Gotham Asset Management LLC Has $11.78 Million Stock Holdings in WEX Inc. $WEX

Key Points

• Gotham Asset Management LLC reduced its stake in WEX Inc. by 28.5%, owning 75,010 shares worth approximately $11.78 million as of the latest reporting period.
• Hsbc Holdings PLC significantly increased its position in WEX by 20,412.8%, acquiring 638,563 shares valued at about $99 million during the same quarter.
• Analyst ratings show a consensus rating of "Hold" for WEX, with an average price target set at $179.82.

Gotham Asset Management LLC decreased its stake in WEX Inc. (NYSE:WEX - Free Report) by 28.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,010 shares of the business services provider's stock after selling 29,888 shares during the period. Gotham Asset Management LLC owned 0.22% of WEX worth $11,778,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Investment Management Corp VA ADV bought a new stake in shares of WEX in the 4th quarter worth approximately $25,000. State of Wyoming acquired a new stake in WEX in the 4th quarter valued at approximately $35,000. Farther Finance Advisors LLC increased its position in WEX by 161.5% in the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after acquiring an additional 168 shares during the period. Quarry LP acquired a new stake in WEX in the 1st quarter valued at approximately $44,000. Finally, SVB Wealth LLC acquired a new stake in WEX in the 1st quarter valued at approximately $49,000. Institutional investors own 97.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WEX shares. UBS Group raised their target price on WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Robert W. Baird raised their target price on WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. William Blair restated a "market perform" rating on shares of WEX in a research report on Friday, July 25th. Barclays lifted their price target on WEX from $135.00 to $170.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Finally, Oppenheimer assumed coverage on WEX in a research report on Thursday, May 15th. They set a "market perform" rating on the stock. Three research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $179.82.

WEX Price Performance

Shares of NYSE WEX traded up $0.10 during mid-day trading on Tuesday, reaching $172.58. The company had a trading volume of 259,889 shares, compared to its average volume of 322,523. 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 cap of $5.91 billion, a PE ratio of 21.82, a P/E/G ratio of 1.61 and a beta of 1.31. The company has a 50-day moving average price of $165.66 and a two-hundred day moving average price of $148.92. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $217.47.

Insiders Place Their Bets

In related news, insider Ann Elena Drew sold 1,931 shares of WEX stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $171.69, for a total value of $331,533.39. Following the transaction, the insider directly owned 7,295 shares in the company, valued at $1,252,478.55. The trade was a 20.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $150,220.00. Following the completion of 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. Insiders own 1.40% of the company's stock.

About WEX

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.