WEX (NYSE:WEX) Shares Gap Down – Time to Sell?

WEX Inc. (NYSE:WEX)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $213.04, but opened at $180.00. WEX shares last traded at $184.11, with a volume of 422,233 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WEX shares. Keefe, Bruyette & Woods cut their target price on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Bank of America lifted their price objective on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group raised their target price on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. William Blair upgraded WEX to a “strong-buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. dropped their target price on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $239.17.

WEX Stock Down 15.1 %

The company’s 50 day moving average price is $199.61 and its two-hundred day moving average price is $195.12. The firm has a market cap of $7.43 billion, a PE ratio of 31.94, a PEG ratio of 1.19 and a beta of 1.55. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.20 by $0.09. The firm had revenue of $673.50 million for the quarter, compared to the consensus estimate of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. On average, equities research analysts expect that WEX Inc. will post 13.68 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the transaction, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other WEX news, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the completion of the sale, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at $1,409,214.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,905 shares of company stock valued at $895,107 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WEX

Large investors have recently modified their holdings of the business. Westfield Capital Management Co. LP raised its stake in shares of WEX by 13.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 258,384 shares of the business services provider’s stock worth $61,374,000 after acquiring an additional 30,306 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of WEX by 229.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,164 shares of the business services provider’s stock worth $989,000 after acquiring an additional 2,901 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of WEX by 5.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock worth $173,561,000 after acquiring an additional 48,182 shares in the last quarter. Sei Investments Co. raised its stake in shares of WEX by 60.0% during the 1st quarter. Sei Investments Co. now owns 44,981 shares of the business services provider’s stock worth $10,684,000 after acquiring an additional 16,860 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of WEX during the 2nd quarter worth approximately $6,253,000. Institutional investors own 97.47% of the company’s stock.

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.