Cambiar Investors LLC Sells 6,050 Shares of WEX Inc. $WEX

Key Points

• Cambiar Investors LLC reduced its stake in WEX Inc. by 10.6%, selling 6,050 shares and leaving it with 51,156 shares valued at $8,033,000.
• Insider sales included Ann Elena Drew selling 1,931 shares at an average price of $171.69, marking a 20.93% decrease in her holdings, while Jennifer Kimball sold 1,400 shares at $131.08, totaling a 30.59% decrease.
• Wall Street analysts have mixed ratings for WEX, with a consensus rating of "Hold" and an average target price of $181.50, while several brokerages have raised their price objectives for the stock.

Cambiar Investors LLC trimmed its position in WEX Inc. (NYSE:WEX - Free Report) by 10.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,156 shares of the business services provider's stock after selling 6,050 shares during the period. Cambiar Investors LLC owned approximately 0.15% of WEX worth $8,033,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new position in shares of WEX in the fourth quarter valued at $25,000. State of Wyoming bought a new position in shares of WEX in the fourth quarter valued at $35,000. Farther Finance Advisors LLC increased its holdings in shares of WEX by 161.5% in the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after buying an additional 168 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of WEX by 78.1% in the first quarter. GAMMA Investing LLC now owns 440 shares of the business services provider's stock valued at $69,000 after buying an additional 193 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of WEX in the first quarter valued at $201,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at WEX

In related news, CEO Melissa D. Smith purchased 3,721 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were acquired at an average cost of $134.57 per share, with a total value 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. The trade was a 3.82% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ann Elena Drew sold 1,931 shares of the company's 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 transaction, the insider directly owned 7,295 shares in the company, valued at $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. Over the last ninety days, insiders sold 4,206 shares of company stock valued at $665,265. 1.40% of the stock is owned by insiders.

WEX Stock Down 0.8%

NYSE:WEX traded down $1.3760 during trading hours on Tuesday, hitting $171.3040. 344,321 shares of the stock traded hands, compared to its average volume of 502,116. WEX Inc. has a fifty-two week low of $110.45 and a fifty-two week 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. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.62 and a beta of 1.28. The firm has a 50 day moving average price of $157.28 and a 200 day moving average price of $147.75.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WEX. Oppenheimer began coverage on WEX in a report on Thursday, May 15th. They issued a "market perform" rating on the stock. Barclays upped their price target on WEX from $135.00 to $170.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Mizuho boosted their target price on shares of WEX from $150.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. UBS Group boosted 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, Deutsche Bank Aktiengesellschaft started 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. Three equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $181.50.

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.