Key Points
- WEX CTO Sachin Dhawan sold 3,873 shares for about $709,000, reducing his direct holdings by 25.55% to 11,286 shares.
- WEX beat quarterly expectations, reporting adjusted earnings of $6.13 per share versus $5.68 expected and revenue of $780.1 million; revenue rose 12.8% year over year.
- Analysts give WEX a consensus “Moderate Buy” rating with an average price target of $191.10.
WEX Inc. (NYSE:WEX - Get Free Report) CTO Sachin Dhawan sold 3,873 shares of the business's stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $183.05, for a total transaction of $708,952.65. Following the completion of the transaction, the chief technology officer directly owned 11,286 shares of the company's stock, valued at $2,065,902.30. This trade represents a 25.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
WEX Price Performance
WEX opened at $180.50 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 3.00. WEX Inc. has a 12 month low of $125.29 and a 12 month high of $203.99. The company has a fifty day simple moving average of $184.64 and a 200 day simple moving average of $165.00. The stock has a market cap of $5.93 billion, a P/E ratio of 10.96, a P/E/G ratio of 0.71 and a beta of 0.93.
WEX (NYSE:WEX - Get Free Report) last posted its earnings results on Wednesday, October 28th. The business services provider reported $6.13 earnings per share for the quarter, topping the consensus estimate of $5.68 by $0.45. The firm had revenue of $780.10 million for the quarter, compared to analyst estimates of $749.74 million. WEX had a return on equity of 45.74% and a net margin of 14.05%. The company's revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.59 earnings per share. On average, research analysts expect that WEX Inc. will post 18.19 EPS for the current year.
Institutional Investors Weigh In On WEX
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new position in WEX in the 3rd quarter worth $25,000. Global Retirement Partners LLC bought a new position in WEX during the 2nd quarter worth about $26,000. Northwestern Mutual Wealth Management Co. bought a new position in WEX during the 2nd quarter worth about $41,000. Heritage Family Offices LLP bought a new position in WEX during the 3rd quarter worth about $43,000. Finally, Covestor Ltd increased its holdings in WEX by 97.8% during the 3rd quarter. Covestor Ltd now owns 267 shares of the business services provider's stock worth $45,000 after purchasing an additional 132 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on WEX shares. Mizuho raised their price target on WEX from $170.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Morgan Stanley lifted their price objective on WEX from $172.00 to $178.00 and gave the company an "equal weight" rating in a report on Tuesday, October 27th. Keefe, Bruyette & Woods boosted their price objective on WEX from $200.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Zacks Research raised WEX from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Finally, Weiss Ratings raised WEX from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, October 30th. One 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $191.10.
View Our Latest Research Report on WEX
About WEX
(
Get Free Report)
WEX Inc (NYSE:WEX) is a financial technology company that provides payment-processing and business-management solutions. Its products are designed to help organizations manage corporate spending, employee benefits and mobility-related expenses through specialized payment accounts, software and data tools.
WEX's mobility business serves commercial vehicle fleets with fuel cards, fleet-payment programs, expense controls, telematics integrations and related solutions. The company also supports emerging mobility needs, including electric-vehicle charging payments.
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