WEX (WEX) Reaches New 1-Year High at $205.00
WEX Inc (NYSE:WEX) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $205.00 and last traded at $204.92, with a volume of 7008 shares. The stock had previously closed at $202.34.
Several research firms recently issued reports on WEX. Mizuho increased their price target on shares of WEX from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. William Blair reissued an “outperform” rating on shares of WEX in a report on Thursday, March 21st. BTIG Research set a $225.00 price target on shares of WEX and gave the stock a “buy” rating in a report on Tuesday, April 2nd. SunTrust Banks increased their target price on shares of WEX from $170.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Robert W. Baird initiated coverage on shares of WEX in a report on Thursday, April 4th. They issued a “neutral” rating and a $220.00 target price for the company. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $201.42.
The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.19. The firm has a market cap of $8.73 billion, a PE ratio of 27.32, a PEG ratio of 1.59 and a beta of 1.52.
In other news, CEO Melissa D. Smith sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 75,783 shares of the company’s stock, valued at approximately $15,156,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicola S. Morris sold 992 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $184.05, for a total transaction of $182,577.60. Following the transaction, the insider now directly owns 11,848 shares of the company’s stock, valued at $2,180,624.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,244 shares of company stock valued at $2,204,713. 4.57% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Alta Capital Management LLC acquired a new position in shares of WEX in the 1st quarter valued at $266,000. Brinker Capital Inc. boosted its holdings in shares of WEX by 14.7% in the 1st quarter. Brinker Capital Inc. now owns 7,685 shares of the business services provider’s stock valued at $1,475,000 after purchasing an additional 985 shares during the last quarter. Eukles Asset Management boosted its holdings in shares of WEX by 3.8% in the 1st quarter. Eukles Asset Management now owns 2,038 shares of the business services provider’s stock valued at $391,000 after purchasing an additional 74 shares during the last quarter. Columbus Circle Investors boosted its holdings in shares of WEX by 26.1% in the 1st quarter. Columbus Circle Investors now owns 177,755 shares of the business services provider’s stock valued at $34,127,000 after purchasing an additional 36,816 shares during the last quarter. Finally, Sciencast Management LP acquired a new position in shares of WEX in the 1st quarter valued at $458,000. 99.48% of the stock is owned by institutional investors and hedge funds.
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About WEX (NYSE:WEX)
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.
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