WEX Inc. (NYSE:WEX) CFO Jagtar Narula Sells 540 Shares

WEX Inc. (NYSE:WEX) CFO Jagtar Narula sold 540 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $180.00, for a total transaction of $97,200.00. Following the sale, the chief financial officer now directly owns 8,168 shares of the company’s stock, valued at approximately $1,470,240. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

WEX Stock Down 0.6 %

Shares of WEX stock traded down $1.08 during mid-day trading on Wednesday, reaching $176.96. 253,260 shares of the company were exchanged, compared to its average volume of 326,337. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $7.41 billion, a P/E ratio of 28.77, a P/E/G ratio of 1.04 and a beta of 1.54. The business’s 50 day simple moving average is $186.17 and its 200 day simple moving average is $206.87.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.15. WEX had a net margin of 10.21% and a return on equity of 30.92%. The business had revenue of $652.70 million during the quarter, compared to the consensus estimate of $653.52 million. Research analysts predict that WEX Inc. will post 13.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Jefferies Financial Group increased their target price on shares of WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Robert W. Baird increased their target price 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 increased their target price 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. StockNews.com downgraded shares of WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Finally, Evercore ISI increased their price objective on shares of WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, WEX currently has a consensus rating of “Moderate Buy” and an average target price of $240.00.

Hedge Funds Weigh In On WEX

Several large investors have recently added to or reduced their stakes in WEX. Comerica Bank bought a new position in WEX during the third quarter worth $6,545,000. VisionPoint Advisory Group LLC lifted its stake in WEX by 74.7% in the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after buying an additional 62 shares during the last quarter. Vanguard Group Inc. lifted its stake in WEX by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,131,124 shares of the business services provider’s stock valued at $777,023,000 after buying an additional 83,102 shares during the last quarter. Bath Savings Trust Co lifted its stake in WEX by 0.3% in the fourth quarter. Bath Savings Trust Co now owns 27,284 shares of the business services provider’s stock valued at $5,308,000 after buying an additional 80 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning bought a new stake in WEX in the fourth quarter valued at $357,000. 97.47% of the stock is currently owned by institutional investors.

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.