Foyston Gordon & Payne Inc Acquires 1,571 Shares of WEX Inc. $WEX

Key Points

• Foyston Gordon & Payne Inc increased its stake in WEX Inc. by 8.0%, now owning approximately $3.33 million worth of the company's stock, which constitutes about 0.06% of WEX.
• Several institutional investors have recently adjusted their holdings in WEX, with some acquiring new positions and others significantly increasing their stakes, signaling growing interest in the company.
• WEX shares received upgraded price targets from multiple analysts, with Mizuho increasing its target from $150.00 to $185.00, reflecting positive market sentiment for the company's stock performance.

Foyston Gordon & Payne Inc lifted its stake in WEX Inc. (NYSE:WEX - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,228 shares of the business services provider's stock after purchasing an additional 1,571 shares during the quarter. Foyston Gordon & Payne Inc owned 0.06% of WEX worth $3,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of WEX. Russell Investments Group Ltd. raised its position in WEX by 172.4% in the 4th quarter. Russell Investments Group Ltd. now owns 6,623 shares of the business services provider's stock worth $1,161,000 after buying an additional 4,192 shares during the last quarter. Cerity Partners LLC raised its position in WEX by 57.4% in the 4th quarter. Cerity Partners LLC now owns 5,307 shares of the business services provider's stock worth $1,012,000 after buying an additional 1,935 shares during the last quarter. Sterling Capital Management LLC raised its position in WEX by 45.1% in the 4th quarter. Sterling Capital Management LLC now owns 2,198 shares of the business services provider's stock worth $385,000 after buying an additional 683 shares during the last quarter. Barclays PLC raised its position in WEX by 58.2% in the 4th quarter. Barclays PLC now owns 34,061 shares of the business services provider's stock worth $5,972,000 after buying an additional 12,526 shares during the last quarter. Finally, PEAK6 LLC purchased a new position in WEX in the 4th quarter worth about $773,000. Hedge funds and other institutional investors own 97.47% of the company's stock.

Insider Buying and Selling

In related news, CAO Jennifer Kimball sold 1,400 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $131.08, for a total transaction of $183,512.00. Following the completion of the transaction, the chief accounting officer directly owned 3,177 shares in the company, valued at approximately $416,441.16. The trade was a 30.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ann Elena Drew sold 1,931 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total value of $331,533.39. Following the transaction, the insider owned 7,295 shares of the company's stock, valued at approximately $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. In the last quarter, insiders have sold 4,206 shares of company stock valued at $665,265. Insiders own 1.40% of the company's stock.

WEX Stock Performance

Shares of NYSE:WEX traded down $1.3760 during mid-day trading on Tuesday, reaching $171.3040. 344,321 shares of the company traded hands, compared to its average volume of 502,116. The company's 50 day moving average price is $157.28 and its 200-day moving average price is $147.75. The firm has a market cap of $5.87 billion, a PE ratio of 21.66, a PEG ratio of 1.62 and a beta of 1.28. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.04 and a quick ratio of 1.04. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $217.47.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WEX. Oppenheimer began coverage on WEX in a research report on Thursday, May 15th. They issued a "market perform" rating for the company. William Blair reissued a "market perform" rating on shares of WEX in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft began coverage on WEX in a research report on Thursday, July 17th. They issued a "hold" rating and a $150.00 target price for the company. UBS Group boosted their target price on WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Robert W. Baird boosted their target price on WEX from $186.00 to $198.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, WEX has a consensus rating of "Hold" and an average target price 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.