Brookwood Investment Group LLC Purchases New Stake in WEX Inc. (NYSE:WEX)

Key Points

• Brookwood Investment Group LLC acquired 1,774 shares of WEX Inc., valued at approximately $279,000, marking a new stake in the business services provider in Q1.
• Analysts from various firms have set a consensus price target of $179.00 for WEX, with ratings ranging from "hold" to "outperform".
• WEX's CEO purchased 3,721 shares for about $500,734, while the CAO sold 1,400 shares, indicating active insider trading.

Brookwood Investment Group LLC acquired a new position in shares of WEX Inc. (NYSE:WEX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,774 shares of the business services provider's stock, valued at approximately $279,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Investment Management Corp VA ADV acquired a new position in WEX in the fourth quarter worth about $25,000. State of Wyoming bought a new position in WEX during the 4th quarter worth approximately $35,000. Quadrant Capital Group LLC grew 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 worth $48,000 after acquiring an additional 114 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of WEX by 161.5% in the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after acquiring an additional 168 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of WEX during the 4th quarter valued at approximately $74,000. Institutional investors own 97.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WEX. 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 report on Tuesday, May 27th. Wells Fargo & Company decreased their price target on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. William Blair reiterated a "market perform" rating on shares of WEX in a research note on Friday. Robert W. Baird raised their target price on shares of WEX from $186.00 to $198.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Oppenheimer began coverage on WEX in a report on Thursday, May 15th. They set a "market perform" rating for the company. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, WEX presently has an average rating of "Hold" and a consensus price target of $179.00.

Insider Activity at WEX

In other news, CEO Melissa D. Smith purchased 3,721 shares of the stock in a transaction dated Thursday, May 29th. The shares were bought at an average cost of $134.57 per share, for a total transaction of $500,734.97. Following the transaction, the chief executive officer owned 101,182 shares in the company, valued at $13,616,061.74. This trade represents a 3.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer Kimball sold 1,400 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $131.08, for a total value of $183,512.00. Following the completion of the sale, the chief accounting officer owned 3,177 shares of the company's stock, valued at approximately $416,441.16. This trade represents a 30.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.

WEX Trading Up 0.8%

NYSE:WEX opened at $175.53 on Friday. 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 $6.01 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 2.68 and a beta of 1.23. The business has a fifty day moving average of $145.30 and a 200-day moving average of $149.09. The company has a debt-to-equity ratio of 3.99, a quick ratio of 1.05 and a current ratio of 1.04.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.11. The business had revenue of $636.60 million for the quarter, compared to analysts' expectations of $631.42 million. WEX had a net margin of 11.79% and a return on equity of 41.87%. The company's revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.46 earnings per share. Equities analysts predict that WEX Inc. will post 14.09 earnings per share for the current year.

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.

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