Verdence Capital Advisors LLC Purchases 4,601 Shares of WEX Inc. $WEX

Key Points

• Verdence Capital Advisors LLC increased its position in WEX Inc. by 14.9%, acquiring an additional 4,601 shares in the second quarter to hold a total of 35,442 shares valued at $5,206,000.
• Insider Ann Elena Drew sold 1,931 shares of WEX stock, decreasing her ownership by 20.93%, while COO Carlos Carriedo also sold 875 shares, reducing his stake by 14.24%.
• Securities analysts have issued a mixed outlook on WEX, with three Buy ratings and thirteen Hold ratings, resulting in a consensus target price of $180.91.

Verdence Capital Advisors LLC increased its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 14.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,442 shares of the business services provider's stock after buying an additional 4,601 shares during the period. Verdence Capital Advisors LLC owned 0.10% of WEX worth $5,206,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in WEX by 282.1% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 214 shares of the business services provider's stock worth $31,000 after buying an additional 158 shares during the last quarter. Farther Finance Advisors LLC raised its stake in WEX by 161.5% during the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock worth $44,000 after buying an additional 168 shares during the last quarter. Quarry LP bought a new position in WEX during the first quarter worth $44,000. SVB Wealth LLC bought a new position in WEX during the first quarter worth $49,000. Finally, UMB Bank n.a. raised its stake in WEX by 22.1% during the second quarter. UMB Bank n.a. now owns 376 shares of the business services provider's stock worth $55,000 after buying an additional 68 shares during the last quarter. Institutional investors own 97.47% of the company's stock.

Insider Transactions at WEX

In other news, insider Ann Elena Drew sold 1,931 shares of WEX 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 completion of the transaction, the insider directly owned 7,295 shares in the company, valued at $1,252,478.55. This trade represents a 20.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Carlos Carriedo sold 875 shares of WEX stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $171.68, for a total transaction of $150,220.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of WEX in a research note on Thursday, July 17th. They set a "hold" rating and a $150.00 target price for the company. William Blair restated a "market perform" rating on shares of WEX in a report on Friday, July 25th. Barclays raised their price target on shares of WEX from $135.00 to $170.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Robert W. Baird raised their price target on shares of WEX from $198.00 to $210.00 and gave the stock an "outperform" rating in a report on Wednesday, October 1st. Finally, Morgan Stanley raised their price target on shares of WEX from $142.00 to $170.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Three equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $180.91.

WEX Stock Down 4.0%

Shares of NYSE WEX opened at $150.49 on Monday. The stock has a market capitalization of $5.16 billion, a P/E ratio of 19.03, a P/E/G ratio of 1.40 and a beta of 1.26. The company has a 50-day moving average price of $167.32 and a 200-day moving average price of $150.08. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $217.47. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.04 and a quick ratio of 1.04.

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.

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