Cetera Investment Advisers Purchases 1,179 Shares of WEX Inc. (NYSE:WEX)

Cetera Investment Advisers increased its position in shares of WEX Inc. (NYSE:WEX) by 40.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,094 shares of the business services provider’s stock after acquiring an additional 1,179 shares during the quarter. Cetera Investment Advisers’ holdings in WEX were worth $643,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of WEX. Brookwood Investment Group LLC acquired a new stake in WEX during the 1st quarter worth approximately $279,000. Oak Thistle LLC acquired a new stake in shares of WEX in the first quarter valued at approximately $392,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of WEX in the first quarter valued at approximately $533,000. Gallacher Capital Management LLC acquired a new stake in shares of WEX in the first quarter valued at approximately $211,000. Finally, Verdence Capital Advisors LLC raised its holdings in shares of WEX by 50.2% in the first quarter. Verdence Capital Advisors LLC now owns 30,841 shares of the business services provider’s stock valued at $4,843,000 after purchasing an additional 10,310 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WEX shares. UBS Group lifted their price objective on shares of WEX from $138.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Robert W. Baird boosted their target price on shares of WEX from $186.00 to $198.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Oppenheimer assumed coverage on shares of WEX in a report on Thursday, May 15th. They set a “market perform” rating on the stock. Wells Fargo & Company lowered their target price on shares of WEX from $160.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Finally, Barclays boosted their target price 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $181.50.

Insider Activity at WEX

In other news, COO Carlos Carriedo sold 875 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $171.68, for a total value of $150,220.00. Following the completion of the sale, the chief operating officer owned 5,270 shares of the company’s stock, valued at approximately $904,753.60. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ann Elena Drew sold 1,931 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total transaction of $331,533.39. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,206 shares of company stock valued at $665,265. 1.40% of the stock is owned by company insiders.

WEX Trading Down 0.6%

WEX stock opened at $174.10 on Friday. 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 company has a fifty day moving average price of $156.02 and a two-hundred day moving average price of $148.18. WEX Inc. has a one year low of $110.45 and a one year high of $217.47. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 1.64 and a beta of 1.28.

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.