Stock Traders Buy High Volume of Call Options on WEX (WEX)
WEX Inc (NYSE:WEX) was the target of some unusual options trading on Tuesday. Stock traders acquired 1,541 call options on the stock. This represents an increase of approximately 2,101% compared to the typical volume of 70 call options.
Several equities analysts have weighed in on the company. Barclays raised their price target on WEX from $222.00 to $238.00 and gave the company an “overweight” rating in a report on Monday, May 6th. William Blair reiterated an “outperform” rating on shares of WEX in a report on Tuesday, April 30th. Robert W. Baird assumed coverage on WEX in a report on Thursday, April 4th. They issued a “neutral” rating and a $220.00 target price for the company. BTIG Research set a $225.00 target price on WEX and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Morgan Stanley lifted their target price on WEX from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. WEX has an average rating of “Buy” and a consensus target price of $203.67.
Shares of WEX stock opened at $203.18 on Thursday. The company has a market capitalization of $8.86 billion, a PE ratio of 26.59, a P/E/G ratio of 1.56 and a beta of 1.53. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.47. WEX has a one year low of $131.35 and a one year high of $212.13.
In other WEX news, CEO Melissa D. Smith sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $195.00, for a total transaction of $975,000.00. Following the completion of the transaction, the chief executive officer now owns 80,783 shares in the company, valued at approximately $15,752,685. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Dubyak sold 1,048 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $204.31, for a total value of $214,116.88. Following the transaction, the director now owns 33,484 shares of the company’s stock, valued at approximately $6,841,116.04. The disclosure for this sale can be found here. Insiders have sold a total of 55,511 shares of company stock valued at $11,164,891 in the last 90 days. 4.57% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in WEX by 14.5% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,204,643 shares of the business services provider’s stock valued at $231,279,000 after acquiring an additional 152,398 shares during the period. Texas Permanent School Fund boosted its holdings in WEX by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 28,206 shares of the business services provider’s stock valued at $3,951,000 after acquiring an additional 1,092 shares during the period. Morgan Stanley boosted its holdings in WEX by 41.1% during the 3rd quarter. Morgan Stanley now owns 68,827 shares of the business services provider’s stock valued at $13,818,000 after acquiring an additional 20,040 shares during the period. Vanguard Group Inc boosted its holdings in WEX by 3.0% during the 3rd quarter. Vanguard Group Inc now owns 3,840,898 shares of the business services provider’s stock valued at $771,098,000 after acquiring an additional 111,362 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in WEX by 23.4% during the 4th quarter. California Public Employees Retirement System now owns 95,791 shares of the business services provider’s stock valued at $13,416,000 after acquiring an additional 18,164 shares during the period. Institutional investors own 99.70% of the company’s stock.
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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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