46,862 WEX Inc. $WEX Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors reduced its WEX stake by 12.8%, selling 46,862 shares and retaining 320,476 shares valued at approximately $54.1 million. Institutional investors collectively own 97.47% of WEX.
• WEX insiders sold 35,527 shares worth about $6.74 million over the past three months, while company insiders retain a 1.40% ownership stake.
• Analyst sentiment is mixed but leans positive, with five Buy ratings and eight Hold ratings, producing an average rating of “Hold” and an average price target of $186.40. WEX shares recently opened at $197.72, near their 52-week high of $203.99.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 320,476 shares of the business services provider's stock after selling 46,862 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.94% of WEX worth $54,064,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jupiter Topco LLC acquired a new position in shares of WEX in the second quarter valued at approximately $559,710,000. Janus Henderson Group PLC raised its holdings in WEX by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 3,916,073 shares of the business services provider's stock valued at $599,313,000 after buying an additional 44,031 shares during the last quarter. BlackRock Inc. bought a new position in WEX in the 2nd quarter valued at approximately $446,833,000. Bank of America Corp DE boosted its position in WEX by 13.6% during the 1st quarter. Bank of America Corp DE now owns 823,681 shares of the business services provider's stock worth $126,056,000 after buying an additional 98,524 shares during the period. Finally, Turtle Creek Asset Management Inc. boosted its position in WEX by 58.5% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 669,335 shares of the business services provider's stock worth $102,435,000 after buying an additional 246,923 shares during the period. 97.47% of the stock is owned by institutional investors.

Insider Activity at WEX

In other news, COO Joel Alan Dearborn, Jr. sold 3,343 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $200.00, for a total transaction of $668,600.00. Following the transaction, the chief operating officer owned 17,021 shares of the company's stock, valued at $3,404,200. This represents a 16.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Carlos Carriedo sold 1,075 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $186.00, for a total transaction of $199,950.00. Following the transaction, the chief operating officer directly owned 11,076 shares in the company, valued at $2,060,136. This trade represents a 8.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 35,527 shares of company stock valued at $6,743,860. Company insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WEX shares. Morgan Stanley upped their price target on shares of WEX from $161.00 to $172.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Cantor Fitzgerald set a $178.00 target price on WEX in a research report on Monday, July 27th. Mizuho lifted their target price on WEX from $170.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Evercore raised WEX to an "outperform" rating in a report on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods upped their price target on WEX from $200.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $186.40.

WEX Stock Performance

Shares of WEX stock opened at $197.72 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.62. The business has a 50-day moving average price of $186.76 and a two-hundred day moving average price of $166.79. WEX Inc. has a 1-year low of $125.29 and a 1-year high of $203.99. The company has a market cap of $6.74 billion, a P/E ratio of 19.69, a PEG ratio of 1.01 and a beta of 0.84.

WEX Company Profile

WEX Inc NYSE: WEX is a financial technology company that provides payment-processing and business-management solutions. Its products are designed to help organizations manage corporate spending, employee benefits and mobility-related expenses through specialized payment accounts, software and data tools.

WEX's mobility business serves commercial vehicle fleets with fuel cards, fleet-payment programs, expense controls, telematics integrations and related solutions. The company also supports emerging mobility needs, including electric-vehicle charging payments.

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