Tygh Capital Management Inc. grew its holdings in WEX Inc (NYSE:WEX) by 20.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 48,686 shares of the business services provider’s stock after acquiring an additional 8,422 shares during the quarter. WEX comprises 1.4% of Tygh Capital Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Tygh Capital Management Inc. owned about 0.11% of WEX worth $6,819,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its position in WEX by 0.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 92,275 shares of the business services provider’s stock worth $12,923,000 after acquiring an additional 679 shares during the period. ClariVest Asset Management LLC acquired a new stake in WEX during the 4th quarter worth approximately $2,213,000. Chicago Equity Partners LLC lifted its position in WEX by 1.2% during the 4th quarter. Chicago Equity Partners LLC now owns 18,165 shares of the business services provider’s stock worth $2,544,000 after acquiring an additional 215 shares during the period. New Amsterdam Partners LLC NY acquired a new stake in WEX during the 4th quarter worth approximately $1,544,000. Finally, BB&T Securities LLC lifted its position in WEX by 15.0% during the 4th quarter. BB&T Securities LLC now owns 2,295 shares of the business services provider’s stock worth $321,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 97.16% of the company’s stock.
Shares of WEX traded up $1.50 during mid-day trading on Tuesday, hitting $168.53. The company’s stock had a trading volume of 4,511 shares, compared to its average volume of 402,632. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $7.20 billion, a P/E ratio of 35.87, a P/E/G ratio of 1.36 and a beta of 1.55. WEX Inc has a 1-year low of $131.35 and a 1-year high of $203.49.
A number of analysts have weighed in on the company. Deutsche Bank reaffirmed a “buy” rating and set a $186.00 price objective on shares of WEX in a research report on Wednesday, November 21st. Goldman Sachs Group cut WEX from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $205.00 to $167.00 in a research report on Tuesday, December 11th. Zacks Investment Research cut WEX from a “buy” rating to a “hold” rating in a research report on Monday, December 10th. Barclays assumed coverage on WEX in a research report on Wednesday, November 14th. They set an “overweight” rating and a $211.00 price objective for the company. Finally, ValuEngine cut WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $193.67.
In other news, insider David G. Cooper sold 607 shares of the firm’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 value of $88,106.05. Following the completion of the sale, the insider now directly owns 1,065 shares of the company’s stock, valued at approximately $154,584.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.57% of the stock is owned by company insiders.
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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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