WEX (NYSE:WEX) Insider Karen Stroup Sells 2,153 Shares of Company Stock

WEX Inc. (NYSE:WEX) insider Karen Stroup sold 2,153 shares of WEX stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $181.93, for a total value of $391,695.29. Following the transaction, the insider owned 20,132 shares in the company, valued at approximately $3,662,614.76. This represents a 9.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

WEX Trading Down 1.4%

Shares of WEX stock opened at $179.74 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 3.00. WEX Inc. has a twelve month low of $125.29 and a twelve month high of $203.99. The company’s 50-day moving average price is $183.45 and its 200-day moving average price is $165.58. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.72 and a beta of 0.93.

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, October 28th. The business services provider reported $6.13 earnings per share (EPS) 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 firm had revenue of $780.10 million during the quarter, compared to analysts’ expectations of $749.74 million. During the same period last year, the business earned $4.59 earnings per share. WEX’s revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that WEX Inc. will post 18.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WEX. Janus Henderson Group PLC raised its stake in shares of WEX by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 3,916,073 shares of the business services provider’s stock valued at $599,313,000 after acquiring an additional 44,031 shares during the period. Jupiter Topco LLC purchased a new position in shares of WEX during the 2nd quarter worth approximately $559,710,000. BlackRock Inc. purchased a new position in shares of WEX during the 2nd quarter worth approximately $446,833,000. Boston Partners boosted its position in shares of 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 purchasing an additional 66,150 shares during the period. Finally, Bank of America Corp DE increased its holdings in WEX by 13.6% in 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WEX. UBS Group raised their price target on shares of WEX from $180.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Morgan Stanley upped their price objective on WEX from $172.00 to $178.00 and gave the company an “equal weight” rating in a report on Tuesday, October 27th. Piper Sandler assumed coverage on WEX in a research report on Thursday, September 10th. They issued a “neutral” rating and a $209.00 price objective for the company. Wall Street Zen upgraded WEX from a “hold” rating to a “buy” rating in a research report on Sunday, November 8th. Finally, Deutsche Bank reissued a “hold” rating on shares of WEX in a research note on Thursday, September 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $191.10.

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.