11,500 Shares in WEX Inc. (NYSE:WEX) Purchased by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP acquired a new position in WEX Inc. by purchasing 11,500 shares valued at around $1.8 million during the 1st quarter.
• Institutional investors own 97.47% of WEX's stock, highlighting significant institutional interest in the company.
• WEX's stock has experienced analyst activity, with price targets ranging from $140 to $185, reflecting varied sentiments among analysts with a consensus rating of "Hold."

Aigen Investment Management LP purchased a new position in WEX Inc. (NYSE:WEX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,500 shares of the business services provider's stock, valued at approximately $1,806,000.

Several other institutional investors also recently added to or reduced their stakes in WEX. Envestnet Asset Management Inc. boosted its holdings in shares of WEX by 1.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 59,053 shares of the business services provider's stock valued at $9,272,000 after buying an additional 578 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of WEX by 27,871.3% in the 1st quarter. GAMMA Investing LLC now owns 69,089 shares of the business services provider's stock valued at $10,848,000 after buying an additional 68,842 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of WEX by 88.5% in the 1st quarter. Cerity Partners LLC now owns 10,002 shares of the business services provider's stock valued at $1,571,000 after buying an additional 4,695 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of WEX by 161.5% in the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after buying an additional 168 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of WEX in the 1st quarter valued at about $279,000. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Trading Down 0.8%

Shares of WEX opened at $168.38 on Friday. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $217.47. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 3.99. The firm's fifty day moving average is $152.39 and its two-hundred day moving average is $148.28. The stock has a market cap of $5.77 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 1.58 and a beta of 1.28.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Morgan Stanley lifted their target price on shares of WEX from $142.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of WEX in a research note on Thursday, July 17th. They issued a "hold" rating and a $150.00 target price for the company. UBS Group lifted their target price on shares of WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Barclays lifted their target price on shares of WEX from $135.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $181.50.

Insider Buying and Selling at WEX

In other WEX news, insider Ann Elena Drew sold 1,931 shares of WEX stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total transaction of $331,533.39. Following the sale, the insider owned 7,295 shares of the company's stock, valued at $1,252,478.55. The trade was a 20.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Carlos Carriedo sold 875 shares of WEX stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $171.68, for a total transaction of $150,220.00. Following the sale, the chief operating officer directly owned 5,270 shares in the company, valued at approximately $904,753.60. This trade represents a 14.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,206 shares of company stock worth $665,265. Company insiders own 1.40% of the company's stock.

WEX 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.

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