Allspring Global Investments Holdings LLC Sells 18,656 Shares of WEX Inc. (NYSE:WEX)

Allspring Global Investments Holdings LLC reduced its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 34.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,538 shares of the business services provider's stock after selling 18,656 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of WEX worth $6,914,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WEX. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of WEX by 111.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider's stock worth $170,000 after buying an additional 500 shares during the last quarter. Bank of Montreal Can lifted its position in shares of WEX by 8.1% during the 1st quarter. Bank of Montreal Can now owns 4,181 shares of the business services provider's stock worth $732,000 after buying an additional 315 shares during the last quarter. BlackRock Inc. lifted its position in shares of WEX by 1.2% during the 1st quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider's stock worth $732,950,000 after buying an additional 49,480 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of WEX by 8.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 24,375 shares of the business services provider's stock worth $4,471,000 after buying an additional 1,824 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of WEX by 38.3% during the 1st quarter. Sei Investments Co. now owns 21,260 shares of the business services provider's stock worth $3,793,000 after buying an additional 5,884 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on WEX shares. Mizuho upped their price objective on WEX from $225.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, February 13th. JPMorgan Chase & Co. increased their target price on WEX from $205.00 to $239.00 and gave the company a "neutral" rating in a research report on Friday, February 9th. Citigroup increased their target price on WEX from $240.00 to $280.00 and gave the company a "buy" rating in a research report on Wednesday. William Blair reiterated an "outperform" rating on shares of WEX in a research report on Thursday, February 8th. Finally, Truist Financial raised their price objective on WEX from $185.00 to $220.00 and gave the stock a "hold" rating in a research report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $240.00.

WEX Stock Down 0.0 %

WEX stock traded down $0.03 during mid-day trading on Thursday, reaching $229.84. The stock had a trading volume of 222,418 shares, compared to its average volume of 298,178. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.05 and a current ratio of 1.05. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The stock's 50-day simple moving average is $229.30 and its 200-day simple moving average is $202.01. The firm has a market capitalization of $9.59 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 1.51 and a beta of 1.59.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $663.30 million during the quarter, compared to analyst estimates of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. On average, sell-side analysts forecast that WEX Inc. will post 13.55 EPS for the current fiscal year.

Insider Activity at WEX

In related news, CEO Melissa D. Smith sold 41,107 shares of WEX stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the sale, the chief executive officer now directly owns 81,998 shares in the company, valued at $16,809,590. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Ann Elena Drew sold 4,531 shares of WEX stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total transaction of $987,893.93. Following the sale, the insider now directly owns 3,653 shares in the company, valued at $796,463.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Melissa D. Smith sold 41,107 shares of WEX stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $205.00, for a total value of $8,426,935.00. Following the sale, the chief executive officer now owns 81,998 shares in the company, valued at $16,809,590. The disclosure for this sale can be found here. Insiders have sold a total of 69,433 shares of company stock valued at $14,708,896 over the last 90 days. Insiders own 1.10% of the company's stock.

WEX 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.