Wex Inc. (WEX) Director Sells $547,360.00 in Stock
Wex Inc. (NYSE:WEX) Director Michael E. Dubyak sold 5,500 shares of the business’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $99.52, for a total transaction of $547,360.00. Following the sale, the director now directly owns 55,416 shares of the company’s stock, valued at $5,515,000.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Wex Inc. (NYSE:WEX) traded up 1.64% during midday trading on Wednesday, hitting $104.52. 259,038 shares of the stock were exchanged. Wex Inc. has a 12-month low of $54.42 and a 12-month high of $114.59. The stock’s 50 day moving average is $105.42 and its 200 day moving average is $97.29. The firm has a market cap of $4.47 billion, a P/E ratio of 54.52 and a beta of 1.85.
Wex (NYSE:WEX) last released its quarterly earnings results on Thursday, October 27th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.12. The business had revenue of $287.80 million for the quarter, compared to the consensus estimate of $279.28 million. Wex had a net margin of 8.11% and a return on equity of 13.70%. Wex’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. On average, equities research analysts forecast that Wex Inc. will post $4.56 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE raised its position in Wex by 41.2% in the third quarter. US Bancorp DE now owns 959 shares of the company’s stock worth $104,000 after buying an additional 280 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Wex by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,278 shares of the company’s stock worth $138,000 after buying an additional 152 shares during the last quarter. LS Investment Advisors LLC raised its position in Wex by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock worth $207,000 after buying an additional 993 shares during the last quarter. Penserra Capital Management LLC raised its position in Wex by 6.0% in the second quarter. Penserra Capital Management LLC now owns 2,344 shares of the company’s stock worth $208,000 after buying an additional 133 shares during the last quarter. Finally, Raymond James Trust N.A. purchased a new position in Wex during the third quarter worth about $211,000. Institutional investors and hedge funds own 92.49% of the company’s stock.
WEX has been the subject of a number of research reports. Jefferies Group reaffirmed a “buy” rating and set a $127.00 price target on shares of Wex in a research report on Sunday, October 23rd. Zacks Investment Research raised shares of Wex from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Thursday, September 29th. Morgan Stanley upped their price target on shares of Wex from $94.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Deutsche Bank AG upped their price target on shares of Wex from $83.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, July 28th. Finally, TheStreet cut shares of Wex from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Wex has an average rating of “Hold” and a consensus target price of $99.50.
WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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