Melanie J. Tinto Sells 1,564 Shares of WEX Inc. (NYSE:WEX) Stock

WEX Inc. (NYSE:WEX) insider Melanie J. Tinto sold 1,564 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total value of $289,402.56. Following the transaction, the insider now directly owns 8,461 shares in the company, valued at approximately $1,565,623.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

WEX Stock Down 1.8 %

Shares of NYSE:WEX traded down $3.28 on Thursday, hitting $180.17. 374,823 shares of the company’s stock were exchanged, compared to its average volume of 337,535. The firm’s 50-day moving average is $179.99 and its 200 day moving average is $205.51. The company has a market capitalization of $7.40 billion, a PE ratio of 29.77, a P/E/G ratio of 1.10 and a beta of 1.54. WEX Inc. has a 1-year low of $161.95 and a 1-year high of $244.04. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03.

Analysts Set New Price Targets

Several research analysts recently weighed in on WEX shares. Robert W. Baird lifted their price target on WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. lowered their price target on WEX from $246.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company lowered their price target on WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, July 26th. Citigroup lifted their price target on WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods reduced their price objective on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $240.42.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in WEX during the 4th quarter valued at approximately $89,745,000. Kodai Capital Management LP purchased a new stake in WEX during the 4th quarter valued at approximately $49,750,000. Wellington Management Group LLP raised its stake in WEX by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after acquiring an additional 179,813 shares during the last quarter. Handelsbanken Fonder AB raised its stake in WEX by 2,524.0% during the 4th quarter. Handelsbanken Fonder AB now owns 163,844 shares of the business services provider’s stock valued at $31,876,000 after acquiring an additional 157,600 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of WEX by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock worth $816,919,000 after buying an additional 67,893 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

About WEX

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.