Wise Group (NASDAQ:WSE) Given New $18.00 Price Target at UBS Group

Wise Group (NASDAQ:WSE) had its price objective upped by UBS Group from $17.25 to $18.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on the stock. Canaccord Genuity Group started coverage on shares of Wise Group in a report on Wednesday, September 2nd. They set a “buy” rating on the stock. Monness Crespi & Hardt raised shares of Wise Group to a “strong-buy” rating in a research note on Friday, October 16th. Weiss Ratings raised shares of Wise Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. lifted their price objective on Wise Group from $17.30 to $17.70 and gave the company an “overweight” rating in a report on Friday, October 16th. Finally, Wall Street Zen downgraded shares of Wise Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Wise Group presently has an average rating of “Buy” and a consensus price target of $17.12.

Wise Group Price Performance

WSE stock opened at $11.23 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 1.07. Wise Group has a one year low of $10.36 and a one year high of $17.47. The business has a 50 day moving average of $11.47.

Wise Group (NASDAQ:WSE) last posted its quarterly earnings results on Friday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $726.55 million for the quarter. As a group, sell-side analysts expect that Wise Group will post 0.56 EPS for the current fiscal year.

Insider Activity

In other news, insider Nilan Peiris sold 58,262 shares of the stock in a transaction on Friday, October 16th. The stock was sold at an average price of $11.75, for a total transaction of $684,578.50. Following the completion of the transaction, the insider directly owned 2,516,438 shares in the company, valued at approximately $29,568,146.50. This represents a 2.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Emmanuel Francois Je Thomassin sold 6,040 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $11.75, for a total value of $70,970.00. Following the completion of the sale, the chief financial officer directly owned 4,853 shares in the company, valued at approximately $57,022.75. The trade was a 55.45% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 106,626 shares of company stock valued at $1,252,856 in the last quarter.

Hedge Funds Weigh In On Wise Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WSE. Amundi purchased a new stake in shares of Wise Group in the 2nd quarter valued at about $58,328,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Wise Group in the third quarter valued at about $35,522,000. GW&K Investment Management LLC purchased a new stake in shares of Wise Group in the third quarter valued at approximately $23,303,000. Ninety One UK Ltd increased its holdings in shares of Wise Group by 37.4% in the 3rd quarter. Ninety One UK Ltd now owns 7,195,705 shares of the company’s stock valued at $82,629,000 after purchasing an additional 1,959,751 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Wise Group during the 2nd quarter valued at approximately $14,441,000.

Wise Group Company Profile

Wise Group AB is a Swedish human resources and staffing company that provides recruitment, consulting and related workforce services to employers. Its services have covered areas including information technology, finance, human resources, sales and marketing. The company serves businesses in Sweden through specialist brands and teams focused on different professional fields. Its offerings include permanent recruitment, interim staffing and consulting support. Wise Group was founded in 1999 and is headquartered in Stockholm, Sweden.