Insider Selling: WEX Inc. (NYSE:WEX) COO Sells 175 Shares of Stock

WEX Inc. (NYSE:WEX) COO Robert Joseph Deshaies sold 175 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the transaction, the chief operating officer now directly owns 7,582 shares in the company, valued at $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

WEX Price Performance

Shares of NYSE:WEX traded down $3.29 during trading on Tuesday, reaching $186.00. 228,747 shares of the company’s stock traded hands, compared to its average volume of 358,529. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. WEX Inc. has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. The company has a 50-day simple moving average of $194.12 and a 200-day simple moving average of $187.10. The firm has a market cap of $7.40 billion, a PE ratio of 23.69, a P/E/G ratio of 1.50 and a beta of 1.57.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The business had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $688.03 million. During the same period in the previous year, the business earned $3.44 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, analysts predict that WEX Inc. will post 13.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WEX. Robert W. Baird decreased their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Bank of America lifted their price objective on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group upped their target price on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price target on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Finally, Wolfe Research lowered WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

Institutional Trading of WEX

Several institutional investors have recently modified their holdings of WEX. Venturi Wealth Management LLC boosted its stake in shares of WEX by 206.1% in the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after acquiring an additional 101 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of WEX in the third quarter worth about $35,000. International Assets Investment Management LLC purchased a new stake in WEX during the 2nd quarter valued at about $33,000. Quarry LP raised its holdings in WEX by 717.4% in the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 165 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in WEX by 456.1% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after buying an additional 187 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

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.