1,523 Shares in WEX Inc. $WEX Purchased by DRW Securities LLC

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 acquired a new position in shares of WEX Inc. (NYSE:WEX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,523 shares of the business services provider's stock, valued at approximately $239,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC raised its stake in WEX by 20,412.8% in the 1st quarter. Hsbc Holdings PLC now owns 638,563 shares of the business services provider's stock worth $99,069,000 after purchasing an additional 635,450 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in WEX by 1,684.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 201,922 shares of the business services provider's stock valued at $35,401,000 after acquiring an additional 190,605 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in WEX by 79.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 381,767 shares of the business services provider's stock valued at $59,945,000 after purchasing an additional 169,137 shares during the period. Jane Street Group LLC raised its position in shares of WEX by 399.9% in the 1st quarter. Jane Street Group LLC now owns 210,707 shares of the business services provider's stock worth $33,085,000 after acquiring an additional 168,558 shares in the last quarter. Finally, Sunriver Management LLC lifted its position in shares of WEX by 75.9% during the 1st quarter. Sunriver Management LLC now owns 314,069 shares of the business services provider's stock valued at $49,315,000 after acquiring an additional 135,490 shares during the period. Institutional investors own 97.47% of the company's stock.

Insiders Place Their Bets

In other news, insider Ann Elena Drew sold 1,931 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $171.69, for a total transaction of $331,533.39. Following the sale, the insider owned 7,295 shares in the company, valued at approximately $1,252,478.55. The trade was a 20.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Carlos Carriedo sold 875 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $171.68, for a total transaction of $150,220.00. Following the sale, the chief operating officer directly owned 5,270 shares in the company, valued at $904,753.60. This trade represents a 14.24% 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.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Barclays lifted their target price on WEX from $135.00 to $170.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Oppenheimer started coverage on shares of WEX in a report on Thursday, May 15th. They set a "market perform" rating on the stock. Mizuho increased their price objective 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 price objective on WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Morgan Stanley lifted their target price on WEX from $142.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Three analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, WEX currently has an average rating of "Hold" and an average target price of $179.82.

WEX Stock Down 1.2%

Shares of WEX stock traded down $2.08 during trading on Friday, hitting $171.28. The company's stock had a trading volume of 328,810 shares, compared to its average volume of 675,191. The company has a fifty day simple moving average of $164.23 and a two-hundred day simple moving average of $148.59. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $217.47. The company has a market capitalization of $5.87 billion, a PE ratio of 21.65, a P/E/G ratio of 1.56 and a beta of 1.31. The company has a debt-to-equity ratio of 3.99, a quick ratio of 1.04 and a current ratio of 1.04.

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.