Cwm LLC Boosts Stock Position in WEX Inc. $WEX

Cwm LLC boosted its holdings in shares of WEX Inc. (NYSE:WEX) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,341 shares of the business services provider’s stock after buying an additional 178 shares during the period. Cwm LLC’s holdings in WEX were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in WEX by 22.1% during the second quarter. UMB Bank n.a. now owns 376 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 68 shares in the last quarter. Inspire Investing LLC raised its position in WEX by 3.5% during the first quarter. Inspire Investing LLC now owns 2,588 shares of the business services provider’s stock valued at $406,000 after acquiring an additional 87 shares in the last quarter. Isthmus Partners LLC raised its position in WEX by 5.4% during the first quarter. Isthmus Partners LLC now owns 1,987 shares of the business services provider’s stock valued at $312,000 after acquiring an additional 101 shares in the last quarter. Cornerstone Investment Partners LLC raised its position in WEX by 2.9% during the first quarter. Cornerstone Investment Partners LLC now owns 4,705 shares of the business services provider’s stock valued at $739,000 after acquiring an additional 133 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in WEX by 50.7% during the first quarter. Brooklyn Investment Group now owns 422 shares of the business services provider’s stock valued at $66,000 after acquiring an additional 142 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on WEX. Morgan Stanley lifted their price target on WEX from $142.00 to $170.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. William Blair reissued a “market perform” rating on shares of WEX in a report on Friday, July 25th. Mizuho raised their price objective on WEX from $150.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft started coverage on WEX in a report on Thursday, July 17th. They issued a “hold” rating and a $150.00 price objective on the stock. Finally, UBS Group raised their price objective on WEX from $138.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $173.91.

WEX Stock Performance

Shares of NYSE:WEX opened at $159.97 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 business’s 50 day moving average price is $163.74 and its 200-day moving average price is $150.73. The firm has a market capitalization of $5.48 billion, a PE ratio of 20.22, a P/E/G ratio of 1.39 and a beta of 1.26. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $191.43.

Insider Buying and Selling

In other news, COO Carlos Carriedo sold 875 shares of WEX stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $171.68, for a total value of $150,220.00. Following the sale, the chief operating officer directly owned 5,270 shares of the company’s stock, valued at $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 is available at this link. Also, insider Ann Elena Drew sold 1,931 shares of WEX stock in a transaction that occurred on 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 in the company, valued at $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. Insiders own 1.40% of the company’s stock.

About WEX

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.