WEX (NYSE:WEX) Director Sells $36,200,000.00 in Stock

WEX Inc. (NYSE:WEX) Director Lauren Taylor Wolfe sold 200,000 shares of WEX stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $181.00, for a total transaction of $36,200,000.00. Following the sale, the director directly owned 1,507,457 shares of the company’s stock, valued at $272,849,717. This represents a 11.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Lauren Taylor Wolfe also recently made the following trade(s):

• On Friday, November 6th, Lauren Taylor Wolfe sold 34,577 shares of WEX stock. The shares were sold at an average price of $184.19, for a total value of $6,368,737.63.

WEX Trading Up 0.2%

Shares of WEX stock traded up $0.35 during trading hours on Monday, reaching $182.57. The company had a trading volume of 621,779 shares, compared to its average volume of 579,670. WEX Inc. has a 1-year low of $125.29 and a 1-year high of $203.99. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 0.72 and a beta of 0.93. The company has a 50 day moving average of $184.33 and a 200 day moving average of $165.15.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, October 28th. The business services provider reported $6.13 EPS for the quarter, topping analysts’ consensus estimates of $5.68 by $0.45. The business had revenue of $780.10 million during the quarter, compared to analysts’ expectations of $749.74 million. WEX had a return on equity of 45.74% and a net margin of 14.05%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.59 earnings per share. On average, equities research analysts anticipate that WEX Inc. will post 18.19 EPS for the current year.

Institutional Trading of WEX

Several hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new position in WEX in the third quarter valued at about $25,000. Global Retirement Partners LLC bought a new stake in shares of WEX in the second quarter worth about $26,000. Heritage Family Offices LLP acquired a new stake in shares of WEX during the third quarter worth about $43,000. Covestor Ltd raised its position in shares of WEX by 97.8% during the third quarter. Covestor Ltd now owns 267 shares of the business services provider’s stock worth $45,000 after purchasing an additional 132 shares during the period. Finally, Reyes Financial Architecture Inc. acquired a new stake in shares of WEX during the third quarter worth about $47,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

Analyst Ratings Changes

WEX has been the subject of a number of recent analyst reports. Wall Street Zen raised WEX from a “hold” rating to a “buy” rating in a research note on Sunday. UBS Group increased 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. Weiss Ratings raised shares of WEX from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. Zacks Research upgraded shares of WEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 3rd. Finally, 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 for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, WEX presently has a consensus rating of “Moderate Buy” and an average 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.

WEX also provides employee benefits administration, including platforms and services for health savings accounts, flexible spending accounts, commuter benefits and COBRA administration.