Quest Partners LLC Invests $696,000 in WEX Inc. (NYSE:WEX)

Quest Partners LLC acquired a new position in WEX Inc. (NYSE:WEX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,577 shares of the business services provider’s stock, valued at approximately $696,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Corient Private Wealth LLC grew its position in WEX by 4.2% during the 4th quarter. Corient Private Wealth LLC now owns 10,158 shares of the business services provider’s stock worth $1,976,000 after purchasing an additional 409 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of WEX in the 4th quarter valued at $3,617,000. Norges Bank purchased a new stake in shares of WEX in the 4th quarter valued at $89,745,000. Great Lakes Advisors LLC purchased a new stake in shares of WEX in the 4th quarter valued at $240,000. Finally, Long Road Investment Counsel LLC boosted its holdings in shares of WEX by 3.7% in the 4th quarter. Long Road Investment Counsel LLC now owns 28,099 shares of the business services provider’s stock valued at $5,743,000 after acquiring an additional 1,010 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on WEX. JPMorgan Chase & Co. boosted their target price on shares of WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Robert W. Baird boosted their target price on shares of WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Jefferies Financial Group upped their price objective on shares of WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Truist Financial upped their price objective on shares of WEX from $185.00 to $220.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, Barclays upped their price objective on shares of WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $240.00.

Insiders Place Their Bets

In other news, SVP Sara Trickett sold 734 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total transaction of $154,455.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Sara Trickett sold 734 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total transaction of $154,455.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jennifer Kimball sold 1,200 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total transaction of $253,860.00. Following the sale, the chief accounting officer now directly owns 1,909 shares in the company, valued at approximately $403,848.95. The disclosure for this sale can be found here. Insiders sold a total of 7,365 shares of company stock valued at $1,594,794 over the last 90 days. 1.10% of the stock is owned by company insiders.

WEX Trading Up 1.2 %

Shares of WEX opened at $194.78 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.73. WEX Inc. has a 12-month low of $161.95 and a 12-month high of $244.04. The firm has a 50-day moving average price of $224.07 and a 200 day moving average price of $207.02. The firm has a market capitalization of $8.16 billion, a P/E ratio of 31.67, a P/E/G ratio of 1.12 and a beta of 1.60.

WEX (NYSE:WEX) last announced its earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.15. The company had revenue of $652.70 million during the quarter, compared to analyst estimates of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. Sell-side analysts forecast that WEX Inc. will post 13.98 EPS for the current year.

About WEX

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.