WEX (NYSE:WEX) Stock: Insider Sachin Dhawan Sells 3,873 Shares

WEX Inc. (NYSE:WEX) CTO Sachin Dhawan sold 3,873 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $183.05, for a total transaction of $708,952.65. Following the transaction, the chief technology officer directly owned 11,286 shares of the company’s stock, valued at approximately $2,065,902.30. This trade represents a 25.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

WEX Trading Up 0.2%

Shares of WEX stock traded up $0.39 during trading on Thursday, reaching $180.50. 840,063 shares of the stock were exchanged, compared to its average volume of 579,610. 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 stock’s fifty day moving average is $184.99 and its 200 day moving average is $164.88. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 0.73 and a beta of 0.93. WEX Inc. has a 1 year low of $125.29 and a 1 year high of $203.99.

WEX (NYSE:WEX) last announced its quarterly earnings results on Wednesday, October 28th. The business services provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.68 by $0.45. The company had revenue of $780.10 million for the quarter, compared to the consensus estimate of $749.74 million. WEX had a return on equity of 45.74% and a net margin of 14.05%. WEX’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.59 EPS. As a group, equities research analysts expect that WEX Inc. will post 18.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WEX has been the subject of a number of recent analyst reports. Weiss Ratings upgraded WEX from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 30th. Zacks Research raised shares of WEX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Wall Street Zen raised shares of WEX from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Mizuho raised their price objective on shares of WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, Cantor Fitzgerald raised their price objective on shares of WEX from $178.00 to $189.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, WEX presently has an average rating of “Moderate Buy” and an average price target of $191.10.

Institutional Investors Weigh In On WEX

Several hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its stake in shares of WEX by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 3,916,073 shares of the business services provider’s stock worth $599,313,000 after buying an additional 44,031 shares during the last quarter. Jupiter Topco LLC bought a new position in shares of WEX during the second quarter valued at $559,710,000. BlackRock Inc. bought a new position in shares of WEX during the second quarter valued at $446,833,000. Bank of America Corp DE raised its position in shares of WEX by 13.6% in the 1st quarter. Bank of America Corp DE now owns 823,681 shares of the business services provider’s stock worth $126,056,000 after purchasing an additional 98,524 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. raised its position in shares of WEX by 58.5% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 669,335 shares of the business services provider’s stock worth $102,435,000 after purchasing an additional 246,923 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

About WEX

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.