WEX Inc. $WEX Shares Sold by Bath Savings Trust Co

Key Points

• Bath Savings Trust Co reduced its holdings in WEX Inc. by 51.9%, selling 6,648 shares and holding 6,154 shares valued at approximately $904,000.
• Several institutional investors, including Hsbc Holdings PLC and Millennium Management LLC, significantly increased their stakes in WEX, with Hsbc's stake rising by 20,412.8%.
• WEX's stock opened at $167.56 and has a market cap of $5.74 billion, with analysts giving it a consensus rating of "Hold" and a price target of $179.82.

Bath Savings Trust Co lessened its holdings in WEX Inc. (NYSE:WEX - Free Report) by 51.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,154 shares of the business services provider's stock after selling 6,648 shares during the period. Bath Savings Trust Co's holdings in WEX were worth $904,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of WEX. Deutsche Bank AG lifted its position in shares of WEX by 48.9% in the 4th quarter. Deutsche Bank AG now owns 20,324 shares of the business services provider's stock worth $3,563,000 after purchasing an additional 6,677 shares during the period. State of Wyoming purchased a new stake in WEX during the fourth quarter valued at approximately $35,000. Tidal Investments LLC lifted its position in WEX by 42.5% during the fourth quarter. Tidal Investments LLC now owns 5,129 shares of the business services provider's stock valued at $899,000 after acquiring an additional 1,529 shares during the last quarter. Twinbeech Capital LP purchased a new stake in WEX during the fourth quarter valued at approximately $2,049,000. Finally, Vident Advisory LLC lifted its position in WEX by 4.3% during the fourth quarter. Vident Advisory LLC now owns 8,497 shares of the business services provider's stock valued at $1,490,000 after acquiring an additional 354 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Jefferies Financial Group increased their target price on shares of WEX from $130.00 to $135.00 and gave the company a "hold" rating in a research report on Tuesday, May 27th. Mizuho increased their target price on shares of WEX from $150.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. William Blair reissued a "market perform" rating on shares of WEX in a research report on Friday, July 25th. Zacks Research cut shares of WEX from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Finally, Robert W. Baird raised their price target on shares of WEX from $186.00 to $198.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, WEX presently has an average rating of "Hold" and an average price target of $179.82.

Insiders Place Their Bets

In other news, COO Carlos Carriedo sold 875 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $171.68, for a total value of $150,220.00. Following the sale, the chief operating officer owned 5,270 shares in the company, valued at $904,753.60. This represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ann Elena Drew sold 1,931 shares of the stock in a transaction on Wednesday, August 6th. The stock was 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 in the company, 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 NYSE WEX traded up $0.55 during midday trading on Monday, reaching $163.99. The company had a trading volume of 517,901 shares, compared to its average volume of 342,128. The business's 50-day simple moving average is $168.84 and its 200 day simple moving average is $149.73. The stock has a market cap of $5.62 billion, a P/E ratio of 20.73, a P/E/G ratio of 1.53 and a beta of 1.31. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $217.47. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99.

WEX 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.