WEX (NYSE:WEX) Director Lauren Taylor Wolfe Sells 34,577 Shares of Company Stock

WEX Inc. (NYSE:WEX) Director Lauren Taylor Wolfe sold 34,577 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $184.19, for a total value of $6,368,737.63. Following the completion of the sale, the director owned 1,472,880 shares of the company’s stock, valued at approximately $271,289,767.20. This trade represents a 2.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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

WEX stock traded up $0.35 during mid-day trading on Monday, reaching $182.57. 621,779 shares of the company were exchanged, compared to its average volume of 579,670. The company has a fifty day simple moving average of $184.33 and a 200-day simple moving average of $165.15. WEX Inc. has a 12 month low of $125.29 and a 12 month 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 PE ratio of 15.71, a PEG ratio of 0.72 and a beta of 0.93.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, October 28th. The business services provider reported $6.13 earnings per share for the quarter, beating the consensus estimate of $5.68 by $0.45. The firm 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 company’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 EPS. As a group, equities research analysts expect that WEX Inc. will post 18.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WEX. Root Financial Partners LLC bought a new stake in WEX during the third quarter worth $25,000. Global Retirement Partners LLC acquired a new stake in shares of WEX in the 2nd quarter valued at $26,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of WEX in the 2nd quarter valued at $41,000. Heritage Family Offices LLP bought a new position in shares of WEX in the 3rd quarter valued at $43,000. Finally, Covestor Ltd increased its stake in shares of WEX by 97.8% in the 3rd quarter. Covestor Ltd now owns 267 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 132 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WEX has been the topic of a number of recent analyst reports. 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. Piper Sandler initiated coverage on shares of WEX in a research report on Thursday, September 10th. They set a “neutral” rating and a $209.00 price objective for the company. Cantor Fitzgerald increased their price objective on shares of WEX from $178.00 to $189.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Evercore upgraded shares of WEX to an “outperform” rating in a research note on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods raised their target price on shares of WEX from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, July 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.