WEX (NYSE:WEX) CTO Sachin Dhawan Sells 3,873 Shares of Company Stock

WEX Inc. (NYSE:WEX) CTO Sachin Dhawan sold 3,873 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $183.05, for a total transaction of $708,952.65. Following the completion of the transaction, the chief technology officer owned 11,286 shares in the company, valued at approximately $2,065,902.30. This trade represents a 25.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

WEX Price Performance

Shares of WEX stock opened at $180.50 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 3.00. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 0.71 and a beta of 0.93. WEX Inc. has a 1-year low of $125.29 and a 1-year high of $203.99. The firm’s 50-day moving average price is $184.64 and its two-hundred day moving average price is $165.00.

WEX (NYSE:WEX) last posted its earnings results on Wednesday, October 28th. The business services provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.68 by $0.45. The company had revenue of $780.10 million during the quarter, compared to analysts’ expectations of $749.74 million. WEX had a net margin of 14.05% and a return on equity of 45.74%. WEX’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.59 earnings per share. On average, equities analysts predict that WEX Inc. will post 18.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WEX shares. Cantor Fitzgerald boosted their price objective on WEX from $178.00 to $189.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. UBS Group increased their target price on WEX from $180.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of WEX in a research note on Thursday, September 24th. Piper Sandler began coverage on WEX in a research note on Thursday, September 10th. They issued a “neutral” rating and a $209.00 target price for the company. Finally, Weiss Ratings raised WEX from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $191.10.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in shares of WEX by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 3,916,073 shares of the business services provider’s stock valued at $599,313,000 after acquiring an additional 44,031 shares during the last quarter. Jupiter Topco LLC bought a new position in WEX during the 2nd quarter worth approximately $559,710,000. BlackRock Inc. bought a new position in WEX during the 2nd quarter worth approximately $446,833,000. Bank of America Corp DE boosted its stake in WEX by 13.6% during the 1st quarter. Bank of America Corp DE now owns 823,681 shares of the business services provider’s stock worth $126,056,000 after acquiring an additional 98,524 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. grew its holdings in WEX by 58.5% during the first quarter. Turtle Creek Asset Management Inc. now owns 669,335 shares of the business services provider’s stock valued at $102,435,000 after purchasing an additional 246,923 shares during the period. 97.47% of the stock is currently owned by institutional investors.

WEX Company Profile

WEX Inc (NYSE:WEX) is a financial technology company that provides payment-processing and business-management solutions. Its products are designed to help organizations manage corporate spending, employee benefits and mobility-related expenses through specialized payment accounts, software and data tools.

WEX’s mobility business serves commercial vehicle fleets with fuel cards, fleet-payment programs, expense controls, telematics integrations and related solutions. The company also supports emerging mobility needs, including electric-vehicle charging payments.