WEX Inc. (NYSE:WEX) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. cut its holdings in shares of WEX Inc. (NYSE:WEXFree Report) by 1.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,551 shares of the business services provider’s stock after selling 62 shares during the quarter. Shell Asset Management Co.’s holdings in WEX were worth $668,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Burney Co. lifted its position in WEX by 131.1% during the third quarter. Burney Co. now owns 21,120 shares of the business services provider’s stock worth $3,972,000 after buying an additional 11,983 shares during the period. Charles Schwab Investment Management Inc. increased its stake in WEX by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 321,577 shares of the business services provider’s stock worth $60,485,000 after acquiring an additional 4,285 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in WEX by 25.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 156,286 shares of the business services provider’s stock worth $29,396,000 after acquiring an additional 31,332 shares during the last quarter. Fosun International Ltd acquired a new stake in WEX during the third quarter worth about $597,000. Finally, J.P. Morgan Private Wealth Advisors LLC increased its stake in WEX by 43.9% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 1,841 shares of the business services provider’s stock worth $346,000 after acquiring an additional 562 shares during the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Price Performance

WEX stock opened at $212.14 on Friday. The firm has a market cap of $9.07 billion, a P/E ratio of 34.44, a price-to-earnings-growth ratio of 1.38 and a beta of 1.60. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $213.61. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.03 and a current ratio of 1.05. The stock has a 50-day simple moving average of $196.04 and a 200-day simple moving average of $189.80.

Insider Activity at WEX

In related news, Director Jack Vanwoerkom sold 2,000 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $174.38, for a total value of $348,760.00. Following the completion of the transaction, the director now owns 8,319 shares of the company’s stock, valued at $1,450,667.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Melissa D. Smith sold 41,107 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $205.00, for a total value of $8,426,935.00. Following the completion of the transaction, the chief executive officer now owns 81,998 shares of the company’s stock, valued at $16,809,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack Vanwoerkom sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $174.38, for a total value of $348,760.00. Following the transaction, the director now directly owns 8,319 shares in the company, valued at approximately $1,450,667.22. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WEX has been the subject of several research analyst reports. TheStreet upgraded WEX from a “c” rating to a “b” rating in a research note on Thursday. Truist Financial upped their price target on WEX from $185.00 to $220.00 and gave the stock a “hold” rating in a research note on Friday. StockNews.com upgraded WEX from a “hold” rating to a “buy” rating in a research note on Friday. Mizuho upped their price target on WEX from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Morgan Stanley lowered their target price on WEX from $205.00 to $200.00 and set an “equal weight” rating for the company in a research note on Friday, October 27th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, WEX currently has a consensus rating of “Moderate Buy” and an average target price of $223.75.

View Our Latest Analysis on WEX

WEX Company Profile

(Free Report)

WEX Inc operates a commerce platform in the United States and internationally. The Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account 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 tools to fleets to manage expenses and capital requirements.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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