DRW Securities LLC Buys New Shares in WEX Inc. $WEX

Key Points

• DRW Securities LLC has acquired a new position in WEX Inc., investing approximately $239,000 for 1,523 shares during the first quarter, as reported in their Form 13F filing with the SEC.
• WEX stock is currently priced at $171.54 with a market cap of $5.88 billion, while its price-to-earnings ratio stands at 21.69.
• A variety of institutional investors have recently increased their stakes in WEX, with notable changes including Hsbc Holdings PLC's massive 20,412.8% increase in holdings during the same period.

DRW Securities LLC purchased a new stake in shares of WEX Inc. (NYSE:WEX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,523 shares of the business services provider's stock, valued at approximately $239,000.

Other hedge funds also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new stake in WEX during the 4th quarter valued at $25,000. State of Wyoming bought a new position in shares of WEX during the fourth quarter valued at $35,000. Farther Finance Advisors LLC lifted its holdings in shares of WEX by 161.5% during the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after purchasing an additional 168 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of WEX during the first quarter valued at $49,000. Finally, Brooklyn Investment Group increased its holdings 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 buying an additional 142 shares in the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WEX has been the topic of several research analyst reports. 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of WEX in a report on Thursday, July 17th. They set a "hold" rating and a $150.00 price objective for the company. Jefferies Financial Group increased their price objective on shares of WEX from $130.00 to $135.00 and gave the company a "hold" rating in a research report on Tuesday, May 27th. Morgan Stanley lifted their target price on shares of WEX from $142.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Finally, Robert W. Baird boosted their target price on shares of WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat, WEX currently has a consensus rating of "Hold" and an average target price of $179.82.

Insider Buying and Selling at WEX

In other WEX news, COO Carlos Carriedo sold 875 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $171.68, for a total transaction of $150,220.00. Following the completion of the sale, the chief operating officer owned 5,270 shares of the company's stock, valued at approximately $904,753.60. The trade was a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ann Elena Drew sold 1,931 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $171.69, for a total value of $331,533.39. Following the completion of the sale, the insider owned 7,295 shares of the company's stock, valued at approximately $1,252,478.55. The trade was a 20.93% decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

WEX Stock Performance

Shares of WEX stock traded down $2.08 during mid-day trading on Friday, reaching $171.28. 328,810 shares of the company's stock traded hands, compared to its average volume of 322,840. WEX Inc. has a 12 month low of $110.45 and a 12 month high of $217.47. The firm has a 50 day moving average price of $164.71 and a two-hundred day moving average price of $148.60. 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 has a market capitalization of $5.87 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 1.60 and a beta of 1.31.

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.