WEX Inc. $WEX Shares Purchased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly increased its stake in WEX Inc. by 678.9% during the first quarter, bringing its total shares to 103,926 worth approximately $16.32 million.
• Institutional investors and hedge funds currently own 97.47% of WEX, indicating strong interest from larger investment firms.
• WEX Inc.'s stock is trading at around $174.10 with a market capitalization of $5.96 billion, and its average price target by analysts is $181.50.

Quantbot Technologies LP increased its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 678.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,926 shares of the business services provider's stock after buying an additional 90,584 shares during the quarter. WEX comprises approximately 0.5% of Quantbot Technologies LP's investment portfolio, making the stock its 18th biggest holding. Quantbot Technologies LP owned 0.30% of WEX worth $16,318,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WEX. Investment Management Corp VA ADV purchased a new stake in shares of WEX during the fourth quarter valued at $25,000. State of Wyoming purchased a new stake in shares of WEX during the fourth quarter valued at $35,000. Farther Finance Advisors LLC grew its holdings in shares of WEX by 161.5% during the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after buying an additional 168 shares during the last quarter. Brooklyn Investment Group grew its holdings 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 valued at $66,000 after buying an additional 142 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in WEX by 78.1% during the first quarter. GAMMA Investing LLC now owns 440 shares of the business services provider's stock valued at $69,000 after purchasing an additional 193 shares during the period. 97.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other WEX news, CAO Jennifer Kimball sold 1,400 shares of the company's 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 completion of the transaction, the chief accounting officer owned 3,177 shares in the company, valued at approximately $416,441.16. This represents a 30.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Melissa D. Smith acquired 3,721 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was purchased at an average price of $134.57 per share, with a total value of $500,734.97. Following the transaction, the chief executive officer owned 101,182 shares of the company's stock, valued at approximately $13,616,061.74. This trade represents a 3.82% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 4,206 shares of company stock worth $665,265. 1.40% of the stock is currently owned by insiders.

WEX Price Performance

Shares of WEX stock traded up $3.5030 during trading hours on Friday, reaching $173.1130. The stock had a trading volume of 299,895 shares, compared to its average volume of 694,232. The stock's 50 day moving average is $158.43 and its 200 day moving average is $147.81. The firm has a market capitalization of $5.93 billion, a PE ratio of 21.89, a PEG ratio of 1.58 and a beta of 1.28. WEX Inc. has a twelve month low of $110.45 and a twelve month high of $217.47. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99.

Wall Street Analyst Weigh In

WEX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of WEX in a research report on Thursday, July 17th. They set a "hold" rating and a $150.00 target price for the company. Jefferies Financial Group boosted their target price on shares of WEX from $130.00 to $135.00 and gave the company a "hold" rating in a research report on Tuesday, May 27th. Mizuho boosted their target price on shares of WEX from $150.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Morgan Stanley boosted their target price 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. Finally, Oppenheimer initiated coverage on shares of WEX in a research report on Thursday, May 15th. They set a "market perform" rating for the company. Three analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, WEX currently has an average rating of "Hold" and a consensus target price of $179.82.

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.