M&T Bank Corp boosted its stake in WEX Inc. (NYSE:WEX – Get Rating) by 22.3% during the 2nd quarter, Holdings Channel.com reported. The firm held 1,851 shares after buying 338 over the time. According to its last SEC report, M&T Bank Corp. owned $288,000 worth of WEX.
Several hedge funds and institutional investors recently increased or decreased their WEX positions. Wellington Management Group LLP increased its WEX holding 4.2% in Q1. After buying 164,902 shares during the time, Wellington Management Group LLP owns 4,101,566 shares worth $731,925,000. Vanguard Group Inc. increased its WEX holdings by 3.2% in Q1. After buying 131,664 shares over the time, Vanguard Group Inc. owns 4,196,239 shares worth $748,819,000. Jennison Associates LLC bought more WEX shares in the second quarter. After buying 108,858 shares in the last quarter, Jennison Associates LLC now owns 417,765 shares worth $64,988,000. In the first quarter, Hood River Capital Management LLC bought $16,005,000 worth of WEX shares. In the first quarter, Walleye Capital LLC bought $8,992,000 worth of WEX shares. Institutional investors hold 99.50% of the stock.
WEX began Wednesday at $163.25. WEX Inc.’s 52-week low is $123.01 and high is $183.38. The company’s 50-day and 200-day moving averages are $146.87 and $156.58. Debt-to-equity is 1.62, quick is 1.12, and current is 1.12. The firm has a $7.12 billion market value, 73.87 P/E, 0.74 P/E/G, and 1.63 beta.
Insider Buying and Selling at WEX
Melanie J. Tinto sold 766 WEX shares on Friday, August 19th. The stock was sold for $165.69, totaling $126,918.54. The insider now owns 6,353 shares worth $1,052,628.57. The transaction was reported in an SEC filing. Melanie J. Tinto sold 766 WEX shares on Friday, August 19th. The stock was sold for $165.69, totaling $126,918.54. The insider now owns 6,353 shares worth $1,052,628.57. SEC filing revealed the transaction. Also, insider Hilary A. Rapkin sold 6,156 shares of the firm’s stock in a transaction dated Tuesday, November 1st. At $165.19 per share, the stock was worth $1,016,909.64. Following the completion of the transaction, the insider now directly owns 12,328 shares in the company, valued at approximately $2,036,462.32. Insiders sold 7,922 shares worth $1,307,148 in the previous 90 days. Insiders own 1.0% of the stock.
Analysts recently remarked on the firm. Mizuho lowered WEX’s price objective to $200.00 and gave the company a “buy” rating on Monday. Keefe, Bruyette & Woods decreased WEX’s target price from $226.00 to $185.00 on 10/10. Robert W. Baird raised WEX’s price objective to $180.00 in a report released on Friday. Morgan Stanley raised WEX’s target price to $157.00 and given the stock a “equal weight” rating in a research report on Friday, October 28th. Truist Financial raised WEX’s price objective from $145.00 to $170.00 on October 31. Five experts recommend holding the stock, while seven recommend buying it. MarketBeat rates the business a “Moderate Buy” with a $190.42 price target.
WEX Inc provides financial technology services globally. Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. Fleet Solutions processes fleet vehicle payments. Its services include customer, account activation, and account retention; authorization and billing inquiries; account maintenance; credit and collections; merchant services; analytics solutions with access to a web-based data analytics platform; and ancillary services and tools to manage expenses and capital requirements.