WEX (NYSE:WEX) Director Sells $6,368,737.63 in Stock

WEX Inc. (NYSE:WEX) Director Lauren Taylor Wolfe sold 34,577 shares of WEX stock in a transaction on Friday, November 6th. The stock was sold at an average price of $184.19, for a total transaction of $6,368,737.63. Following the transaction, the director directly owned 1,472,880 shares of the company’s stock, valued at approximately $271,289,767.20. This trade represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Lauren Taylor Wolfe also recently made the following trade(s):

• On Thursday, November 5th, Lauren Taylor Wolfe sold 200,000 shares of WEX stock. The shares were sold at an average price of $181.00, for a total transaction of $36,200,000.00.

WEX Stock Performance

Shares of NYSE:WEX traded up $0.35 on Monday, hitting $182.57. The company had a trading volume of 621,779 shares, compared to its average volume of 579,670. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 0.72 and a beta of 0.93. The stock has a 50 day moving average price of $184.33 and a 200 day moving average price of $165.15. WEX Inc. has a 1-year low of $125.29 and a 1-year high of $203.99. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 3.00.

WEX (NYSE:WEX) last posted its earnings results on Wednesday, October 28th. The business services provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.68 by $0.45. The company had revenue of $780.10 million during the quarter, compared to analysts’ expectations of $749.74 million. WEX had a net margin of 14.05% and a return on equity of 45.74%. WEX’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.59 EPS. Analysts expect that WEX Inc. will post 18.19 EPS for the current year.

Institutional Investors Weigh In On WEX

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in WEX by 12.5% in the 3rd quarter. GAMMA Investing LLC now owns 906 shares of the business services provider’s stock worth $153,000 after purchasing an additional 101 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in WEX by 17.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 689 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 102 shares during the period. Choreo LLC boosted its holdings in WEX by 3.6% in the 3rd quarter. Choreo LLC now owns 3,187 shares of the business services provider’s stock valued at $538,000 after purchasing an additional 110 shares during the period. Net Worth Advisory Group grew its position in shares of WEX by 8.6% during the 3rd quarter. Net Worth Advisory Group now owns 1,551 shares of the business services provider’s stock worth $262,000 after purchasing an additional 123 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of WEX by 97.8% during the 3rd quarter. Covestor Ltd now owns 267 shares of the business services provider’s stock worth $45,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Cantor Fitzgerald increased their price target on shares of WEX from $178.00 to $189.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Zacks Research upgraded WEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 3rd. Piper Sandler assumed coverage on WEX in a report on Thursday, September 10th. They set a “neutral” rating and a $209.00 price objective for the company. Evercore raised WEX to an “outperform” rating in a research report on Tuesday, July 21st. Finally, Mizuho increased their target price on WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, WEX presently has a consensus rating of “Moderate Buy” and an average target price of $191.10.

WEX Company Profile

WEX Inc is a financial technology company that provides payment processing and business management solutions. Founded in 1983 as Wright Express, the company adopted the WEX name in 2012 and is headquartered in Portland, Maine.

WEX’s fleet business offers payment cards and related services for commercial and government fleets, including tools to manage fuel purchases, vehicle expenses and fleet operations. Its travel and corporate payments business provides solutions such as virtual cards and payment services for travel companies and other businesses.

WEX also provides employee benefits administration, including platforms and services for health savings accounts, flexible spending accounts, commuter benefits and COBRA administration.