WEX Inc. (NYSE:WEX) CAO Sells $183,512.00 in Stock

WEX Inc. (NYSE:WEX - Get Free Report) CAO Jennifer Kimball sold 1,400 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $131.08, for a total value of $183,512.00. Following the transaction, the chief accounting officer now directly owns 3,177 shares in the company, valued at $416,441.16. The trade was a 30.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

WEX Trading Up 1.4%

Shares of WEX traded up $1.92 during mid-day trading on Wednesday, reaching $138.54. The company's stock had a trading volume of 695,888 shares, compared to its average volume of 567,341. The stock has a market cap of $4.74 billion, a PE ratio of 18.47, a P/E/G ratio of 2.06 and a beta of 1.26. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $217.47. The company's fifty day moving average price is $131.55 and its two-hundred day moving average price is $156.73.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.40 by $0.11. WEX had a net margin of 11.78% and a return on equity of 32.35%. The firm had revenue of $636.60 million during the quarter, compared to analyst estimates of $631.42 million. During the same period in the previous year, the business posted $3.46 EPS. The business's quarterly revenue was down 2.5% on a year-over-year basis. On average, analysts predict that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WEX. JPMorgan Chase & Co. increased its stake in shares of WEX by 105.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider's stock worth $358,812,000 after buying an additional 1,052,087 shares during the period. Hsbc Holdings PLC increased its stake in shares of WEX by 20,412.8% in the first quarter. Hsbc Holdings PLC now owns 638,563 shares of the business services provider's stock worth $99,069,000 after buying an additional 635,450 shares during the period. Norges Bank purchased a new position in shares of WEX in the fourth quarter worth $80,535,000. Millennium Management LLC increased its stake in shares of WEX by 652.7% in the first quarter. Millennium Management LLC now owns 412,665 shares of the business services provider's stock worth $64,797,000 after buying an additional 357,842 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of WEX by 158.3% in the first quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider's stock worth $55,097,000 after buying an additional 215,036 shares during the period. 97.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays lowered their price target on WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a research report on Monday, February 10th. Robert W. Baird set a $186.00 price objective on WEX in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods reduced their price objective on WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Oppenheimer began coverage on WEX in a research note on Thursday, May 15th. They issued a "market perform" rating for the company. Finally, Mizuho reduced their price objective on WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, WEX presently has an average rating of "Hold" and a consensus target price of $176.90.

About WEX

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.

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