Chartwell Investment Partners LLC grew its position in shares of WEX Inc (NYSE:WEX) by 27.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,469 shares of the business services provider’s stock after purchasing an additional 1,611 shares during the quarter. Chartwell Investment Partners LLC’s holdings in WEX were worth $1,055,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in WEX. HighTower Advisors LLC acquired a new position in shares of WEX in the second quarter worth approximately $289,000. Mutual of America Capital Management LLC lifted its stake in shares of WEX by 1.5% in the third quarter. Mutual of America Capital Management LLC now owns 32,432 shares of the business services provider’s stock worth $3,640,000 after acquiring an additional 472 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of WEX by 13.3% in the third quarter. JPMorgan Chase & Co. now owns 3,993,322 shares of the business services provider’s stock worth $452,522,000 after acquiring an additional 468,452 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of WEX by 7.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 206,735 shares of the business services provider’s stock worth $23,200,000 after acquiring an additional 15,109 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of WEX by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 56,917 shares of the business services provider’s stock worth $5,935,000 after acquiring an additional 1,211 shares during the period.
In other WEX news, insider Scott Robert Phillips sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $127.68, for a total value of $2,553,600.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.00% of the stock is currently owned by insiders.
A number of equities analysts recently commented on WEX shares. Oppenheimer lifted their price objective on WEX from $130.00 to $176.00 in a research note on Monday, February 5th. TheStreet raised WEX from a “c+” rating to a “b” rating in a research note on Wednesday, November 1st. Citigroup lifted their price objective on WEX from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Barclays lifted their price objective on WEX from $124.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $167.00 price objective (up from $141.00) on shares of WEX in a research note on Wednesday, January 17th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $142.38.
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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.
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