UBS Oconnor LLC bought a new position in shares of WEX Inc (NYSE:WEX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 130,000 shares of the business services provider’s stock, valued at approximately $18,208,000. WEX comprises approximately 1.1% of UBS Oconnor LLC’s investment portfolio, making the stock its 25th biggest position. UBS Oconnor LLC owned approximately 0.30% of WEX at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in WEX. Prudential Financial Inc. lifted its position in WEX by 7.6% in the 3rd quarter. Prudential Financial Inc. now owns 27,599 shares of the business services provider’s stock valued at $5,541,000 after acquiring an additional 1,950 shares in the last quarter. Rhumbline Advisers lifted its position in WEX by 1.9% in the 3rd quarter. Rhumbline Advisers now owns 95,945 shares of the business services provider’s stock valued at $19,262,000 after acquiring an additional 1,753 shares in the last quarter. Hartford Investment Management Co. lifted its position in WEX by 63.8% in the 3rd quarter. Hartford Investment Management Co. now owns 1,843 shares of the business services provider’s stock valued at $370,000 after acquiring an additional 718 shares in the last quarter. Bank of New York Mellon Corp lifted its position in WEX by 5.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 446,851 shares of the business services provider’s stock valued at $89,710,000 after acquiring an additional 23,169 shares in the last quarter. Finally, BlackRock Inc. lifted its position in WEX by 6.8% in the 3rd quarter. BlackRock Inc. now owns 3,720,426 shares of the business services provider’s stock valued at $746,912,000 after acquiring an additional 236,285 shares in the last quarter. 98.52% of the stock is currently owned by institutional investors.
NYSE:WEX traded down $4.50 on Friday, hitting $186.54. The stock had a trading volume of 95,132 shares, compared to its average volume of 391,016. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.50 and a current ratio of 1.47. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 1.49 and a beta of 1.51. WEX Inc has a 1 year low of $131.35 and a 1 year high of $203.49.
In other WEX news, insider Nicola S. Morris sold 992 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $184.05, for a total value of $182,577.60. Following the completion of the sale, the insider now owns 11,848 shares in the company, valued at approximately $2,180,624.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.57% of the company’s stock.
WEX has been the topic of several recent research reports. BTIG Research initiated coverage on shares of WEX in a research report on Thursday, January 17th. They issued a “buy” rating and a $198.00 price target on the stock. Zacks Investment Research raised shares of WEX from a “sell” rating to a “hold” rating in a research report on Saturday, January 12th. ValuEngine upgraded shares of WEX from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Wolfe Research upgraded shares of WEX from a “market perform” rating to an “outperform” rating in a research note on Friday, January 4th. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $180.00 price objective (down previously from $200.00) on shares of WEX in a research note on Wednesday, January 16th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $197.27.
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WEX Company Profile
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.
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