Charles Schwab Investment Management Inc. Has $48.36 Million Position in WEX Inc. (NYSE:WEX)

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in WEX Inc. by 2.8%, now owning 307,961 shares valued at approximately $48.36 million.
• Several institutional investors have increased their stakes in WEX, with notable boosts from D. E. Shaw & Co. by 1,684.2% and Ariel Investments by 113.0% during the last quarter.
• The stock has a current price of $174.10, with analysts giving it a consensus rating of "Hold" and a price target of approximately $181.50.

Charles Schwab Investment Management Inc. reduced its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 307,961 shares of the business services provider's stock after selling 8,721 shares during the period. Charles Schwab Investment Management Inc. owned 0.90% of WEX worth $48,356,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Earnest Partners LLC grew its holdings in WEX by 1.0% during the 4th quarter. Earnest Partners LLC now owns 872,734 shares of the business services provider's stock worth $153,008,000 after acquiring an additional 8,780 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of WEX by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 602,693 shares of the business services provider's stock worth $105,653,000 after purchasing an additional 18,331 shares in the last quarter. Northern Trust Corp boosted its position in shares of WEX by 16.8% during the 4th quarter. Northern Trust Corp now owns 358,371 shares of the business services provider's stock worth $62,830,000 after purchasing an additional 51,617 shares in the last quarter. Ariel Investments LLC boosted its position in shares of WEX by 113.0% during the 4th quarter. Ariel Investments LLC now owns 318,272 shares of the business services provider's stock worth $55,799,000 after purchasing an additional 168,832 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of WEX by 1,684.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 201,922 shares of the business services provider's stock worth $35,401,000 after purchasing an additional 190,605 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other WEX news, CAO Jennifer Kimball sold 1,400 shares of WEX stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $131.08, for a total transaction of $183,512.00. Following the transaction, the chief accounting officer owned 3,177 shares of the company's stock, valued at $416,441.16. This trade represents a 30.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Melissa D. Smith bought 3,721 shares of the company's stock in a transaction on Thursday, May 29th. The shares were purchased 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 approximately $13,616,061.74. This represents a 3.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 4,206 shares of company stock worth $665,265 in the last quarter. 1.40% of the stock is owned by corporate insiders.

WEX Price Performance

Shares of NYSE WEX opened at $174.10 on Friday. WEX Inc. has a fifty-two week low of $110.45 and a fifty-two week high of $217.47. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.64 and a beta of 1.28. 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 firm's 50-day simple moving average is $156.02 and its 200 day simple moving average is $147.94.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of WEX in a research report on Thursday, July 17th. They set a "hold" rating and a $150.00 price objective on the stock. Mizuho increased 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. Robert W. Baird increased their price objective on shares of WEX from $186.00 to $198.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Oppenheimer assumed coverage on shares of WEX in a research report on Thursday, May 15th. They set a "market perform" rating on the stock. Finally, UBS Group increased their price objective on shares of WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target 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.

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