WEX (NYSE:WEX) CFO Jagtar Narula Sells 1,667 Shares of Company Stock

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

WEX Stock Performance

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

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, October 28th. The business services provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.68 by $0.45. The business had revenue of $780.10 million during the quarter, compared to analyst estimates of $749.74 million. WEX had a net margin of 14.05% and a return on equity of 45.74%. WEX’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business earned $4.59 EPS. Sell-side analysts expect that WEX Inc. will post 18.19 EPS for the current fiscal year.

Institutional Trading of WEX

A number of institutional investors have recently made changes to their positions in WEX. First Trust Advisors LP raised its holdings in shares of WEX by 18.2% during the third quarter. First Trust Advisors LP now owns 43,275 shares of the business services provider’s stock valued at $7,300,000 after purchasing an additional 6,654 shares during the last quarter. Boston Partners boosted its holdings in WEX by 4.4% in the third 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 last quarter. Meeder Asset Management Inc. purchased a new stake in WEX in the third quarter worth approximately $910,000. Landscape Capital Management L.L.C. bought a new stake in WEX in the 3rd quarter worth approximately $289,000. Finally, Global Retirement Partners LLC grew its position in WEX by 322.8% in the 3rd quarter. Global Retirement Partners LLC now owns 778 shares of the business services provider’s stock worth $131,000 after purchasing an additional 594 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

WEX has been the subject of several analyst reports. UBS Group raised their price target on shares of WEX from $180.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Cantor Fitzgerald upped their price objective on WEX from $178.00 to $189.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Wall Street Zen upgraded WEX from a “hold” rating to a “buy” rating in a research note on Sunday, November 8th. Deutsche Bank reissued a “hold” rating on shares of WEX in a report on Thursday, September 24th. Finally, Zacks Research raised WEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 3rd. One investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.10.

WEX Company Profile

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.