Natixis Advisors LLC Sells 2,147 Shares of WEX Inc. (NYSE:WEX)

Key Points

• Natixis Advisors LLC has reduced its stake in WEX Inc. by 3.5%, now owning 58,774 shares worth approximately $9.23 million, following a sale of 2,147 shares in the 1st quarter.
• Several institutional investors, including D. E. Shaw & Co. and AQR Capital Management, significantly increased their holdings in WEX, indicating strong institutional interest with 97.47% of stock owned by such investors.
• WEX shares are currently trading at $170.57 with analysts holding an average rating of "Hold" and a consensus price target of $181.50.

Natixis Advisors LLC decreased its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,774 shares of the business services provider's stock after selling 2,147 shares during the period. Natixis Advisors LLC owned about 0.17% of WEX worth $9,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Earnest Partners LLC grew its position in shares of WEX by 1.0% during the 4th quarter. Earnest Partners LLC now owns 872,734 shares of the business services provider's stock valued at $153,008,000 after acquiring an additional 8,780 shares during the period. Dimensional Fund Advisors LP boosted its holdings in WEX by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 602,693 shares of the business services provider's stock worth $105,653,000 after buying an additional 18,331 shares during the period. Northern Trust Corp boosted its holdings in WEX by 16.8% in the 4th quarter. Northern Trust Corp now owns 358,371 shares of the business services provider's stock worth $62,830,000 after buying an additional 51,617 shares during the period. Ariel Investments LLC boosted its holdings in WEX by 113.0% in the 4th quarter. Ariel Investments LLC now owns 318,272 shares of the business services provider's stock worth $55,799,000 after buying an additional 168,832 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in WEX by 1,684.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 201,922 shares of the business services provider's stock worth $35,401,000 after buying an additional 190,605 shares during the period. Institutional investors own 97.47% of the company's stock.

WEX Trading Up 0.8%

WEX stock traded up $1.37 during midday trading on Wednesday, reaching $171.82. The stock had a trading volume of 407,557 shares, compared to its average volume of 722,134. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 3.99. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $217.47. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 1.58 and a beta of 1.28. The company has a fifty day moving average of $150.26 and a 200 day moving average of $148.56.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of WEX in a report on Thursday, July 17th. They issued a "hold" rating and a $150.00 target price for the company. Mizuho boosted their price target on shares of WEX from $150.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. William Blair reiterated a "market perform" rating on shares of WEX in a research note on Friday, July 25th. Barclays boosted their price target on shares of WEX from $135.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Finally, UBS Group boosted their price target on shares of WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $181.50.

Insider Buying and Selling

In related news, CAO Jennifer Kimball sold 1,400 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $131.08, for a total value of $183,512.00. Following the sale, the chief accounting officer directly owned 3,177 shares of the company's stock, valued at $416,441.16. This represents a 30.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Carlos Carriedo sold 875 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $171.68, for a total transaction of $150,220.00. Following the completion of the sale, the chief operating officer directly owned 5,270 shares in the company, valued at $904,753.60. This trade represents a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

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.