Louisiana State Employees Retirement System Buys Shares of 12,000 WEX Inc. (NYSE:WEX)

Louisiana State Employees Retirement System acquired a new position in shares of WEX Inc. (NYSE:WEX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 12,000 shares of the business services provider’s stock, valued at approximately $2,335,000.

Several other institutional investors and hedge funds have also made changes to their positions in WEX. FinTrust Capital Advisors LLC acquired a new stake in shares of WEX during the fourth quarter worth $25,000. VisionPoint Advisory Group LLC lifted its stake in shares of WEX by 74.7% during the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after buying an additional 62 shares during the period. Fred Alger Management LLC acquired a new stake in shares of WEX during the third quarter worth $34,000. International Assets Investment Management LLC acquired a new position in WEX during the third quarter valued at $37,000. Finally, State of Wyoming acquired a new position in WEX during the second quarter valued at $38,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Jagtar Narula sold 309 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were 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 $1,289,350.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WEX news, CFO Jagtar Narula sold 309 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were 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 approximately $1,289,350.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sara Trickett sold 887 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $224.61, for a total transaction of $199,229.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,433 shares of company stock worth $14,708,896. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

WEX has been the subject of a number of research reports. TheStreet upgraded shares of WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Evercore ISI boosted their target price on shares of WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Truist Financial lifted their price objective on shares of WEX from $185.00 to $220.00 and gave the company a “hold” rating in a report on Friday, February 9th. Barclays lifted their price objective on shares of WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, William Blair reaffirmed an “outperform” rating on shares of WEX in a report on Thursday, February 8th. Seven investment 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 company currently has an average rating of “Moderate Buy” and an average target price of $236.92.

WEX Stock Up 0.2 %

WEX stock opened at $233.47 on Wednesday. The stock has a market capitalization of $9.75 billion, a P/E ratio of 37.90, a P/E/G ratio of 1.51 and a beta of 1.59. The firm has a 50-day simple moving average of $228.29 and a 200-day simple moving average of $201.62. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55. WEX Inc. has a 52 week low of $161.95 and a 52 week high of $244.04.

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