Ieq Capital LLC Sells 11,443 Shares of WEX Inc. $WEX

Key Points

• Ieq Capital LLC reduced its stake in WEX Inc. by 78.1%, now holding 3,214 shares valued at approximately $505,000, according to a recent SEC filing.
• Multiple institutional investors have increased their holdings in WEX, with Hsbc Holdings PLC boosting its stake by 140.4% to own shares worth $547,000.
• Analyst ratings for WEX show a consensus average rating of "Hold", with a price target of $179.82, indicating cautious optimism among analysts.

Ieq Capital LLC lessened its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 78.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,214 shares of the business services provider's stock after selling 11,443 shares during the quarter. Ieq Capital LLC's holdings in WEX were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WEX. Investment Management Corp VA ADV acquired a new stake in shares of WEX during the fourth quarter worth $25,000. State of Wyoming acquired a new position in shares of WEX during the fourth quarter worth approximately $35,000. Farther Finance Advisors LLC grew its holdings in WEX by 161.5% during the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock worth $44,000 after buying an additional 168 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of WEX in the 1st quarter valued at about $49,000. Finally, Brooklyn Investment Group lifted its stake in shares of WEX by 50.7% in the 1st quarter. Brooklyn Investment Group now owns 422 shares of the business services provider's stock valued at $66,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 97.47% of the company's stock.

Insider Buying and Selling

In related news, COO Carlos Carriedo sold 875 shares of the stock in a transaction that occurred 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 sale, the chief operating officer owned 5,270 shares of the company's stock, valued at approximately $904,753.60. This trade represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ann Elena Drew sold 1,931 shares of the company'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 sale, the insider directly owned 7,295 shares of the company's stock, valued at approximately $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. Corporate insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on WEX shares. Oppenheimer began coverage on WEX in a research note on Thursday, May 15th. They issued a "market perform" rating on the stock. Morgan Stanley raised their price objective on shares of WEX from $142.00 to $170.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Robert W. Baird lifted their target price on shares of WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Jefferies Financial Group upped their price target on shares of WEX from $130.00 to $135.00 and gave the stock a "hold" rating in a research note on Tuesday, May 27th. Finally, UBS Group raised their target price on shares of WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, WEX currently has a consensus rating of "Hold" and an average target price of $179.82.

WEX Stock Performance

Shares of NYSE:WEX traded up $0.86 during midday trading on Monday, reaching $172.05. 112,988 shares of the company's stock traded hands, compared to its average volume of 671,823. The company has a debt-to-equity ratio of 3.99, a quick ratio of 1.04 and a current ratio of 1.04. WEX Inc. has a one year low of $110.45 and a one year high of $217.47. The stock has a 50 day moving average of $164.71 and a 200 day moving average of $148.60. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 1.60 and a beta of 1.31.

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.