Deutsche Bank AG Sells 6,291 Shares of WEX Inc. $WEX

Deutsche Bank AG lessened its position in WEX Inc. (NYSE:WEX) by 31.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,033 shares of the business services provider’s stock after selling 6,291 shares during the period. Deutsche Bank AG’s holdings in WEX were worth $2,203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Factorial Partners LLC grew its position in shares of WEX by 115.8% in the 1st quarter. Factorial Partners LLC now owns 24,600 shares of the business services provider’s stock valued at $3,863,000 after acquiring an additional 13,200 shares during the period. R Squared Ltd boosted its holdings in shares of WEX by 3,180.0% during the 1st quarter. R Squared Ltd now owns 1,640 shares of the business services provider’s stock worth $258,000 after buying an additional 1,590 shares during the period. Clark Estates Inc. NY boosted its holdings in shares of WEX by 8.4% during the 1st quarter. Clark Estates Inc. NY now owns 13,300 shares of the business services provider’s stock worth $2,088,000 after buying an additional 1,036 shares during the period. XTX Topco Ltd bought a new stake in shares of WEX during the 1st quarter worth about $2,178,000. Finally, LPL Financial LLC boosted its holdings in shares of WEX by 4.3% during the 1st quarter. LPL Financial LLC now owns 30,667 shares of the business services provider’s stock worth $4,815,000 after buying an additional 1,259 shares during the period. Institutional investors own 97.47% of the company’s stock.

Insider Activity

In other news, CAO Jennifer Kimball sold 1,400 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer owned 3,177 shares of the company’s stock, valued at approximately $416,441.16. This represents a 30.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ann Elena Drew sold 1,931 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $171.69, for a total transaction of $331,533.39. Following the sale, the insider directly owned 7,295 shares of the company’s stock, valued at approximately $1,252,478.55. This trade represents a 20.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,206 shares of company stock worth $665,265. Insiders own 1.40% of the company’s stock.

WEX Stock Performance

NYSE WEX opened at $169.2440 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 3.99. The company has a market capitalization of $5.80 billion, a P/E ratio of 21.40, a P/E/G ratio of 1.60 and a beta of 1.28. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47. The firm has a 50-day moving average price of $157.85 and a two-hundred day moving average price of $147.90.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays lifted 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. Mizuho lifted their target price on shares of WEX from $150.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. UBS Group lifted their target price on shares of WEX from $138.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Robert W. Baird lifted 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. Finally, Oppenheimer started coverage on shares of WEX in a report on Thursday, May 15th. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, WEX has a consensus rating of “Hold” and a consensus target price of $179.82.

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.