Blair William & Co. IL Trims Holdings in WEX Inc. $WEX

Key Points

• Blair William & Co. IL reduced its holdings in WEX Inc. by 58.5%, now owning approximately 0.07% of the company's shares worth $3.6 million after selling over 34,000 shares in the second quarter.
• Multiple institutional investors have modified their stakes in WEX, with UMB Bank increasing its stake by 22.1% and Brooklyn Investment Group boosting theirs by 50.7% during the same quarter.
• An analyst report downgraded WEX's rating from "strong-buy" to "hold", with UBS increasing the target price to $185.00, while the stock has an average target price of $180.91.

Blair William & Co. IL cut its holdings in WEX Inc. (NYSE:WEX - Free Report) by 58.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,426 shares of the business services provider's stock after selling 34,366 shares during the quarter. Blair William & Co. IL owned approximately 0.07% of WEX worth $3,588,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. UMB Bank n.a. boosted its stake in WEX by 22.1% in the 2nd quarter. UMB Bank n.a. now owns 376 shares of the business services provider's stock worth $55,000 after purchasing an additional 68 shares in the last quarter. Inspire Investing LLC boosted its stake in WEX by 3.5% in the 1st quarter. Inspire Investing LLC now owns 2,588 shares of the business services provider's stock worth $406,000 after purchasing an additional 87 shares in the last quarter. Isthmus Partners LLC boosted its stake in WEX by 5.4% in the 1st quarter. Isthmus Partners LLC now owns 1,987 shares of the business services provider's stock worth $312,000 after purchasing an additional 101 shares in the last quarter. Cornerstone Investment Partners LLC boosted its stake in WEX by 2.9% in the 1st quarter. Cornerstone Investment Partners LLC now owns 4,705 shares of the business services provider's stock worth $739,000 after purchasing an additional 133 shares in the last quarter. Finally, Brooklyn Investment Group boosted its stake in WEX by 50.7% in the 1st quarter. Brooklyn Investment Group now owns 422 shares of the business services provider's stock worth $66,000 after purchasing an additional 142 shares in the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WEX has been the topic of a number of analyst reports. Zacks Research cut shares of WEX from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. 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. Weiss Ratings restated a "hold (c)" rating on shares of WEX in a research note on Wednesday, October 8th. UBS Group upped their target price on shares of WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Finally, Barclays upped their target price on shares of WEX from $135.00 to $170.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Three research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $180.91.

Insider Activity

In related news, COO Carlos Carriedo sold 875 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly 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 legal filing with the SEC, which can be accessed through this link. Also, insider Ann Elena Drew sold 1,931 shares of the stock in a transaction that occurred 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 directly owned 7,295 shares of the company's stock, valued at $1,252,478.55. This represents a 20.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

WEX Price Performance

NYSE WEX opened at $150.44 on Tuesday. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $217.47. The firm has a market capitalization of $5.15 billion, a P/E ratio of 19.02, a PEG ratio of 1.40 and a beta of 1.26. 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 company has a 50-day moving average price of $166.96 and a 200-day moving average price of $150.05.

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.

Want to see what other hedge funds are holding WEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEX Inc. (NYSE:WEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.