WEX Inc. (NYSE:WEX) Insider Sells $289,402.56 in Stock

WEX Inc. (NYSE:WEX) insider Melanie J. Tinto sold 1,564 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the completion of the sale, the insider now owns 8,461 shares in the company, valued at $1,565,623.44. The transaction was disclosed in a filing with the SEC, which is available through this link.

WEX Price Performance

WEX stock opened at $173.39 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. WEX Inc. has a 52 week low of $161.95 and a 52 week high of $244.04. The firm’s fifty day moving average is $179.53 and its 200 day moving average is $205.17. The firm has a market cap of $7.12 billion, a P/E ratio of 28.19, a P/E/G ratio of 1.03 and a beta of 1.54.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of WEX from $246.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. 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 note on Wednesday, April 17th. 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 note on Friday, April 12th. Wells Fargo & Company lowered their target price on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $240.42.

Hedge Funds Weigh In On WEX

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in shares of WEX by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after purchasing an additional 179,813 shares during the last quarter. Kodai Capital Management LP bought a new position in shares of WEX during the 4th quarter valued at $49,750,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of WEX during the 4th quarter valued at $3,617,000. International Assets Investment Management LLC grew its holdings in shares of WEX by 19,044.7% during the 4th quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock valued at $7,002,000 after purchasing an additional 35,804 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in WEX by 2.7% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock worth $177,076,000 after acquiring an additional 22,865 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

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.