WEX Inc (WEX) Position Raised by CIBC Private Wealth Group LLC
CIBC Private Wealth Group LLC increased its holdings in shares of WEX Inc (NYSE:WEX) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,275 shares of the business services provider’s stock after purchasing an additional 679 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.21% of WEX worth $12,923,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Ipswich Investment Management Co. Inc. purchased a new stake in WEX during the fourth quarter worth approximately $32,000. TRUE Private Wealth Advisors purchased a new stake in WEX in the third quarter valued at approximately $103,000. Mondrian Capital Management LLC purchased a new stake in WEX in the fourth quarter valued at approximately $140,000. Cerebellum GP LLC lifted its stake in WEX by 12.4% in the fourth quarter. Cerebellum GP LLC now owns 1,061 shares of the business services provider’s stock valued at $149,000 after buying an additional 117 shares during the last quarter. Finally, Parallel Advisors LLC purchased a new stake in WEX in the third quarter valued at approximately $166,000. Hedge funds and other institutional investors own 97.16% of the company’s stock.
In other news, insider David G. Cooper sold 607 shares of the company’s stock in a transaction that occurred on Monday, December 17th. The stock was sold at an average price of $145.15, for a total transaction of $88,106.05. Following the completion of the sale, the insider now owns 1,065 shares in the company, valued at $154,584.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.57% of the stock is owned by corporate insiders.
A number of equities research analysts have weighed in on the company. ValuEngine upgraded WEX from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. William Blair reiterated an “outperform” rating on shares of WEX in a research note on Wednesday, January 30th. Jefferies Financial Group assumed coverage on WEX in a research note on Monday, January 28th. They issued a “hold” rating and a $170.00 price objective for the company. BTIG Research assumed coverage on WEX in a research note on Thursday, January 17th. They issued a “buy” rating and a $198.00 price objective for the company. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $180.00 price objective (down previously from $200.00) on shares of WEX in a research note on Wednesday, January 16th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $193.67.
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WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.
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