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 reduced its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 43.6% during the 1st quarter, according to its most recent 13F filing with the SEC. 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 approximately 0.25% of WEX worth $13,183,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in WEX. Investment Management Corp VA ADV purchased a new stake in shares of WEX during the 4th quarter worth $25,000. State of Wyoming purchased a new stake in shares of WEX during the 4th quarter worth $35,000. Farther Finance Advisors LLC boosted its position 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 purchasing an additional 168 shares in the last quarter. Quarry LP purchased a new stake in shares of WEX in the 1st quarter worth about $44,000. Finally, SVB Wealth LLC purchased a new stake in shares of WEX in the 1st quarter worth about $49,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Trading Up 1.2%

WEX traded up $2.10 on Monday, reaching $171.83. 300,526 shares of the company's stock were exchanged, compared to its average volume of 311,452. The company's 50 day moving average is $167.34 and its 200-day moving average is $149.32. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 1.59 and a beta of 1.31. WEX Inc. has a twelve month low of $110.45 and a twelve month high of $217.47. The company has a debt-to-equity ratio of 3.99, a quick ratio of 1.04 and a current ratio of 1.04.

Insider Buying and Selling

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

Analysts Set New Price Targets

WEX has been the topic of several recent research reports. Robert W. Baird boosted their price objective on shares of WEX from $186.00 to $198.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Morgan Stanley upped their target price 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. William Blair restated a "market perform" rating on shares of WEX in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of WEX in a report on Thursday, July 17th. They issued a "hold" rating and a $150.00 target price on the stock. Finally, Mizuho upped their target price on shares of WEX from $150.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Three analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $179.82.

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.