New Age Alpha Advisors LLC Sells 3,364 Shares of WEX Inc. (NYSE:WEX)

Key Points

• New Age Alpha Advisors LLC reduced its holdings in WEX Inc. by 37.3% during Q1, owning 5,647 shares worth $887,000 after selling 3,364 shares.
• Insider transactions include CAO Jennifer Kimball selling 1,400 shares, representing a 30.59% decrease in their position, while CEO Melissa D. Smith acquired 3,721 shares, leading to a 3.82% increase in ownership.
• WEX has a market capitalization of $5.77 billion with a consensus price target of $181.50 from analysts, indicating a cautious outlook on the stock's performance.

New Age Alpha Advisors LLC decreased its holdings in WEX Inc. (NYSE:WEX - Free Report) by 37.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,647 shares of the business services provider's stock after selling 3,364 shares during the quarter. New Age Alpha Advisors LLC's holdings in WEX were worth $887,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. D. E. Shaw & Co. Inc. boosted its position in WEX by 1,684.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 201,922 shares of the business services provider's stock valued at $35,401,000 after acquiring an additional 190,605 shares during the last quarter. Ariel Investments LLC boosted its position in WEX by 113.0% during the fourth quarter. Ariel Investments LLC now owns 318,272 shares of the business services provider's stock valued at $55,799,000 after acquiring an additional 168,832 shares during the last quarter. AQR Capital Management LLC boosted its position in WEX by 5,562.2% during the fourth quarter. AQR Capital Management LLC now owns 151,125 shares of the business services provider's stock valued at $26,117,000 after acquiring an additional 148,456 shares during the last quarter. Invenomic Capital Management LP bought a new stake in WEX during the fourth quarter valued at $16,677,000. Finally, GAMMA Investing LLC raised its holdings in shares of WEX by 27,871.3% during the first quarter. GAMMA Investing LLC now owns 69,089 shares of the business services provider's stock valued at $10,848,000 after purchasing an additional 68,842 shares during the period. Institutional investors own 97.47% of the company's stock.

Insider Activity

In other WEX news, insider Ann Elena Drew sold 1,931 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total value of $331,533.39. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Melissa D. Smith acquired 3,721 shares of WEX stock in a transaction on Thursday, May 29th. The stock was purchased at an average cost of $134.57 per share, with a total value of $500,734.97. Following the completion of the transaction, the chief executive officer directly owned 101,182 shares in the company, valued at $13,616,061.74. This represents a 3.82% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 4,206 shares of company stock valued at $665,265. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley upped their price objective on shares of WEX from $142.00 to $170.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. UBS Group upped their price objective on shares of WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Robert W. Baird upped their price objective on shares of WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Oppenheimer assumed coverage on shares of WEX in a report on Thursday, May 15th. They set a "market perform" rating on the stock. Finally, Barclays upped their price objective on shares of WEX from $135.00 to $170.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $181.50.

WEX Stock Up 2.3%

WEX stock traded up $3.91 during trading on Tuesday, reaching $171.02. The stock had a trading volume of 315,847 shares, compared to its average volume of 712,176. WEX Inc. has a one year low of $110.45 and a one 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 company's 50 day moving average is $153.09 and its two-hundred day moving average is $147.94. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 1.58 and a beta of 1.28.

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.