WEX Inc. $WEX Shares Acquired by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in WEX Inc. by 58.7% in Q1, acquiring a total of 39,682 shares now valued at approximately $6.23 million.
• In addition to Algert, other institutional investors, including GAMMA Investing LLC and Cerity Partners LLC, also made significant increases in their holdings during the same quarter.
• WEX currently has an average target price of $181.50, with twelve analysts rating the stock as a hold and three as a buy.

Algert Global LLC lifted its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 58.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,682 shares of the business services provider's stock after acquiring an additional 14,680 shares during the quarter. Algert Global LLC owned 0.12% of WEX worth $6,231,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in shares of WEX during the 4th quarter worth about $25,000. State of Wyoming purchased a new stake in shares of WEX during the 4th quarter worth about $35,000. Farther Finance Advisors LLC boosted its stake in shares of WEX by 161.5% during the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock worth $44,000 after acquiring an additional 168 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of WEX by 78.1% during the 1st quarter. GAMMA Investing LLC now owns 440 shares of the business services provider's stock worth $69,000 after acquiring an additional 193 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its stake in shares of WEX by 17.5% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,168 shares of the business services provider's stock worth $205,000 after acquiring an additional 174 shares in the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WEX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of WEX in a research note on Thursday, July 17th. They set a "hold" rating and a $150.00 target price on the stock. William Blair restated a "market perform" rating on shares of WEX in a research report on Friday, July 25th. Oppenheimer started coverage on shares of WEX in a research report on Thursday, May 15th. They set a "market perform" rating for the company. UBS Group upped their price target on shares of WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Barclays upped their price target on shares of WEX from $135.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Three research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $179.82.

WEX Price Performance

WEX traded up $3.5030 during trading on Friday, reaching $173.1130. The company's stock had a trading volume of 299,895 shares, compared to its average volume of 419,994. 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 has a fifty day simple moving average of $159.14 and a two-hundred day simple moving average of $147.74. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $217.47. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 1.59 and a beta of 1.28.

Insider Buying and Selling at WEX

In other WEX news, insider Ann Elena Drew sold 1,931 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were 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. This trade 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, CAO Jennifer Kimball sold 1,400 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $131.08, for a total transaction of $183,512.00. Following the completion of the transaction, the chief accounting officer directly owned 3,177 shares in the company, valued at $416,441.16. This trade represents a 30.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,206 shares of company stock valued at $665,265. Company 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.