Amundi Sells 1,201 Shares of WEX Inc. $WEX

Amundi lessened its holdings in WEX Inc. (NYSE:WEX) by 7.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,999 shares of the business services provider’s stock after selling 1,201 shares during the period. Amundi’s holdings in WEX were worth $2,198,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Isthmus Partners LLC raised its stake in WEX by 5.4% in the 1st 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 during the period. Cornerstone Investment Partners LLC increased its position in WEX by 2.9% during the 1st quarter. Cornerstone Investment Partners LLC now owns 4,705 shares of the business services provider’s stock worth $739,000 after buying an additional 133 shares during the period. Brooklyn Investment Group increased its position in WEX by 50.7% during the 1st quarter. Brooklyn Investment Group now owns 422 shares of the business services provider’s stock worth $66,000 after buying an additional 142 shares during the period. Investment Management Corp VA ADV bought a new position in WEX during the 4th quarter worth $25,000. Finally, Farther Finance Advisors LLC increased its position in WEX by 161.5% during the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider’s stock worth $44,000 after buying an additional 168 shares during the period. Institutional investors own 97.47% of the company’s stock.

Insider Transactions at WEX

In other WEX news, COO Carlos Carriedo sold 875 shares of the 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 directly owned 5,270 shares in the company, valued at $904,753.60. This represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ann Elena Drew sold 1,931 shares of WEX stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total value of $331,533.39. Following the completion of the transaction, the insider owned 7,295 shares in the company, valued at approximately $1,252,478.55. This represents a 20.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

WEX Trading Up 3.9%

Shares of WEX stock opened at $176.13 on Friday. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 1.59 and a beta of 1.31. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 3.99. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47. The firm’s 50-day moving average price is $166.52 and its two-hundred day moving average price is $149.25.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Mizuho increased their price objective on WEX from $150.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Oppenheimer assumed coverage on WEX in a research report on Thursday, May 15th. They set a “market perform” rating on the stock. William Blair reiterated a “market perform” rating on shares of WEX in a research report on Friday, July 25th. Morgan Stanley increased their price objective on WEX from $142.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Finally, Robert W. Baird increased their price objective on WEX from $186.00 to $198.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $179.82.

WEX Company 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.