WEX Inc. $WEX Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in WEX Inc. by 12.8% during the second quarter, selling 1,609 shares and leaving them with 10,991 shares valued at approximately $1.6 million.
• Insider sales were reported, with COO Carlos Carriedo selling 875 shares and a decrease in position, while insider Ann Elena Drew sold 1,931 shares, both indicating notable insider activity.
• WEX's stock has seen recent target price upgrades from multiple analysts, with estimates now ranging from $170.00 to $210.00, reflecting a positive outlook in the market.

Public Employees Retirement System of Ohio lowered its holdings in WEX Inc. (NYSE:WEX - Free Report) by 12.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,991 shares of the business services provider's stock after selling 1,609 shares during the period. Public Employees Retirement System of Ohio's holdings in WEX were worth $1,614,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings 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 valued at $31,000 after acquiring an additional 158 shares during the period. Farther Finance Advisors LLC boosted its stake in WEX by 161.5% in the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock worth $44,000 after purchasing an additional 168 shares during the period. Quarry LP acquired a new position in shares of WEX during the 1st quarter worth about $44,000. SVB Wealth LLC bought a new stake in shares of WEX in the 1st quarter valued at about $49,000. Finally, UMB Bank n.a. raised its holdings in shares of WEX by 22.1% in the 2nd quarter. UMB Bank n.a. now owns 376 shares of the business services provider's stock valued at $55,000 after purchasing an additional 68 shares during the period. Institutional investors own 97.47% of the company's stock.

Insider Transactions at WEX

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

WEX Stock Up 0.4%

Shares of NYSE:WEX opened at $159.60 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. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $217.47. The stock's fifty day simple moving average is $168.83 and its 200-day simple moving average is $150.12. The company has a market capitalization of $5.47 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.49 and a beta of 1.26.

Wall Street Analysts Forecast Growth

WEX has been the topic of several recent research reports. Robert W. Baird raised their target price on shares of WEX from $198.00 to $210.00 and gave the stock an "outperform" rating in a report on Wednesday. William Blair reissued a "market perform" rating on shares of WEX in a research note on Friday, July 25th. Weiss Ratings reissued a "hold (c)" rating on shares of WEX in a report on Saturday, September 27th. UBS Group upped their price objective on shares of WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Barclays upped their price objective on WEX from $135.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, WEX presently has an average rating of "Hold" and an average target price of $180.91.

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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