WEX (NYSE:WEX) Stock: Insider Sachin Dhawan Sells 3,873 Shares

Key Points

• CTO Sachin Dhawan sold 3,873 WEX shares at an average price of $183.05, totaling about $709,000. He retained 11,286 shares after the sale, a 25.55% reduction in his direct ownership.
• WEX reported quarterly earnings of $6.13 per share, topping the $5.68 consensus estimate, while revenue of $780.1 million exceeded forecasts and rose 12.8% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $191.10; WEX shares were trading at $180.50 in the article.

WEX Inc. (NYSE:WEX - Get Free Report) CTO Sachin Dhawan sold 3,873 shares of the business's stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $183.05, for a total value of $708,952.65. Following the completion of the transaction, the chief technology officer directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

WEX Trading Up 0.2%

Shares of WEX stock traded up $0.39 on Thursday, reaching $180.50. 840,063 shares of the company's stock were exchanged, compared to its average volume of 579,610. The company has a market capitalization of $5.93 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 0.73 and a beta of 0.93. WEX Inc. has a 52 week low of $125.29 and a 52 week high of $203.99. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.03 and a current ratio of 1.03. The firm's 50-day moving average is $184.99 and its two-hundred day moving average is $164.88.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The business services provider reported $6.13 earnings per share for the quarter, beating the consensus estimate of $5.68 by $0.45. The company had revenue of $780.10 million during the quarter, compared to analyst estimates of $749.74 million. WEX had a net margin of 14.05% and a return on equity of 45.74%. WEX's revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.59 EPS. Sell-side analysts predict that WEX Inc. will post 18.01 EPS for the current fiscal year.

Institutional Investors Weigh In On WEX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaCore Capital LLC purchased a new position in WEX in the 3rd quarter worth approximately $335,000. Leuthold Group LLC purchased a new stake in shares of WEX during the third quarter valued at approximately $372,000. Fulcrum Asset Management LLP grew its holdings in shares of WEX by 7.8% in the third quarter. Fulcrum Asset Management LLP now owns 9,225 shares of the business services provider's stock worth $1,582,000 after purchasing an additional 668 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of WEX in the third quarter worth approximately $831,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of WEX in the third quarter worth approximately $224,000. 97.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WEX shares. Mizuho raised their target price on WEX from $170.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Morgan Stanley lifted their target price on WEX from $172.00 to $178.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 27th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of WEX in a research report on Thursday, September 24th. Wall Street Zen upgraded shares of WEX from a "hold" rating to a "buy" rating in a report on Saturday, October 31st. Finally, Cantor Fitzgerald lifted their price objective on shares of WEX from $178.00 to $189.00 and gave the stock a "neutral" rating in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, WEX presently has a consensus rating of "Moderate Buy" and an average target price of $191.10.

About WEX

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.

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