WEX Inc. (NYSE:WEX) Shares Purchased by Factorial Partners LLC

Key Points

• Factorial Partners LLC significantly increased its stake in WEX Inc. by buying an additional 13,200 shares, bringing its total ownership to 24,600 shares, which represents about 2.4% of the firm's holdings.
• CEO Melissa D. Smith purchased 3,721 shares of WEX stock at an average price of $134.57, increasing her ownership by 3.82%.
• Research analysts have positive outlooks for WEX, with price targets lifted by several firms and an average rating of "Hold" with a price target of $181.50.

Factorial Partners LLC grew its holdings in WEX Inc. (NYSE:WEX - Free Report) by 115.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,600 shares of the business services provider's stock after acquiring an additional 13,200 shares during the period. WEX comprises 2.4% of Factorial Partners LLC's holdings, making the stock its 18th biggest position. Factorial Partners LLC owned about 0.07% of WEX worth $3,863,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. D. E. Shaw & Co. Inc. increased its stake in shares of WEX by 1,684.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 201,922 shares of the business services provider's stock valued at $35,401,000 after purchasing an additional 190,605 shares in the last quarter. Ariel Investments LLC lifted 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 valued at $55,799,000 after buying an additional 168,832 shares in the last quarter. AQR Capital Management LLC increased its holdings in WEX by 5,562.2% in the 4th quarter. AQR Capital Management LLC now owns 151,125 shares of the business services provider's stock worth $26,117,000 after acquiring an additional 148,456 shares in the last quarter. Invenomic Capital Management LP acquired a new position in WEX during the fourth quarter worth $16,677,000. Finally, GAMMA Investing LLC lifted its holdings in WEX by 27,871.3% during the first quarter. GAMMA Investing LLC now owns 69,089 shares of the business services provider's stock valued at $10,848,000 after purchasing an additional 68,842 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.

Insiders Place Their Bets

In other news, COO Carlos Carriedo sold 875 shares of WEX 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 completion of the transaction, the chief operating officer owned 5,270 shares of the company's stock, valued at $904,753.60. The trade was a 14.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the insider owned 7,295 shares in the company, valued at $1,252,478.55. This represents a 20.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,206 shares of company stock worth $665,265 in the last ninety days. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on WEX shares. 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 note on Friday, July 25th. Oppenheimer assumed coverage on shares of WEX in a research report on Thursday, May 15th. They set a "market perform" rating on the stock. William Blair reissued a "market perform" rating on shares of WEX in a research note on Friday, July 25th. Robert W. Baird upped their price target on WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Barclays increased 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. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, WEX has an average rating of "Hold" and a consensus price target of $181.50.

WEX Stock Performance

Shares of WEX stock traded down $1.44 during trading hours on Friday, hitting $168.38. 348,993 shares of the company were exchanged, compared to its average volume of 717,675. 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 stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 1.61 and a beta of 1.28. The business has a 50-day moving average of $151.68 and a 200-day moving average of $148.62. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $217.47.

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.