LPL Financial LLC Has $4.82 Million Stock Position in WEX Inc. (NYSE:WEX)

LPL Financial LLC lifted its position in WEX Inc. (NYSE:WEX) by 4.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,667 shares of the business services provider’s stock after buying an additional 1,259 shares during the quarter. LPL Financial LLC owned about 0.09% of WEX worth $4,815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Isthmus Partners LLC raised its stake in WEX by 5.4% during the 1st quarter. Isthmus Partners LLC now owns 1,987 shares of the business services provider’s stock valued at $312,000 after purchasing an additional 101 shares during the last quarter. Cornerstone Investment Partners LLC raised its stake in WEX by 2.9% during the 1st quarter. Cornerstone Investment Partners LLC now owns 4,705 shares of the business services provider’s stock valued at $739,000 after purchasing an additional 133 shares during the last quarter. Foyston Gordon & Payne Inc raised its stake in WEX by 0.7% during the 4th quarter. Foyston Gordon & Payne Inc now owns 19,657 shares of the business services provider’s stock valued at $3,446,000 after purchasing an additional 137 shares during the last quarter. Investment Management Corp VA ADV acquired a new position in WEX during the 4th quarter valued at $25,000. Finally, EP Wealth Advisors LLC raised its stake in WEX by 13.2% during the 4th quarter. EP Wealth Advisors LLC now owns 1,356 shares of the business services provider’s stock valued at $238,000 after purchasing an additional 158 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Jennifer Kimball sold 1,400 shares of WEX stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $131.08, for a total transaction of $183,512.00. Following the completion of the transaction, the chief accounting officer directly owned 3,177 shares of the company’s stock, valued at $416,441.16. This trade represents a 30.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Melissa D. Smith purchased 3,721 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The shares were purchased at an average cost of $134.57 per share, with a total value of $500,734.97. Following the completion of the acquisition, the chief executive officer directly owned 101,182 shares in the company, valued at $13,616,061.74. The trade was a 3.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 4,206 shares of company stock valued at $665,265. Company insiders own 1.40% of the company’s stock.

WEX Trading Up 3.3%

Shares of WEX stock opened at $176.36 on Thursday. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47. The company has a market capitalization of $6.04 billion, a P/E ratio of 22.30, a P/E/G ratio of 1.60 and a beta of 1.28. The firm has a 50-day moving average price of $154.53 and a 200 day moving average price of $148.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 3.99.

Analyst Upgrades and Downgrades

WEX has been the subject of several research analyst reports. UBS Group upped their target price on shares of WEX from $138.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Oppenheimer assumed coverage on shares of WEX in a research note on Thursday, May 15th. They set a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of WEX in a report on Thursday, July 17th. They set a “hold” rating and a $150.00 price objective for the company. Jefferies Financial Group upped their target price on shares of WEX from $130.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, May 27th. Finally, Mizuho increased their price target on shares of WEX from $150.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $181.50.

WEX Company 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.