Discover the latest insider transaction at WEX Inc. (NYSE:WEX) as CFO Jagtar Narula sells 540 shares. Is this a signal for investors to take note of? Find out more here!
On July 8, Jagtar Narula, the CFO of WEX Inc., sold 540 shares at $180 per share, totaling $97,200. This sale was part of a pre-arranged trading plan to avoid insider trading accusations. WEX Inc. is a business services provider based in Portland, Maine.
Insider sales can offer insights into the company's valuation and future prospects, but transactions under Rule 10b5-1 plans are pre-planned and may not reflect the insider's view on the company's financial health. WEX Inc. recently reported a record first-quarter revenue of $653 million but missed analyst expectations on adjusted EPS by $0.02.
Legal wins against HP Inc. for trademark infringement, extended partnerships with Shell and Booking.com, and the launch of WEX EV At-Home show the company's diversification and growth. Analysts have raised WEX's stock price target, but caution is advised due to recent stock volatility.
Analysis:
WEX Inc. remains a key player in the industry with a market cap of $7.43 billion. Revenue growth and a low P/E ratio indicate potential for future earnings growth. However, downward revisions by analysts and recent stock volatility suggest a cautious approach. Investors can access more insights on WEX's financials at InvestingPro and enjoy a discount using the code PRONEWS24.
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