WEX Inc. (NYSE:WEX) CFO Sells $97,200.00 in Stock

WEX Inc. (NYSE:WEX) CFO Jagtar Narula sold 540 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 8,168 shares of the company’s stock, valued at $1,470,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

WEX Stock Performance

WEX traded down $1.08 during trading on Wednesday, hitting $176.96. The stock had a trading volume of 253,260 shares, compared to its average volume of 326,337. The company has a 50 day moving average price of $186.17 and a 200-day moving average price of $206.87. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 28.77, a P/E/G ratio of 1.04 and a beta of 1.54. WEX Inc. has a one year low of $161.95 and a one year high of $244.04. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.06 and a quick ratio of 1.06.

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

Analyst Ratings Changes

A number of research firms have weighed in on WEX. Citigroup raised their price target on WEX from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Jefferies Financial Group raised their price target on WEX from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Evercore ISI raised their price target on WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Wells Fargo & Company began coverage on WEX in a research note on Wednesday, June 5th. They set an “equal weight” rating and a $200.00 target price for the company. Finally, Barclays lifted their target price on WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $240.00.

Hedge Funds Weigh In On WEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC raised its holdings in WEX by 74.7% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 62 shares in the last quarter. GAMMA Investing LLC acquired a new position in WEX in the 4th quarter valued at $27,000. Rise Advisors LLC acquired a new position in WEX in the 1st quarter valued at $29,000. Principal Securities Inc. acquired a new position in WEX in the 4th quarter valued at $31,000. Finally, Covestor Ltd raised its holdings in WEX by 233.9% in the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 131 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

About WEX

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.