Wedmont Private Capital Takes $212,000 Position in WEX Inc. (NYSE:WEX)

Wedmont Private Capital purchased a new position in shares of WEX Inc. (NYSE:WEX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,160 shares of the business services provider’s stock, valued at approximately $212,000.

Several other large investors have also recently added to or reduced their stakes in WEX. Norges Bank purchased a new position in shares of WEX in the fourth quarter valued at $89,745,000. Kodai Capital Management LP purchased a new position in WEX in the 4th quarter valued at about $49,750,000. Wellington Management Group LLP grew its stake in shares of WEX by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after acquiring an additional 179,813 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of WEX by 2,524.0% during the fourth quarter. Handelsbanken Fonder AB now owns 163,844 shares of the business services provider’s stock worth $31,876,000 after acquiring an additional 157,600 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of WEX by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock worth $816,919,000 after acquiring an additional 67,893 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Trading Up 2.4 %

Shares of NYSE WEX opened at $177.10 on Wednesday. The stock’s 50 day simple moving average is $177.79 and its 200 day simple moving average is $203.76. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 1.04 and a beta of 1.54. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. WEX Inc. has a 12-month low of $161.95 and a 12-month high of $244.04.

Analysts Set New Price Targets

A number of brokerages have weighed in on WEX. JPMorgan Chase & Co. lowered their price objective on WEX from $246.00 to $210.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company dropped their price target on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, July 26th. Barclays increased their price objective on shares of WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods dropped their target price on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Finally, Citigroup increased their price target on shares of WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $240.42.

Insider Buying and Selling at WEX

In other news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $172.73, for a total transaction of $204,166.86. Following the completion of the transaction, the insider now directly owns 5,584 shares in the company, valued at $964,524.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Ann Elena Drew sold 1,182 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the transaction, the insider now owns 5,584 shares in the company, valued at approximately $964,524.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jagtar Narula sold 540 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.00, for a total transaction of $97,200.00. Following the transaction, the chief financial officer now owns 8,168 shares in the company, valued at approximately $1,470,240. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,826 shares of company stock worth $693,369. 1.10% of the stock is owned by company insiders.

WEX Company Profile

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.