Hsbc Holdings PLC Increases Stock Holdings in WEX Inc. $WEX

Key Points

• Hsbc Holdings PLC significantly increased its holdings in WEX Inc. by 20,412.8% during the first quarter, acquiring 635,450 additional shares to reach a total of $99.07 million in assets.
• CEO Melissa D. Smith bought 3,721 shares for approximately $500,735, increasing her ownership in WEX, while COO Carlos Carriedo sold 875 shares for $150,220.
• WEX's stock has seen various analyst rating changes, with Morgan Stanley and Mizuho raising their price targets to $170.00 and $185.00 respectively, while the consensus rating for the company remains a "Hold."

Hsbc Holdings PLC raised its stake in WEX Inc. (NYSE:WEX - Free Report) by 20,412.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 638,563 shares of the business services provider's stock after buying an additional 635,450 shares during the quarter. Hsbc Holdings PLC owned about 1.86% of WEX worth $99,069,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WEX. Isthmus Partners LLC lifted its position in shares of WEX by 5.4% during the first quarter. Isthmus Partners LLC now owns 1,987 shares of the business services provider's stock worth $312,000 after purchasing an additional 101 shares in the last quarter. Cornerstone Investment Partners LLC lifted its position in shares of WEX by 2.9% during the first quarter. Cornerstone Investment Partners LLC now owns 4,705 shares of the business services provider's stock worth $739,000 after purchasing an additional 133 shares in the last quarter. Foyston Gordon & Payne Inc lifted its position in shares of WEX by 0.7% during the fourth quarter. Foyston Gordon & Payne Inc now owns 19,657 shares of the business services provider's stock worth $3,446,000 after purchasing an additional 137 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of WEX by 50.7% during the first quarter. Brooklyn Investment Group now owns 422 shares of the business services provider's stock worth $66,000 after purchasing an additional 142 shares in the last quarter. Finally, Investment Management Corp VA ADV acquired a new stake in shares of WEX during the fourth quarter worth about $25,000. Institutional investors and hedge funds own 97.47% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on WEX shares. Barclays increased their price target on shares of WEX from $135.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of WEX in a research report on Thursday, July 17th. They set a "hold" rating and a $150.00 price target on the stock. Jefferies Financial Group increased their price target on shares of WEX from $130.00 to $135.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. William Blair reissued a "market perform" rating on shares of WEX in a research report on Friday, July 25th. Finally, Robert W. Baird upped their target price on shares of WEX from $186.00 to $198.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $179.82.

Insider Activity at WEX

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

WEX Stock Up 0.3%

WEX stock traded up $0.51 during mid-day trading on Tuesday, hitting $171.34. The company had a trading volume of 40,565 shares, compared to its average volume of 687,905. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.62 and a beta of 1.28. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $217.47. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 3.99. The business has a fifty day moving average of $159.70 and a 200 day moving average of $147.57.

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.