WEX Inc. $WEX Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC cut its stake in WEX Inc. (NYSE:WEX) by 38.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,891 shares of the business services provider’s stock after selling 3,090 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in WEX were worth $740,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Inspire Investing LLC increased its position in WEX by 3.5% in the first quarter. Inspire Investing LLC now owns 2,588 shares of the business services provider’s stock worth $406,000 after buying an additional 87 shares during the period. Isthmus Partners LLC grew its stake in shares of WEX by 5.4% in the first quarter. Isthmus Partners LLC now owns 1,987 shares of the business services provider’s stock worth $312,000 after purchasing an additional 101 shares in the last quarter. Cornerstone Investment Partners LLC grew its stake in shares of WEX by 2.9% in the first quarter. Cornerstone Investment Partners LLC now owns 4,705 shares of the business services provider’s stock worth $739,000 after purchasing an additional 133 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of WEX by 50.7% in the first quarter. Brooklyn Investment Group now owns 422 shares of the business services provider’s stock worth $66,000 after purchasing an additional 142 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake 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 worth $31,000 after purchasing an additional 158 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Carlos Carriedo sold 875 shares of the stock in a transaction dated Thursday, July 31st. The stock was 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 directly owned 5,270 shares of the company’s stock, valued at approximately $904,753.60. This represents a 14.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ann Elena Drew sold 1,931 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $171.69, for a total value 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. This represents a 20.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

WEX Stock Up 0.4%

Shares of WEX stock opened at $159.60 on Friday. The stock has a 50-day moving average price of $168.83 and a 200 day moving average price of $150.12. The company has a market cap of $5.47 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $217.47.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WEX shares. UBS Group increased their price target on WEX from $138.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Zacks Research cut WEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. William Blair reissued a “market perform” rating on shares of WEX in a research note on Friday, July 25th. Weiss Ratings reissued a “hold (c)” rating on shares of WEX in a research note on Saturday, September 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on WEX in a research note on Thursday, July 17th. They issued a “hold” rating and a $150.00 price target for the company. Three analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $180.91.

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.