WEX Inc. (NYSE:WEX – Get Free Report) Director Lauren Taylor Wolfe sold 34,577 shares of the firm’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $184.19, for a total transaction of $6,368,737.63. Following the completion of the sale, the director owned 1,472,880 shares in the company, valued at $271,289,767.20. This represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
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 stock was sold at an average price of $181.00, for a total transaction of $36,200,000.00.
WEX Trading Up 1.0%
NYSE WEX opened at $182.26 on Thursday. WEX Inc. has a 52 week low of $125.29 and a 52 week high of $203.99. The company has a 50 day moving average price of $183.72 and a 200 day moving average price of $165.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 3.00. The firm has a market cap of $5.99 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 0.71 and a beta of 0.93.
WEX (NYSE:WEX – Get Free Report) last announced its earnings results on Wednesday, October 28th. The business services provider reported $6.13 earnings per share for the quarter, beating the consensus estimate of $5.68 by $0.45. WEX had a net margin of 14.05% and a return on equity of 45.74%. The company had revenue of $780.10 million during the quarter, compared to the consensus estimate of $749.74 million. During the same period last year, the firm earned $4.59 earnings per share. WEX’s revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts forecast that WEX Inc. will post 18.19 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
WEX has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on WEX from $172.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 27th. Weiss Ratings raised WEX from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 30th. Mizuho increased their price target on WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Cantor Fitzgerald raised their price target on WEX from $178.00 to $189.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Finally, Keefe, Bruyette & Woods raised their price target on WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.10.
Get Our Latest Stock Analysis on WEX
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its stake in shares of WEX by 1.1% during the first quarter. Janus Henderson Group PLC now owns 3,916,073 shares of the business services provider’s stock worth $599,313,000 after buying an additional 44,031 shares during the period. Jupiter Topco LLC purchased a new position in WEX in the 2nd quarter worth $559,710,000. BlackRock Inc. acquired a new stake in WEX during the 2nd quarter worth about $446,833,000. Boston Partners lifted its position in WEX by 4.4% during the 3rd quarter. Boston Partners now owns 1,559,178 shares of the business services provider’s stock worth $262,894,000 after acquiring an additional 66,150 shares during the period. Finally, Bank of America Corp DE grew its stake in WEX by 13.6% during the 1st quarter. Bank of America Corp DE now owns 823,681 shares of the business services provider’s stock valued at $126,056,000 after purchasing an additional 98,524 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.
About WEX
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.
Read More
- Five stocks we like better than WEX
- Keeping AI Cool: AAON Rides the AI Heatwave to Record Growth
- AST SpaceMobile Has a New Rocket Plan, But Its Cash-Burn Problem Isn’t Going Away
- Powering Up the Moon: Redwire’s $40 Million NASA Award
- Can Constellation Energy’s Contracts Power a Stock Rebound?
Receive News & Ratings for WEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEX and related companies with MarketBeat.com's FREE daily email newsletter.
