of $656.75 million. WEX had a return on equity of 31.33% and a net margin of 10.46%. As a group, sell-side analysts anticipate that WEX Inc. will post 13.55 EPS for the current year.

Insider Buying and Selling

In related news, CFO Jagtar Narula sold 309 shares of the business’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 transaction of $72,071.16. Following the transaction, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other WEX news, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $1,289,350.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Melissa D. Smith sold 13,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $222.33, for a total value of $2,890,290.00. Following the completion of the transaction, the chief executive officer now directly owns 81,998 shares in the company, valued at $18,230,615.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,326 shares of company stock valued at $6,281,961. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on WEX shares. TheStreet raised WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Barclays lifted their target price on WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Truist Financial lifted their target price on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, February 9th. William Blair reissued an “outperform” rating on shares of WEX in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised their price target on WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $240.00.

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.