Insider Selling: WEX Inc. (NYSE:WEX) CFO Sells 508 Shares of Stock

WEX Inc. (NYSE:WEX) CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Jagtar Narula also recently made the following trade(s):

• On Tuesday, July 16th, Jagtar Narula sold 540 shares of WEX stock. The stock was sold at an average price of $190.00, for a total value of $102,600.00.
• On Monday, July 8th, Jagtar Narula sold 540 shares of WEX stock. The stock was sold at an average price of $180.00, for a total transaction of $97,200.00.

WEX Stock Up 1.7 %

WEX traded up $3.38 during trading on Tuesday, hitting $202.80. 409,942 shares of the company’s stock traded hands, compared to its average volume of 335,129. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 1.15 and a beta of 1.54. The company’s 50 day simple moving average is $183.33 and its two-hundred day simple moving average is $199.33. WEX Inc. has a 12-month low of $161.95 and a 12-month high of $244.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66.

WEX (NYSE:WEX) last posted its earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.09. WEX had a return on equity of 31.05% and a net margin of 9.32%. The company had revenue of $673.50 million for the quarter, compared to the consensus estimate of $677.44 million. Analysts predict that WEX Inc. will post 13.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. William Blair raised WEX to a “strong-buy” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods decreased their price target on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Wells Fargo & Company dropped their target price on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $239.58.

Institutional Trading of WEX

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC purchased a new position in WEX during the 1st quarter valued at $29,000. Principal Securities Inc. purchased a new position in shares of WEX during the fourth quarter worth approximately $31,000. International Assets Investment Management LLC bought a new stake in shares of WEX during the second quarter valued at approximately $33,000. Quarry LP boosted its holdings in shares of WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 165 shares during the period. Finally, Blue Trust Inc. grew its stake in WEX by 456.1% in the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after purchasing an additional 187 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

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.