Vanguard Group Inc. Has $508.82 Million Holdings in WEX Inc. (NYSE:WEX)

Vanguard Group Inc. reduced its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,240,495 shares of the business services provider's stock after selling 537,470 shares during the quarter. Vanguard Group Inc. owned 9.46% of WEX worth $508,823,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WEX. Russell Investments Group Ltd. increased its holdings in WEX by 172.4% in the 4th quarter. Russell Investments Group Ltd. now owns 6,623 shares of the business services provider's stock valued at $1,161,000 after buying an additional 4,192 shares during the period. Cerity Partners LLC increased its holdings in WEX by 57.4% in the 4th quarter. Cerity Partners LLC now owns 5,307 shares of the business services provider's stock valued at $1,012,000 after buying an additional 1,935 shares during the period. Sterling Capital Management LLC increased its holdings in WEX by 45.1% in the 4th quarter. Sterling Capital Management LLC now owns 2,198 shares of the business services provider's stock valued at $385,000 after buying an additional 683 shares during the period. Barclays PLC increased its holdings in WEX by 58.2% in the 4th quarter. Barclays PLC now owns 34,061 shares of the business services provider's stock valued at $5,972,000 after buying an additional 12,526 shares during the period. Finally, PEAK6 LLC bought a new stake in WEX in the 4th quarter valued at $773,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at WEX

In other WEX news, insider Ann Elena Drew sold 1,931 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total transaction of $331,533.39. Following the sale, the insider owned 7,295 shares of the company's stock, valued at $1,252,478.55. This represents a 20.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Melissa D. Smith acquired 3,721 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were bought at an average cost of $134.57 per share, for a total transaction of $500,734.97. Following the acquisition, the chief executive officer owned 101,182 shares in the company, valued at approximately $13,616,061.74. The trade was a 3.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 4,206 shares of company stock worth $665,265 in the last quarter. Insiders own 1.40% of the company's stock.

WEX Price Performance

NYSE:WEX traded down $1.03 during mid-day trading on Friday, reaching $174.10. 347,355 shares of the company were exchanged, compared to its average volume of 510,112. WEX Inc. has a 12 month low of $110.45 and a 12 month high of $217.47. The company has a fifty day moving average of $156.02 and a 200 day moving average of $147.94. 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 stock has a market cap of $5.96 billion, a PE ratio of 22.01, a PEG ratio of 1.64 and a beta of 1.28.

Wall Street Analyst Weigh In

WEX has been the topic of several analyst reports. Mizuho boosted their price target on shares of WEX from $150.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Morgan Stanley boosted their price target 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. Jefferies Financial Group boosted their price target on shares of WEX from $130.00 to $135.00 and gave the company a "hold" rating in a report on Tuesday, May 27th. 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 on the stock. Finally, William Blair reaffirmed a "market perform" rating on shares of WEX in a report on Friday, July 25th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, WEX has an average rating of "Hold" and an average price target of $181.50.

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.