Rowland Moriarty Sells 2,500 Shares of WEX Inc (WEX) Stock

WEX Inc (NYSE:WEX) Director Rowland Moriarty sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $202.13, for a total transaction of $505,325.00. Following the completion of the transaction, the director now owns 38,032 shares of the company’s stock, valued at $7,687,408.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of WEX opened at $201.91 on Friday. The firm has a market cap of $8.77 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 1.56 and a beta of 1.53. The company has a quick ratio of 1.47, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. WEX Inc has a 1-year low of $131.35 and a 1-year high of $212.13.

WEX (NYSE:WEX) last announced its earnings results on Thursday, May 2nd. The business services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.19. The business had revenue of $381.90 million during the quarter, compared to analyst estimates of $379.57 million. WEX had a net margin of 8.84% and a return on equity of 17.88%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 EPS. Sell-side analysts expect that WEX Inc will post 8.64 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cleararc Capital Inc. bought a new stake in shares of WEX during the 1st quarter valued at $213,000. FMR LLC grew its position in shares of WEX by 46.7% during the 1st quarter. FMR LLC now owns 584,446 shares of the business services provider’s stock valued at $112,208,000 after acquiring an additional 185,964 shares during the period. BlueMountain Capital Management LLC grew its position in shares of WEX by 95.4% during the 1st quarter. BlueMountain Capital Management LLC now owns 30,713 shares of the business services provider’s stock valued at $5,897,000 after acquiring an additional 14,995 shares during the period. Jane Street Group LLC bought a new stake in shares of WEX during the 1st quarter valued at $238,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of WEX by 4.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,164 shares of the business services provider’s stock valued at $418,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 99.70% of the company’s stock.

WEX has been the subject of a number of recent analyst reports. William Blair restated an “outperform” rating on shares of WEX in a report on Thursday, March 21st. BTIG Research set a $225.00 price objective on shares of WEX and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Morgan Stanley boosted their price objective on shares of WEX from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Barclays boosted their target price on shares of WEX from $222.00 to $238.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Finally, Mizuho boosted their target price on shares of WEX from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $203.67.

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About WEX

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.

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