WEX Inc. $WEX Shares Purchased by Algert Global LLC

Algert Global LLC boosted its holdings in WEX Inc. (NYSE:WEX) by 58.7% during the 1st quarter, Holdings Channel reports. The fund owned 39,682 shares of the business services provider’s stock after acquiring an additional 14,680 shares during the quarter. Algert Global LLC’s holdings in WEX were worth $6,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its position in shares of WEX by 1.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 59,053 shares of the business services provider’s stock valued at $9,272,000 after purchasing an additional 578 shares during the period. GAMMA Investing LLC increased its position in shares of WEX by 27,871.3% during the 1st quarter. GAMMA Investing LLC now owns 69,089 shares of the business services provider’s stock valued at $10,848,000 after purchasing an additional 68,842 shares during the period. Cerity Partners LLC increased its position in shares of WEX by 88.5% during the 1st quarter. Cerity Partners LLC now owns 10,002 shares of the business services provider’s stock valued at $1,571,000 after purchasing an additional 4,695 shares during the period. Farther Finance Advisors LLC increased its position 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 during the period. Finally, SG Americas Securities LLC acquired a new position in shares of WEX during the 1st quarter valued at $279,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WEX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on WEX in a research report on Thursday, July 17th. They set a “hold” rating and a $150.00 price target on the stock. Oppenheimer initiated coverage on WEX in a research report on Thursday, May 15th. They set a “market perform” rating on the stock. Barclays lifted their price target on WEX from $135.00 to $170.00 and gave the company an “equal weight” rating in a research report on Monday, July 28th. Jefferies Financial Group lifted their target price on WEX from $130.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, May 27th. Finally, Morgan Stanley lifted their target price on WEX from $142.00 to $170.00 and gave the stock an “equal weight” rating in a report on Friday, July 25th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $181.50.

WEX Stock Performance

Shares of NYSE WEX opened at $174.10 on Monday. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.63 and a beta of 1.28. The stock’s fifty day simple moving average is $156.02 and its 200 day simple moving average is $147.67. 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.

Insiders Place Their Bets

In other news, CAO Jennifer Kimball sold 1,400 shares of the firm’s stock in a transaction on 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 $416,441.16. This trade represents a 30.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Melissa D. Smith bought 3,721 shares of the firm’s stock in a transaction dated Thursday, May 29th. The stock was acquired at an average cost of $134.57 per share, with a total value of $500,734.97. Following the transaction, the chief executive officer owned 101,182 shares of the company’s stock, valued at $13,616,061.74. This trade represents a 3.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 4,206 shares of company stock worth $665,265. 1.40% of the stock is currently owned by corporate insiders.

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.