WEX (NYSE:WEX) Stock: Insider Jagtar Narula Sells 1,667 Shares

WEX Inc. (NYSE:WEX) CFO Jagtar Narula sold 1,667 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $180.73, for a total transaction of $301,276.91. Following the completion of the transaction, the chief financial officer owned 25,184 shares of the company’s stock, valued at $4,551,504.32. This represents a 6.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

WEX Price Performance

Shares of NYSE WEX traded down $2.55 during midday trading on Thursday, hitting $179.74. The company had a trading volume of 590,924 shares, compared to its average volume of 580,810. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 0.71 and a beta of 0.93. WEX Inc. has a twelve month low of $125.29 and a twelve month high of $203.99. The business has a 50-day simple moving average of $183.72 and a two-hundred day simple moving average 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.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, October 28th. The business services provider reported $6.13 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $749.74 million. During the same period in the prior year, the business posted $4.59 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities research analysts anticipate that WEX Inc. will post 18.19 earnings per share for the current year.

Analyst Ratings Changes

WEX has been the topic of several research analyst reports. Piper Sandler assumed coverage on WEX in a research note on Thursday, September 10th. They set a “neutral” rating and a $209.00 price target on the stock. Mizuho raised their price objective on WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings raised WEX from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 30th. Cantor Fitzgerald lifted their price objective 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 boosted their target price on WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $191.10.

Institutional Investors Weigh In On WEX

Large investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new position in WEX during the 3rd quarter valued at about $25,000. Global Retirement Partners LLC acquired a new position in WEX during the second quarter worth about $26,000. Heritage Family Offices LLP purchased a new stake in shares of WEX in the third quarter valued at about $43,000. Covestor Ltd lifted its holdings in shares of WEX by 97.8% in the third quarter. Covestor Ltd now owns 267 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 132 shares in the last quarter. Finally, Reyes Financial Architecture Inc. acquired a new stake in shares of WEX in the third quarter valued at approximately $47,000. 97.47% of the stock is owned by institutional investors and hedge funds.

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.