Investors Purchase Large Volume of Put Options on WEX (WEX)
WEX Inc. (NYSE:WEX) saw some unusual options trading on Wednesday. Traders purchased 694 put options on the company. This is an increase of approximately Infinity compared to the average volume of 0 put options.
In other WEX news, CEO Melissa D. Smith sold 3,333 shares of the stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $115.00, for a total value of $383,295.00. Following the sale, the chief executive officer now owns 67,047 shares of the company’s stock, valued at approximately $7,710,405. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hilary A. Rapkin sold 2,500 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $115.00, for a total value of $287,500.00. Following the completion of the sale, the senior vice president now directly owns 15,224 shares in the company, valued at approximately $1,750,760. The disclosure for this sale can be found here. Insiders sold a total of 2,399,171 shares of company stock worth $245,448,880 in the last ninety days. 0.86% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in WEX. UBS Asset Management Americas Inc. grew its stake in WEX by 23.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 23,782 shares of the business services provider’s stock worth $2,461,000 after buying an additional 4,510 shares during the last quarter. Prudential Financial Inc. grew its stake in WEX by 5.9% during the 1st quarter. Prudential Financial Inc. now owns 23,963 shares of the business services provider’s stock worth $2,480,000 after buying an additional 1,325 shares during the last quarter. Alliancebernstein L.P. grew its stake in WEX by 2.7% during the 1st quarter. Alliancebernstein L.P. now owns 25,395 shares of the business services provider’s stock worth $2,628,000 after buying an additional 670 shares during the last quarter. Legal & General Group Plc grew its stake in WEX by 68.7% during the 1st quarter. Legal & General Group Plc now owns 34,893 shares of the business services provider’s stock worth $3,611,000 after buying an additional 14,211 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in WEX by 12.1% during the 1st quarter. Thrivent Financial For Lutherans now owns 7,300 shares of the business services provider’s stock worth $756,000 after buying an additional 790 shares during the last quarter.
WEX (NYSE:WEX) opened at $121.36 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5,276.71, a PE ratio of 25.67, a P/E/G ratio of 1.77 and a beta of 1.88.
WEX (NYSE:WEX) last released its quarterly earnings results on Wednesday, November 1st. The business services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.14. The firm had revenue of $324.00 million for the quarter, compared to the consensus estimate of $312.57 million. WEX had a return on equity of 13.16% and a net margin of 7.09%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. analysts forecast that WEX will post 4.86 earnings per share for the current year.
WEX declared that its board has initiated a share repurchase program on Tuesday, September 26th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
WEX has been the topic of a number of analyst reports. TheStreet raised WEX from a “c+” rating to a “b” rating in a research report on Wednesday. Keefe, Bruyette & Woods set a $130.00 price target on WEX and gave the company a “buy” rating in a research report on Sunday, August 13th. BidaskClub raised WEX from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Goldman Sachs Group, Inc. (The) raised WEX from a “neutral” rating to a “buy” rating and increased their price target for the company from $114.00 to $126.00 in a research report on Monday, September 11th. Finally, Zacks Investment Research raised WEX from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a research report on Friday, October 13th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. WEX has an average rating of “Buy” and a consensus target price of $127.67.
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WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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