WEX Inc. (NYSE:WEX) Insider Sells $331,533.39 in Stock

Key Points

• Insider Trading: WEX Inc. insider Ann Elena Drew sold 1,931 shares at an average price of $171.69, totaling approximately $331,533, which reduced her stake by 20.93% to 7,295 shares worth about $1.25 million.
• Stock Performance: WEX shares fell by $1.44 to $168.38, with a 12-month trading range between $110.45 and $217.47, and a market capitalization of $5.77 billion.
• Institutional Holdings: Institutional investors own 97.47% of WEX, with notable increases in holdings from firms such as Intech Investment Management LLC and PNC Financial Services Group Inc.

WEX Inc. (NYSE:WEX - Get Free Report) insider Ann Elena Drew sold 1,931 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total transaction of $331,533.39. Following the transaction, the insider owned 7,295 shares in the company, valued at approximately $1,252,478.55. This represents a 20.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

WEX Price Performance

Shares of NYSE:WEX traded up $3.46 during midday trading on Tuesday, hitting $170.57. The company's stock had a trading volume of 100,673 shares, compared to its average volume of 710,700. The business's 50 day simple moving average is $153.09 and its 200 day simple moving average is $147.94. 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 company has a market cap of $5.84 billion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 1.58 and a beta of 1.28. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47.

Wall Street Analysts Forecast Growth

WEX has been the subject of a number of analyst reports. UBS Group increased their target price on shares of WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Morgan Stanley increased their target price 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. Wells Fargo & Company decreased their price target on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Robert W. Baird raised their price target on shares of WEX from $186.00 to $198.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Barclays raised their price target on shares of WEX from $135.00 to $170.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $181.50.

Hedge Funds Weigh In On WEX

A number of institutional investors have recently bought and sold shares of WEX. Investment Management Corp VA ADV acquired a new position in shares of WEX in the fourth quarter valued at approximately $25,000. State of Wyoming acquired a new position in shares of WEX in the fourth quarter valued at approximately $35,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of WEX by 282.1% in 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 purchasing an additional 158 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of WEX by 72.2% in the fourth quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider's stock valued at $48,000 after purchasing an additional 114 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of WEX by 161.5% in the first 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. 97.47% of the stock is owned by hedge funds and other institutional investors.

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.