WEX Inc. (NYSE:WEX) Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reduced its holdings in WEX Inc. by 47.8%, owning approximately 3.12% of the company after selling nearly a million shares during the first quarter.
• Analysts have mixed price targets for WEX, with UBS Group raising its target from $138 to $185, while Wells Fargo decreased it from $160 to $140, leading to a consensus hold rating on the stock.
• Insider sales totaled 4,206 shares valued at $665,265 over the past three months, indicating significant movements within the company's leadership regarding stock ownership.

JPMorgan Chase & Co. decreased its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 47.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,068,104 shares of the business services provider's stock after selling 978,510 shares during the quarter. JPMorgan Chase & Co. owned about 3.12% of WEX worth $167,714,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Townsquare Capital LLC boosted its holdings in shares of WEX by 5.4% during the first quarter. Townsquare Capital LLC now owns 4,102 shares of the business services provider's stock worth $644,000 after purchasing an additional 212 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in WEX during the first quarter valued at about $2,460,000. Factorial Partners LLC grew its position in WEX by 115.8% during the first quarter. Factorial Partners LLC now owns 24,600 shares of the business services provider's stock valued at $3,863,000 after acquiring an additional 13,200 shares during the period. R Squared Ltd grew its position in WEX by 3,180.0% during the first quarter. R Squared Ltd now owns 1,640 shares of the business services provider's stock valued at $258,000 after acquiring an additional 1,590 shares during the period. Finally, Clark Estates Inc. NY grew its position in WEX by 8.4% during the first quarter. Clark Estates Inc. NY now owns 13,300 shares of the business services provider's stock valued at $2,088,000 after acquiring an additional 1,036 shares during the period. Institutional investors and hedge funds own 97.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WEX shares. Morgan Stanley boosted their price target on WEX from $142.00 to $170.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Jefferies Financial Group upped their target price on WEX from $130.00 to $135.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. Wells Fargo & Company decreased their target price on WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. William Blair reiterated a "market perform" rating on shares of WEX in a research note on Friday, July 25th. Finally, UBS Group boosted their price target on WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $181.50.

Insider Transactions at WEX

In related news, COO Carlos Carriedo sold 875 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $171.68, for a total value of $150,220.00. Following the completion of the sale, the chief operating officer directly owned 5,270 shares of the company's stock, valued at $904,753.60. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ann Elena Drew sold 1,931 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 7,295 shares of the company's stock, valued at $1,252,478.55. This trade represents a 20.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,206 shares of company stock valued at $665,265 in the last three months. Corporate insiders own 1.40% of the company's stock.

WEX Stock Down 0.5%

Shares of WEX stock opened at $175.32 on Friday. 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 firm has a market cap of $6.01 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.65 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. The business has a 50-day moving average price of $155.31 and a 200 day moving average price of $148.23.

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.

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