2,585 Shares in WEX Inc. $WEX Bought by United Services Automobile Association

Key Points

• United Services Automobile Association acquired 2,585 shares of WEX Inc., valued at approximately $400,000, during the 1st quarter, highlighting institutional interest in the company.
• Institutional investors collectively own 97.47% of WEX stock, with significant share increases from firms like Goldman Sachs and Millennium Management.
• WEX's stock saw a 3.9% increase, and the average target price from analysts is $179.82, with most rating the stock as a hold.

United Services Automobile Association bought a new position in WEX Inc. (NYSE:WEX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,585 shares of the business services provider's stock, valued at approximately $400,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of WEX by 158.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider's stock valued at $55,097,000 after purchasing an additional 215,036 shares during the last quarter. Petrus Trust Company LTA bought a new position in shares of WEX during the 1st quarter valued at about $447,000. Millennium Management LLC boosted its holdings in shares of WEX by 652.7% during the 1st quarter. Millennium Management LLC now owns 412,665 shares of the business services provider's stock valued at $64,797,000 after purchasing an additional 357,842 shares during the last quarter. Hawk Ridge Capital Management LP bought a new position in shares of WEX during the 1st quarter valued at about $6,260,000. Finally, EJF Capital LLC bought a new position in shares of WEX during the 1st quarter valued at about $1,460,000. Institutional investors own 97.47% of the company's stock.

WEX Stock Up 3.9%

Shares of NYSE WEX opened at $176.13 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 1.59 and a beta of 1.31. The firm's 50-day moving average price is $166.52 and its 200-day moving average price is $149.25.

Insider Transactions at WEX

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

Analysts Set New Price Targets

WEX has been the subject of several research reports. Morgan Stanley increased their price objective on shares of WEX from $142.00 to $170.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Robert W. Baird increased their price objective on shares of WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of WEX in a report on Thursday, July 17th. They set a "hold" rating and a $150.00 price objective for the company. Jefferies Financial Group increased their price objective on shares of WEX from $130.00 to $135.00 and gave the company a "hold" rating in a report on Tuesday, May 27th. Finally, UBS Group upped their target price on shares of WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $179.82.

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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