UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Trims Position in WEX Inc. $WEX

Key Points

• UBS AM reduced its position in WEX Inc. by 2.0%, selling 3,800 shares, and now owns approximately 0.56% of the company valued at nearly $29.9 million.
• Several hedge funds have recently initiated positions or increased their holdings in WEX, with Goldman Sachs boosting its stake by 158.3% to own over 350,000 shares worth about $55 million.
• Wall Street analysts have mixed ratings for WEX, with a consensus "Hold" rating and a price target averaging $179.82; significant price target adjustments recently came from firms like Jefferies and Barclays.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lessened its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 190,171 shares of the business services provider's stock after selling 3,800 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.56% of WEX worth $29,861,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of WEX by 1.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 59,053 shares of the business services provider's stock valued at $9,272,000 after buying an additional 578 shares during the period. GAMMA Investing LLC increased its holdings in WEX by 27,871.3% in the 1st 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 last quarter. Cerity Partners LLC increased its holdings in WEX by 88.5% in the 1st quarter. Cerity Partners LLC now owns 10,002 shares of the business services provider's stock valued at $1,571,000 after purchasing an additional 4,695 shares during the last quarter. Optimize Financial Inc acquired a new stake in WEX in the 1st quarter valued at approximately $389,000. Finally, United Services Automobile Association acquired a new stake in WEX in the 1st quarter valued at approximately $400,000. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Stock Performance

NYSE WEX traded down $5.18 during trading hours on Friday, hitting $163.16. The company had a trading volume of 290,884 shares, compared to its average volume of 655,327. 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 1-year low of $110.45 and a 1-year high of $217.47. The company has a market cap of $5.59 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31. The business has a 50 day moving average of $168.33 and a 200-day moving average of $149.70.

Insider Buying and Selling at WEX

In other WEX news, insider Ann Elena Drew sold 1,931 shares of the company's stock in a transaction 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 completion of the transaction, the insider owned 7,295 shares in the company, valued at $1,252,478.55. This represents a 20.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Carlos Carriedo sold 875 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $171.68, for a total transaction of $150,220.00. Following the completion of the transaction, the chief operating officer owned 5,270 shares of the company's stock, valued at $904,753.60. This represents a 14.24% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WEX shares. Zacks Research downgraded shares of WEX from a "strong-buy" rating to a "hold" rating in a report on Monday. Jefferies Financial Group lifted their target price on shares of WEX from $130.00 to $135.00 and gave the company a "hold" rating in a report on Tuesday, May 27th. William Blair reiterated a "market perform" rating on shares of WEX in a report on Friday, July 25th. UBS Group lifted their target price on shares of WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, 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. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, WEX presently has an average rating of "Hold" and a consensus target price of $179.82.

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.