WEX Inc. $WEX Shares Sold by Roubaix Capital LLC

Key Points

• Roubaix Capital LLC reduced its stake in WEX Inc. by 34.5%, now holding 19,902 shares worth approximately $3.1 million after selling 10,474 shares in the first quarter.
• Investment analysts have varied price targets for WEX, with Mizuho raising it to $185.00 and Morgan Stanley increasing it to $170.00, while the average price target stands at $181.50.
• Company insiders have sold a total of 4,206 shares valued at around $665,265 over the past three months, representing a significant decrease in their ownership stakes.

Roubaix Capital LLC trimmed its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 34.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,902 shares of the business services provider's stock after selling 10,474 shares during the quarter. Roubaix Capital LLC owned 0.06% of WEX worth $3,125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investment Management Corp VA ADV bought a new stake in shares of WEX during the fourth quarter worth $25,000. State of Wyoming purchased a new position in shares of WEX during the fourth quarter valued at $35,000. Farther Finance Advisors LLC increased its stake in shares of WEX by 161.5% during the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after buying an additional 168 shares during the period. GAMMA Investing LLC increased its stake in shares of WEX by 78.1% during the first quarter. GAMMA Investing LLC now owns 440 shares of the business services provider's stock valued at $69,000 after buying an additional 193 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC increased its stake in shares of WEX by 17.5% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,168 shares of the business services provider's stock valued at $205,000 after buying an additional 174 shares during the period. 97.47% of the stock is currently owned by institutional investors.

WEX Stock Up 2.6%

WEX traded up $4.4310 on Friday, hitting $174.0410. The company had a trading volume of 88,756 shares, compared to its average volume of 693,032. The stock has a fifty day moving average price of $158.43 and a 200-day moving average price of $147.81. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47. The company has a debt-to-equity ratio of 3.99, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 1.58 and a beta of 1.28.

Analysts Set New Price Targets

Several equities analysts have recently commented on WEX shares. Mizuho raised their price target on WEX from $150.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Robert W. Baird raised their price target on WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Jefferies Financial Group raised their price target on WEX from $130.00 to $135.00 and gave the company a "hold" rating in a research note on Tuesday, May 27th. William Blair restated a "market perform" rating on shares of WEX in a research note on Friday, July 25th. Finally, Barclays raised their price target on WEX from $135.00 to $170.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $179.82.

Insiders Place Their Bets

In other WEX news, CAO Jennifer Kimball sold 1,400 shares of the firm's 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 sale, the chief accounting officer owned 3,177 shares of the company's stock, valued at approximately $416,441.16. This trade represents a 30.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Carlos Carriedo sold 875 shares of the firm'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 approximately $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 worth $665,265 in the last three months. Insiders own 1.40% of the company's stock.

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.