Robeco Institutional Asset Management B.V. lifted its stake in WEX Inc. (NYSE:WEX) by 22.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,500 shares of the business services provider’s stock after purchasing an additional 5,000 shares during the period. Robeco Institutional Asset Management B.V. owned 0.06% of WEX worth $3,086,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. World Asset Management Inc increased its stake in shares of WEX by 0.4% in the 2nd quarter. World Asset Management Inc now owns 2,732 shares of the business services provider’s stock worth $285,000 after purchasing an additional 12 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in WEX by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,634 shares of the business services provider’s stock worth $587,000 after buying an additional 16 shares in the last quarter. Diversified Trust Co increased its stake in WEX by 0.5% in the 2nd quarter. Diversified Trust Co now owns 5,175 shares of the business services provider’s stock worth $540,000 after buying an additional 25 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in WEX by 0.8% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 6,681 shares of the business services provider’s stock worth $592,000 after buying an additional 53 shares in the last quarter. Finally, First Bank & Trust increased its stake in WEX by 5.1% in the 2nd quarter. First Bank & Trust now owns 1,686 shares of the business services provider’s stock worth $176,000 after buying an additional 82 shares in the last quarter.

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Shares of WEX Inc. (NYSE:WEX) opened at 121.71 on Tuesday. The stock has a market cap of $5.22 billion, a PE ratio of 73.41 and a beta of 1.79. The stock has a 50 day moving average of $116.06 and a 200 day moving average of $107.90. WEX Inc. has a 1-year low of $97.26 and a 1-year high of $123.62.

WEX announced that its board has initiated a stock repurchase plan on Tuesday, September 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other WEX news, SVP Hilary A. Rapkin sold 2,500 shares of WEX stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $115.00, for a total transaction of $287,500.00. Following the transaction, the senior vice president now directly owns 15,224 shares of the company’s stock, valued at $1,750,760. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Melissa D. Smith sold 3,333 shares of WEX stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $120.00, for a total transaction of $399,960.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,399,166 shares of company stock valued at $245,448,255. 0.86% of the stock is owned by insiders.

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods set a $130.00 price objective on WEX and gave the company a “buy” rating in a research report on Sunday, August 13th. BidaskClub raised shares of WEX from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Goldman Sachs Group, Inc. (The) raised shares of WEX from a “neutral” rating to a “buy” rating and increased their price target for the company from $114.00 to $126.00 in a report on Monday, September 11th. Zacks Investment Research raised shares of WEX from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a report on Friday, October 13th. Finally, Mizuho reaffirmed a “buy” rating and issued a $115.00 price target on shares of WEX in a report on Sunday, October 15th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $125.17.

About WEX

WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.

Institutional Ownership by Quarter for WEX (NYSE:WEX)

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