International Assets Investment Management LLC Buys 35,804 Shares of WEX Inc. (NYSE:WEX)

International Assets Investment Management LLC increased its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 19,044.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,992 shares of the business services provider's stock after buying an additional 35,804 shares during the quarter. International Assets Investment Management LLC owned about 0.08% of WEX worth $7,002,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC raised its position in WEX by 56.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 141,287 shares of the business services provider's stock valued at $26,575,000 after purchasing an additional 50,771 shares during the period. Burney Co. raised its position in WEX by 131.1% in the third quarter. Burney Co. now owns 21,120 shares of the business services provider's stock valued at $3,972,000 after purchasing an additional 11,983 shares during the period. Deutsche Bank AG raised its position in WEX by 65.5% in the third quarter. Deutsche Bank AG now owns 54,523 shares of the business services provider's stock valued at $10,255,000 after purchasing an additional 21,578 shares during the period. Comerica Bank purchased a new stake in WEX in the third quarter valued at $6,545,000. Finally, Vanguard Group Inc. raised its position in WEX by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,131,124 shares of the business services provider's stock valued at $777,023,000 after purchasing an additional 83,102 shares during the period. Hedge funds and other institutional investors own 97.47% of the company's stock.

Analysts Set New Price Targets

WEX has been the subject of several analyst reports. StockNews.com downgraded WEX from a "buy" rating to a "hold" rating in a research note on Tuesday, March 26th. Robert W. Baird increased their target price on WEX from $272.00 to $285.00 and gave the company an "outperform" rating in a report on Monday, April 15th. Truist Financial increased their target price on WEX from $185.00 to $220.00 and gave the company a "hold" rating in a report on Friday, February 9th. TheStreet upgraded WEX from a "c" rating to a "b" rating in a report on Thursday, February 8th. Finally, Evercore ISI raised their price objective on WEX from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Tuesday, March 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $240.00.

Insider Buying and Selling

In other news, CAO Jennifer Kimball sold 1,200 shares of the company's stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total transaction of $253,860.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,909 shares in the company, valued at $403,848.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other WEX news, CAO Jennifer Kimball sold 1,200 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total transaction of $253,860.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,909 shares in the company, valued at $403,848.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Melissa D. Smith sold 13,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $222.33, for a total value of $2,890,290.00. Following the sale, the chief executive officer now owns 81,998 shares in the company, valued at approximately $18,230,615.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,157 shares of company stock worth $7,090,562. 1.10% of the stock is currently owned by insiders.

WEX Stock Down 0.8 %

NYSE:WEX traded down $1.63 during mid-day trading on Wednesday, hitting $210.03. The company had a trading volume of 206,303 shares, compared to its average volume of 307,006. The business has a fifty day simple moving average of $229.15 and a 200-day simple moving average of $205.04. 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 1 year low of $161.95 and a 1 year high of $244.04. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 1.21 and a beta of 1.60.

WEX (NYSE:WEX - Get Free Report) last posted its earnings results on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing the consensus estimate of $3.29 by ($0.15). The company had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. Equities analysts forecast that WEX Inc. will post 13.96 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.