WEX Inc. (NYSE:WEX) Holdings Cut by Invenomic Capital Management LP

Invenomic Capital Management LP lessened its holdings in shares of WEX Inc. (NYSE:WEX) by 51.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,966 shares of the business services provider’s stock after selling 100,885 shares during the period. WEX accounts for about 1.2% of Invenomic Capital Management LP’s investment portfolio, making the stock its 28th biggest holding. Invenomic Capital Management LP owned 0.23% of WEX worth $23,032,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of WEX during the fourth quarter valued at approximately $27,000. Rise Advisors LLC bought a new stake in shares of WEX during the first quarter valued at approximately $29,000. Principal Securities Inc. acquired a new position in shares of WEX during the fourth quarter valued at approximately $31,000. Covestor Ltd increased its stake in shares of WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 131 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in shares of WEX during the first quarter valued at approximately $60,000. Institutional investors own 97.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on WEX. Barclays raised their price objective on shares of WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Robert W. Baird lifted their price target on shares of WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Citigroup lifted their price target on shares of WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. William Blair upgraded shares of WEX to a “strong-buy” rating in a research report on Friday. Finally, Wells Fargo & Company decreased their price target on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $240.42.

Insider Buying and Selling

In related news, CFO Jagtar Narula sold 540 shares of WEX stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.00, for a total value of $97,200.00. Following the transaction, the chief financial officer now owns 8,168 shares in the company, valued at approximately $1,470,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $180.00, for a total transaction of $97,200.00. Following the transaction, the chief financial officer now owns 8,168 shares in the company, valued at approximately $1,470,240. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Sara Trickett sold 734 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total transaction of $154,455.62. The disclosure for this sale can be found here. Insiders have sold 4,911 shares of company stock worth $1,008,402 in the last quarter. 1.10% of the stock is currently owned by company insiders.

WEX Stock Down 1.3 %

Shares of WEX stock traded down $2.45 on Tuesday, hitting $184.18. The company’s stock had a trading volume of 375,696 shares, compared to its average volume of 337,122. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The firm’s fifty day moving average price is $180.22 and its 200-day moving average price is $205.67. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 29.95, a P/E/G ratio of 1.06 and a beta of 1.55.

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.