2,600 Shares in WEX Inc. $WEX Bought by Jump Financial LLC

Key Points

• Jump Financial LLC acquired 2,600 shares of WEX Inc. for approximately $408,000, reflecting growing institutional interest in the company.
• Analysts have raised WEX's price targets, with Morgan Stanley setting it at $170.00 and Mizuho targeting $185.00, while the average consensus price target is $179.82.
• Insiders have recently sold significant amounts of WEX stock, with COO Carlos Carriedo and insider Ann Elena Drew reducing their holdings by 14.24% and 20.93%, respectively.

Jump Financial LLC acquired a new position in WEX Inc. (NYSE:WEX - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 2,600 shares of the business services provider's stock, valued at approximately $408,000.

A number of other large investors have also recently made changes to their positions in WEX. Hsbc Holdings PLC grew its position in shares of WEX by 140.4% in the 4th quarter. Hsbc Holdings PLC now owns 3,113 shares of the business services provider's stock worth $547,000 after buying an additional 1,818 shares during the last quarter. Northern Trust Corp grew its position in shares of WEX by 16.8% in the 4th quarter. Northern Trust Corp now owns 358,371 shares of the business services provider's stock worth $62,830,000 after buying an additional 51,617 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of WEX in the 4th quarter worth approximately $271,000. Algert Global LLC grew its position in shares of WEX by 198.4% in the 4th quarter. Algert Global LLC now owns 25,002 shares of the business services provider's stock worth $4,383,000 after buying an additional 16,622 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of WEX by 61.9% in the 4th quarter. BNP Paribas Financial Markets now owns 6,825 shares of the business services provider's stock worth $1,197,000 after buying an additional 2,610 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors.

WEX Stock Down 1.2%

NYSE:WEX traded down $2.08 during trading hours on Friday, reaching $171.28. 328,810 shares of the company traded hands, compared to its average volume of 323,849. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $217.47. The business's 50-day moving average price is $164.71 and its two-hundred day moving average price is $148.63. 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 has a market capitalization of $5.87 billion, a P/E ratio of 21.65, a P/E/G ratio of 1.60 and a beta of 1.31.

Insider Buying and Selling at WEX

In other news, COO Carlos Carriedo sold 875 shares of the business's stock in a transaction 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 owned 5,270 shares in the company, valued at $904,753.60. The trade was a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ann Elena Drew sold 1,931 shares of WEX stock in a transaction 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 completion of the sale, 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 position. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WEX shares. Jefferies Financial Group lifted their price objective on WEX from $130.00 to $135.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. UBS Group lifted their price objective on WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. William Blair restated a "market perform" rating on shares of WEX in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft began coverage on WEX in a research note on Thursday, July 17th. They issued a "hold" rating and a $150.00 target price for the company. Finally, Robert W. Baird raised their target price on WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, WEX has a consensus rating of "Hold" and a consensus price target 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.