WEX Inc. (NYSE:WEX) CFO Jagtar Narula Sells 508 Shares

WEX Inc. (NYSE:WEX) CFO Jagtar Narula sold 508 shares of WEX stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Jagtar Narula also recently made the following trade(s):

• On Tuesday, July 16th, Jagtar Narula sold 540 shares of WEX stock. The shares were sold at an average price of $190.00, for a total transaction of $102,600.00.
• On Monday, July 8th, Jagtar Narula sold 540 shares of WEX stock. The shares were sold at an average price of $180.00, for a total transaction of $97,200.00.

WEX Price Performance

Shares of NYSE WEX opened at $202.80 on Wednesday. The firm has a market cap of $8.33 billion, a PE ratio of 32.98, a PEG ratio of 1.19 and a beta of 1.54. The firm has a fifty day moving average of $183.83 and a 200 day moving average of $199.21. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. WEX Inc. has a one year low of $161.95 and a one year high of $244.04.

WEX (NYSE:WEX) last released its earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.09. WEX had a net margin of 9.32% and a return on equity of 31.05%. The business had revenue of $673.50 million during the quarter, compared to analyst estimates of $677.44 million. As a group, research analysts predict that WEX Inc. will post 13.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WEX. Wellington Management Group LLP lifted its position in WEX by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after buying an additional 179,813 shares during the last quarter. Kodai Capital Management LP acquired a new position in WEX in the fourth quarter valued at about $49,750,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in WEX in the fourth quarter valued at about $3,617,000. Westfield Capital Management Co. LP lifted its position in WEX by 13.3% in the first quarter. Westfield Capital Management Co. LP now owns 258,384 shares of the business services provider’s stock valued at $61,374,000 after buying an additional 30,306 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in WEX by 229.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,164 shares of the business services provider’s stock valued at $989,000 after buying an additional 2,901 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WEX. JPMorgan Chase & Co. cut their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. William Blair raised shares of WEX to a “strong-buy” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods cut their target price on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Finally, Wells Fargo & Company cut their target price on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.58.

WEX Company Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.