Stephens Inc. AR Sells 1,092 Shares of WEX Inc. $WEX

Stephens Inc. AR reduced its position in shares of WEX Inc. (NYSE:WEX) by 9.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,022 shares of the business services provider’s stock after selling 1,092 shares during the quarter. Stephens Inc. AR’s holdings in WEX were worth $1,472,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in WEX by 282.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 214 shares of the business services provider’s stock valued at $31,000 after buying an additional 158 shares during the last quarter. Quarry LP bought a new position in WEX in the 1st quarter worth $44,000. SVB Wealth LLC bought a new position in WEX in the 1st quarter worth $49,000. UMB Bank n.a. raised its holdings in WEX by 22.1% in the 2nd quarter. UMB Bank n.a. now owns 376 shares of the business services provider’s stock worth $55,000 after purchasing an additional 68 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in WEX by 50.7% in the 1st 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. 97.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley upped their price objective on shares of WEX from $142.00 to $170.00 and gave the stock an “equal weight” rating in a report on Friday, July 25th. Mizuho upped their price objective on shares of WEX from $150.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Barclays upped their price objective 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. William Blair restated a “market perform” rating on shares of WEX in a report on Friday, July 25th. Finally, UBS Group increased their price target on shares of WEX from $138.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, WEX presently has an average rating of “Hold” and a consensus target price of $173.91.

WEX Stock Up 2.8%

Shares of WEX stock opened at $160.13 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 50-day moving average of $164.02 and a 200 day moving average of $150.41. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.36 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 Transactions at WEX

In other WEX news, insider Ann Elena Drew sold 1,931 shares of the firm’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 in the company, valued at approximately $1,252,478.55. This trade represents a 20.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Carlos Carriedo sold 875 shares of the firm’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $171.68, for a total transaction of $150,220.00. Following the sale, the chief operating officer owned 5,270 shares of the company’s stock, valued at approximately $904,753.60. This represents a 14.24% 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 company insiders.

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.