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

Several other institutional investors and hedge funds have also recently modified their holdings of WEX. D. E. Shaw & Co. Inc. raised 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 valued at $35,401,000 after purchasing an additional 190,605 shares during the period. Ariel Investments LLC raised 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 purchasing an additional 168,832 shares during the period. AQR Capital Management LLC raised its position in shares of WEX by 5,562.2% during the 4th quarter. AQR Capital Management LLC now owns 151,125 shares of the business services provider's stock valued at $26,117,000 after purchasing an additional 148,456 shares during the period. Nuveen LLC bought a new stake in shares of WEX during the 1st quarter valued at $18,783,000. Finally, Invenomic Capital Management LP bought a new stake in shares of WEX during the 4th quarter valued at $16,677,000. 97.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WEX shares. Mizuho raised their price objective on shares of WEX from $150.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Wells Fargo & Company reduced their price target on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group lifted their price target on shares of WEX from $130.00 to $135.00 and gave the company a "hold" rating in a report on Tuesday, May 27th. Oppenheimer initiated coverage on shares of WEX in a report on Thursday, May 15th. They issued a "market perform" rating on the stock. Finally, UBS Group lifted their price target on shares of WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $179.82.

WEX Trading Up 2.5%

NYSE:WEX traded up $4.2150 during mid-day trading on Friday, hitting $173.8250. 93,328 shares of the stock traded hands, compared to its average volume of 693,052. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.58 and a beta of 1.28. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $217.47. The firm's 50 day moving average is $158.43 and its two-hundred day moving average is $147.81. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 3.99.

Insider Activity

In other news, CEO Melissa D. Smith purchased 3,721 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were bought at an average cost of $134.57 per share, for a total transaction of $500,734.97. Following the acquisition, the chief executive officer owned 101,182 shares of the company's stock, valued at approximately $13,616,061.74. This trade represents a 3.82% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Carlos Carriedo sold 875 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $171.68, for a total transaction of $150,220.00. Following the transaction, the chief operating officer owned 5,270 shares in the company, valued at $904,753.60. The trade was a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,206 shares of company stock valued at $665,265. 1.40% of the stock is currently owned by company insiders.

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.