WEX Inc (NYSE:WEX) Director Regina O. Sommer sold 765 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $195.81, for a total transaction of $149,794.65. Following the transaction, the director now owns 12,850 shares in the company, valued at approximately $2,516,158.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of WEX traded down $1.40 on Monday, reaching $199.15. The company’s stock had a trading volume of 294,477 shares, compared to its average volume of 319,964. The company has a current ratio of 1.30, a quick ratio of 1.42 and a debt-to-equity ratio of 1.46. WEX Inc has a twelve month low of $131.35 and a twelve month high of $221.66. The stock has a market capitalization of $8.68 billion, a PE ratio of 26.07, a PEG ratio of 1.62 and a beta of 1.54. The firm has a fifty day moving average of $199.91 and a 200-day moving average of $203.73.
WEX (NYSE:WEX) last posted its earnings results on Thursday, October 31st. The business services provider reported $2.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.35 by $0.24. WEX had a net margin of 3.95% and a return on equity of 18.86%. The company had revenue of $459.96 million for the quarter, compared to analyst estimates of $460.00 million. During the same quarter in the prior year, the business posted $2.23 EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. As a group, equities analysts anticipate that WEX Inc will post 8.38 EPS for the current fiscal year.
Several equities analysts have recently weighed in on WEX shares. ValuEngine lowered shares of WEX from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Wolfe Research set a $240.00 price objective on shares of WEX and gave the company a “buy” rating in a report on Friday, November 1st. Barclays dropped their price objective on shares of WEX from $253.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Robert W. Baird upgraded shares of WEX from a “neutral” rating to an “outperform” rating and set a $234.00 price objective on the stock in a report on Friday, November 1st. Finally, Morgan Stanley upped their price objective on shares of WEX from $197.00 to $204.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. WEX has an average rating of “Buy” and an average target price of $227.33.
Several institutional investors and hedge funds have recently bought and sold shares of WEX. Nuveen Asset Management LLC acquired a new stake in shares of WEX in the 2nd quarter worth about $57,508,000. Invesco Ltd. raised its holdings in shares of WEX by 877.0% in the 2nd quarter. Invesco Ltd. now owns 289,257 shares of the business services provider’s stock worth $60,195,000 after acquiring an additional 259,651 shares during the last quarter. Atlanta Capital Management Co. L L C raised its holdings in shares of WEX by 10.5% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 2,223,934 shares of the business services provider’s stock worth $462,801,000 after acquiring an additional 211,481 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of WEX by 544.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 229,985 shares of the business services provider’s stock worth $47,860,000 after acquiring an additional 194,273 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its holdings in shares of WEX by 24.6% in the 2nd quarter. TimesSquare Capital Management LLC now owns 694,157 shares of the business services provider’s stock worth $144,454,000 after acquiring an additional 136,900 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.
WEX Company Profile
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.
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