Yousif Capital Management LLC Sells 2,082 Shares of WEX Inc. $WEX

Key Points

• Yousif Capital Management LLC reduced its stake in WEX Inc. by 15.3%, selling 2,082 shares during the second quarter, leaving it with a total of 11,533 shares valued at approximately $1.69 million.
• Institutional investors collectively own 97.47% of WEX's shares, with several firms increasing their holdings significantly during the first quarter.
• WEX’s stock currently trades around $150.18 and analysts have varying target prices, with a consensus rating of "Hold" and a target price averaging $173.50.

Yousif Capital Management LLC lowered its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 15.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,533 shares of the business services provider's stock after selling 2,082 shares during the quarter. Yousif Capital Management LLC's holdings in WEX were worth $1,694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of WEX. Farther Finance Advisors LLC raised its holdings in shares of WEX by 161.5% during the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after purchasing an additional 168 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of WEX by 78.1% during the 1st quarter. GAMMA Investing LLC now owns 440 shares of the business services provider's stock valued at $69,000 after purchasing an additional 193 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of WEX during the 1st quarter valued at $279,000. Blue Trust Inc. raised its holdings in shares of WEX by 69.8% during the 1st quarter. Blue Trust Inc. now owns 2,420 shares of the business services provider's stock valued at $380,000 after purchasing an additional 995 shares in the last quarter. Finally, Praxis Investment Management Inc. bought a new position in shares of WEX during the 1st quarter valued at $264,000. Institutional investors own 97.47% of the company's stock.

WEX Stock Performance

NYSE WEX opened at $150.18 on Monday. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 1.41 and a beta of 1.26. The company's fifty day moving average is $165.34 and its two-hundred day moving average is $149.88. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $217.47.

Insider Buying and Selling at WEX

In other WEX news, insider Ann Elena Drew sold 1,931 shares of the firm's 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Carlos Carriedo sold 875 shares of the firm's 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 sale, the chief operating officer owned 5,270 shares in the company, 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. Company insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WEX. Weiss Ratings restated a "hold (c)" rating on shares of WEX in a report on Wednesday, October 8th. Morgan Stanley lifted their target price 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of WEX in a report on Thursday, July 17th. They issued a "hold" rating and a $150.00 target price on the stock. Zacks Research downgraded shares of WEX from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Finally, Robert W. Baird lifted 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, October 1st. Three analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $173.50.

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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