Blair William & Co. IL Has $9.23 Million Stock Position in WEX Inc. (NYSE:WEX)

Key Points

• Blair William & Co. IL significantly reduced its holdings in WEX Inc. by 52.6% in Q1, ending the quarter with $9.23 million in stock.
• Insider trading activity included Jennifer Kimball, CAO, selling 1,400 shares, while CEO Melissa D. Smith bought 3,721 shares, reflecting mixed positions among insiders.
• Analysts have raised WEX's price targets, with estimates now ranging from $135 to $185, while the stock maintains a consensus rating of "Hold".

Blair William & Co. IL lowered its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 52.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,792 shares of the business services provider's stock after selling 65,349 shares during the quarter. Blair William & Co. IL owned 0.17% of WEX worth $9,232,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. LPL Financial LLC boosted its stake in shares of WEX by 13.2% during the 4th quarter. LPL Financial LLC now owns 29,408 shares of the business services provider's stock worth $5,283,000 after acquiring an additional 3,439 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of WEX during the fourth quarter valued at $3,446,000. Russell Investments Group Ltd. boosted its position in shares of WEX by 172.4% in the 4th quarter. Russell Investments Group Ltd. now owns 6,623 shares of the business services provider's stock valued at $1,161,000 after purchasing an additional 4,192 shares during the period. Quadrant Capital Group LLC boosted its position in shares of WEX by 72.2% in the 4th quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider's stock valued at $48,000 after purchasing an additional 114 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in WEX during the 4th quarter worth about $74,000. 97.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at WEX

In other news, CEO Melissa D. Smith bought 3,721 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was acquired at an average cost of $134.57 per share, for a total transaction of $500,734.97. Following the completion of the purchase, the chief executive officer owned 101,182 shares of the company's stock, valued at $13,616,061.74. This trade represents a 3.82% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ann Elena Drew sold 1,931 shares of WEX stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total transaction of $331,533.39. Following the sale, the insider owned 7,295 shares in the company, valued at approximately $1,252,478.55. This trade represents a 20.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,206 shares of company stock worth $665,265 over the last quarter. 1.40% of the stock is owned by company insiders.

WEX Stock Performance

Shares of WEX traded down $1.44 during trading hours on Friday, reaching $168.38. 348,993 shares of the company traded hands, compared to its average volume of 505,234. The company has a debt-to-equity ratio of 3.99, a quick ratio of 1.04 and a current ratio of 1.04. The stock's fifty day moving average is $152.39 and its 200 day moving average is $148.52. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $217.47. The stock has a market cap of $5.77 billion, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 1.59 and a beta of 1.28.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Oppenheimer started coverage on shares of WEX in a research report on Thursday, May 15th. They issued a "market perform" rating on the stock. Barclays lifted their price objective 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. Wells Fargo & Company lowered their price objective on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group lifted their price objective on shares of WEX from $130.00 to $135.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. Finally, Mizuho lifted their price objective on shares of WEX from $150.00 to $185.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, WEX currently has an average rating of "Hold" and an average target price of $181.50.

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.