Sunriver Management LLC Has $49.32 Million Position in WEX Inc. $WEX

Key Points

• Sunriver Management LLC increased its stake in WEX Inc. by 75.9% during Q1, making it the firm's third largest position with approximately $49.3 million worth of shares.
• Several analysts have raised their price targets for WEX, with Mizuho and UBS both targeting $185.00, reflecting positive sentiment as three analysts rate it a Buy.
• WEX's COO, Carlos Carriedo, sold 875 shares in July, marking a 14.24% decrease in his position, while insider sales over the past 90 days totaled \strong>$665,265.

Sunriver Management LLC lifted its stake in WEX Inc. (NYSE:WEX - Free Report) by 75.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 314,069 shares of the business services provider's stock after purchasing an additional 135,490 shares during the quarter. WEX accounts for 6.1% of Sunriver Management LLC's portfolio, making the stock its 3rd largest position. Sunriver Management LLC owned about 0.92% of WEX worth $49,315,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Earnest Partners LLC grew its stake in WEX by 1.0% in the fourth quarter. Earnest Partners LLC now owns 872,734 shares of the business services provider's stock valued at $153,008,000 after purchasing an additional 8,780 shares in the last quarter. Lyrical Asset Management LP raised its position in WEX by 0.3% during the first quarter. Lyrical Asset Management LP now owns 826,188 shares of the business services provider's stock valued at $129,728,000 after acquiring an additional 2,754 shares in the last quarter. Hsbc Holdings PLC raised its position in WEX by 20,412.8% during the first quarter. Hsbc Holdings PLC now owns 638,563 shares of the business services provider's stock valued at $99,069,000 after acquiring an additional 635,450 shares in the last quarter. Dimensional Fund Advisors LP raised its position in WEX by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 602,693 shares of the business services provider's stock valued at $105,653,000 after acquiring an additional 18,331 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its position in WEX by 79.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 381,767 shares of the business services provider's stock valued at $59,945,000 after acquiring an additional 169,137 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Stock Performance

WEX traded down $2.24 during trading on Thursday, reaching $170.72. 245,919 shares of the company's stock were exchanged, compared to its average volume of 685,214. WEX Inc. has a fifty-two week low of $110.45 and a fifty-two week high of $217.47. 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 business has a 50 day moving average price of $160.96 and a 200 day moving average price of $147.91. The company has a market capitalization of $5.85 billion, a P/E ratio of 21.58, a PEG ratio of 1.60 and a beta of 1.28.

Insider Buying and Selling at WEX

In other WEX news, COO Carlos Carriedo sold 875 shares of WEX stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $171.68, for a total transaction of $150,220.00. Following the completion of the transaction, the chief operating officer directly owned 5,270 shares of the company's stock, valued at approximately $904,753.60. This trade represents a 14.24% 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 this link. Also, insider Ann Elena Drew sold 1,931 shares of WEX stock in a transaction 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 approximately $1,252,478.55. The trade was a 20.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,206 shares of company stock valued at $665,265. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WEX. Morgan Stanley raised their price objective on shares of WEX from $142.00 to $170.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Robert W. Baird lifted their price target on shares of WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Barclays lifted their price target on shares of WEX from $135.00 to $170.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of WEX in a research report on Thursday, July 17th. They issued a "hold" rating and a $150.00 price target on the stock. Finally, William Blair reissued a "market perform" rating on shares of WEX in a research report on Friday, July 25th. Three 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 company has an average rating of "Hold" and a consensus target price of $179.82.

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.