Key Points
- WEX Director Lauren Taylor Wolfe sold 34,577 shares for about $6.37 million on November 6, following a 200,000-share sale worth $36.2 million the day before. She retained 1,472,880 shares after the latest transaction.
- WEX reported quarterly EPS of $6.13, above the $5.68 analyst consensus, while revenue rose 12.8% year over year to $780.1 million.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $191.10; shares opened at $182.57.
WEX Inc. (NYSE:WEX - Get Free Report) Director Lauren Taylor Wolfe sold 34,577 shares of the firm's stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $184.19, for a total value of $6,368,737.63. Following the completion of the transaction, the director owned 1,472,880 shares of the company's stock, valued at approximately $271,289,767.20. The trade was a 2.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Lauren Taylor Wolfe also recently made the following trade(s):
- On Thursday, November 5th, Lauren Taylor Wolfe sold 200,000 shares of WEX stock. The stock was sold at an average price of $181.00, for a total value of $36,200,000.00.
WEX Price Performance
Shares of NYSE WEX opened at $182.57 on Tuesday. WEX Inc. has a 52 week low of $125.29 and a 52 week high of $203.99. The business's 50 day moving average price is $184.05 and its 200 day moving average price is $165.27. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 3.00. The firm has a market cap of $6.00 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 quarterly earnings results on Wednesday, October 28th. The business services provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.68 by $0.45. WEX had a net margin of 14.05% and a return on equity of 45.74%. The company had revenue of $780.10 million during the quarter, compared to analyst estimates of $749.74 million. During the same period last year, the firm posted $4.59 EPS. WEX's revenue for the quarter was up 12.8% compared to the same quarter last year. On average, sell-side analysts expect that WEX Inc. will post 18.19 earnings per share for the current year.
Institutional Trading of WEX
A number of hedge funds and other institutional investors have recently made changes to their positions in WEX. Root Financial Partners LLC acquired a new position in WEX during the third quarter worth approximately $25,000. Global Retirement Partners LLC purchased a new stake in WEX in the 2nd quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in WEX during the second quarter worth $41,000. Heritage Family Offices LLP purchased a new position in shares of WEX in the 3rd quarter valued at about $43,000. Finally, Covestor Ltd increased its holdings in WEX by 97.8% in the third quarter. Covestor Ltd now owns 267 shares of the business services provider's stock valued at $45,000 after buying an additional 132 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently commented on WEX. Morgan Stanley raised their price objective on shares of WEX from $172.00 to $178.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 27th. Piper Sandler began coverage on shares of WEX in a research note on Thursday, September 10th. They issued a "neutral" rating and a $209.00 target price on the stock. Weiss Ratings raised shares of WEX from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 30th. UBS Group upped their price target on WEX from $180.00 to $195.00 and gave the stock a "neutral" rating in a research note on Friday, October 30th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of WEX in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, WEX has an average rating of "Moderate Buy" and a consensus target price of $191.10.
Get Our Latest Stock Analysis on WEX
About WEX
(
Get Free Report)
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.
WEX also provides employee benefits administration, including platforms and services for health savings accounts, flexible spending accounts, commuter benefits and COBRA administration.
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