WEX Inc. $WEX Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in WEX Inc. by 191.2%, now owning 19,284 shares valued at approximately $3.03 million.
• CEO Melissa D. Smith purchased 3,721 shares of WEX, increasing her ownership to 101,182 shares, while insider Ann Elena Drew sold 1,931 shares in a separate transaction.
• WEX currently has a consensus rating of "Hold" among analysts, with price targets ranging from $150 to $185 per share.

Russell Investments Group Ltd. raised its position in WEX Inc. (NYSE:WEX - Free Report) by 191.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 19,284 shares of the business services provider's stock after purchasing an additional 12,661 shares during the period. Russell Investments Group Ltd. owned 0.06% of WEX worth $3,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board purchased a new position in WEX in the 1st quarter valued at $6,307,000. Nuveen LLC purchased a new position in shares of WEX during the 1st quarter worth $18,783,000. Aigen Investment Management LP purchased a new position in shares of WEX during the 1st quarter worth $1,806,000. Entropy Technologies LP raised its holdings in shares of WEX by 571.3% during the 1st quarter. Entropy Technologies LP now owns 23,494 shares of the business services provider's stock worth $3,689,000 after acquiring an additional 19,994 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of WEX by 29.6% during the 1st quarter. Invesco Ltd. now owns 80,639 shares of the business services provider's stock worth $12,662,000 after acquiring an additional 18,399 shares during the period. Hedge funds and other institutional investors own 97.47% of the company's stock.

Analyst Ratings Changes

WEX has been the topic of several analyst reports. Mizuho lifted their price target on WEX from $150.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Oppenheimer initiated coverage on WEX in a report on Thursday, May 15th. They set a "market perform" rating on the stock. Robert W. Baird lifted their price target on WEX from $186.00 to $198.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. William Blair reiterated a "market perform" rating on shares of WEX in a report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on WEX in a report on Thursday, July 17th. They set a "hold" rating and a $150.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $179.82.

Insider Buying and Selling at WEX

In other WEX news, CAO Jennifer Kimball sold 1,400 shares of WEX stock in a transaction dated Monday, June 2nd. The stock was 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 directly owned 3,177 shares of the company's stock, valued at $416,441.16. The trade was a 30.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 4,206 shares of company stock valued at $665,265 in the last three months. 1.40% of the stock is owned by corporate insiders.

WEX Trading Down 1.3%

Shares of NYSE:WEX traded down $2.24 during midday trading on Thursday, reaching $170.72. 245,919 shares of the company's stock were exchanged, compared to its average volume of 685,214. The firm's 50 day simple moving average is $160.96 and its two-hundred day simple moving average is $147.91. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.60 and a beta of 1.28. WEX Inc. has a fifty-two week low of $110.45 and a fifty-two week high of $217.47.

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.