WEX Inc. $WEX Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC reduced its holdings in WEX Inc. by 43.6%, selling 65,924 shares during the first quarter, leaving it with about 0.25% of the company valued at approximately $13.18 million.
• Hsbc Holdings PLC significantly increased its stake in WEX by 20,412.8%, acquiring 635,450 additional shares, while Jane Street Group LLC boosted its position by 399.9%.
• WEX's stock price has fluctuated between a 12-month low of $110.45 and a high of $217.47, with analysts generally rating the stock as a Hold and setting a consensus target price of $179.82.

AQR Capital Management LLC cut its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 43.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,201 shares of the business services provider's stock after selling 65,924 shares during the period. AQR Capital Management LLC owned about 0.25% of WEX worth $13,183,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in WEX. Hsbc Holdings PLC raised its position in shares of WEX by 20,412.8% in the 1st quarter. Hsbc Holdings PLC now owns 638,563 shares of the business services provider's stock worth $99,069,000 after acquiring an additional 635,450 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of WEX by 79.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 381,767 shares of the business services provider's stock worth $59,945,000 after acquiring an additional 169,137 shares in the last quarter. Jane Street Group LLC raised its position in shares of WEX by 399.9% in the 1st quarter. Jane Street Group LLC now owns 210,707 shares of the business services provider's stock worth $33,085,000 after acquiring an additional 168,558 shares in the last quarter. Sunriver Management LLC raised its position in shares of WEX by 75.9% in the 1st quarter. Sunriver Management LLC now owns 314,069 shares of the business services provider's stock worth $49,315,000 after acquiring an additional 135,490 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of WEX in the 1st quarter worth $18,783,000. 97.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WEX. Morgan Stanley boosted their target price on WEX from $142.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Robert W. Baird boosted their target price on WEX from $186.00 to $198.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. UBS Group boosted their target price on WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft began coverage on WEX in a research note on Thursday, July 17th. They set a "hold" rating and a $150.00 target price on the stock. Finally, William Blair restated a "market perform" rating on shares of WEX in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $179.82.

Insider Transactions at WEX

In related news, COO Carlos Carriedo sold 875 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $904,753.60. This represents a 14.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ann Elena Drew sold 1,931 shares of the company's stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

WEX Stock Performance

Shares of WEX traded down $6.24 during mid-day trading on Friday, reaching $169.92. The company had a trading volume of 258,775 shares, compared to its average volume of 315,881. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $217.47. 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 stock has a market capitalization of $5.82 billion, a P/E ratio of 21.48, a PEG ratio of 1.65 and a beta of 1.31. The stock has a 50 day moving average of $166.90 and a two-hundred day moving average of $149.34.

About WEX

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.