14,898 Shares in WEX Inc. $WEX Bought by Deroy & Devereaux Private Investment Counsel Inc.

Key Points

• Deroy & Devereaux Private Investment Counsel Inc. purchased 14,898 shares of WEX Inc., valued at approximately $2.2 million, indicating institutional interest in the company.
• WEX's stock is currently trading at $152.37 with a market cap of $5.22 billion and a consensus rating of "Hold" among analysts.
• Insider trading activity includes the sale of shares by COO Carlos Carriedo and insider Ann Elena Drew, reflecting a decrease in ownership among key insiders.

Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in WEX Inc. (NYSE:WEX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,898 shares of the business services provider's stock, valued at approximately $2,188,000.

A number of other hedge funds also recently modified their holdings of WEX. Farther Finance Advisors LLC increased its position in shares of WEX by 161.5% in the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock worth $44,000 after purchasing an additional 168 shares during the period. GAMMA Investing LLC grew its position in WEX by 78.1% in the first quarter. GAMMA Investing LLC now owns 440 shares of the business services provider's stock valued at $69,000 after acquiring an additional 193 shares during the last quarter. SG Americas Securities LLC bought a new position in WEX in the first quarter valued at about $279,000. Johnson Investment Counsel Inc. grew its position in WEX by 145.1% in the first quarter. Johnson Investment Counsel Inc. now owns 13,461 shares of the business services provider's stock valued at $2,114,000 after acquiring an additional 7,968 shares during the last quarter. Finally, Blue Trust Inc. grew its position in WEX by 69.8% in the first quarter. Blue Trust Inc. now owns 2,420 shares of the business services provider's stock valued at $380,000 after acquiring an additional 995 shares during the last quarter. Institutional investors own 97.47% of the company's stock.

WEX Stock Performance

NYSE:WEX opened at $152.37 on Wednesday. The stock has a market cap of $5.22 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 1.41 and a beta of 1.26. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99. The stock's 50-day moving average is $166.59 and its 200-day moving average is $150.06. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $217.47.

Wall Street Analyst Weigh In

WEX has been the topic of a number of recent analyst reports. Mizuho lifted their target price on WEX from $150.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Barclays lifted their target price on WEX from $135.00 to $170.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. UBS Group lifted their target price on WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of WEX in a research report on Wednesday, October 8th. Finally, Zacks Research cut WEX from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Three analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, WEX currently has a consensus rating of "Hold" and an average target price of $173.50.

Insider Activity

In related news, insider Ann Elena Drew sold 1,931 shares of WEX stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $171.69, for a total value of $331,533.39. Following the transaction, the insider directly owned 7,295 shares of the company's stock, valued at $1,252,478.55. The trade was a 20.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Carlos Carriedo sold 875 shares of WEX stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $171.68, for a total value of $150,220.00. Following the completion of the transaction, the chief operating officer directly owned 5,270 shares in the company, valued at approximately $904,753.60. This represents a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

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.

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