Insider Selling: WEX Inc (WEX) CEO Sells 5,000 Shares of Stock

WEX Inc (NYSE:WEX) CEO Melissa D. Smith sold 5,000 shares of WEX stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 75,783 shares in the company, valued at approximately $15,156,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NYSE:WEX traded up $0.80 on Monday, hitting $203.38. The stock had a trading volume of 172,389 shares, compared to its average volume of 377,222. WEX Inc has a twelve month low of $131.35 and a twelve month high of $203.77. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $8.74 billion, a PE ratio of 26.62, a P/E/G ratio of 1.59 and a beta of 1.52.

WEX (NYSE:WEX) last released its quarterly earnings results on Wednesday, March 20th. The business services provider reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.01. WEX had a return on equity of 18.30% and a net margin of 11.18%. The business had revenue of $381.20 million during the quarter, compared to analysts’ expectations of $372.57 million. During the same period in the previous year, the business posted $1.49 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, analysts forecast that WEX Inc will post 8.4 EPS for the current year.

WEX has been the topic of several research analyst reports. Wolfe Research upgraded shares of WEX from a “market perform” rating to an “outperform” rating in a research note on Friday, January 4th. Zacks Investment Research downgraded shares of WEX from a “hold” rating to a “sell” rating in a research note on Sunday, January 6th. Wells Fargo & Co restated an “outperform” rating and issued a $180.00 price objective (down previously from $200.00) on shares of WEX in a research note on Wednesday, January 16th. BTIG Research started coverage on shares of WEX in a research note on Thursday, January 17th. They issued a “buy” rating and a $198.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on shares of WEX in a research note on Monday, January 28th. They set a “hold” rating and a $170.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. WEX has a consensus rating of “Buy” and an average target price of $201.42.

Institutional investors have recently added to or reduced their stakes in the stock. Ffcm LLC raised its holdings in shares of WEX by 50.0% in the fourth quarter. Ffcm LLC now owns 210 shares of the business services provider’s stock valued at $29,000 after buying an additional 70 shares during the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in shares of WEX during the 4th quarter worth about $32,000. Advisory Services Network LLC grew its position in shares of WEX by 79.2% during the 4th quarter. Advisory Services Network LLC now owns 405 shares of the business services provider’s stock worth $57,000 after buying an additional 179 shares during the period. Enlightenment Research LLC acquired a new position in shares of WEX during the 4th quarter worth about $98,000. Finally, Mondrian Capital Management LLC acquired a new position in shares of WEX during the 4th quarter worth about $140,000. 99.07% of the stock is owned by institutional investors and hedge funds.

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WEX Company Profile

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.

Further Reading: Growth Stocks

Insider Buying and Selling by Quarter for WEX (NYSE:WEX)

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