Wise Group (NASDAQ:WSE) Price Target Raised to $18.00

Wise Group (NASDAQ:WSE) had its target price increased by stock analysts at UBS Group from $17.25 to $18.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group‘s target price indicates a potential upside of 54.27% from the stock’s current price.

WSE has been the subject of a number of other reports. JPMorgan Chase & Co. upped their target price on shares of Wise Group from $17.30 to $17.70 and gave the company an “overweight” rating in a report on Friday, October 16th. Canaccord Genuity Group assumed coverage on Wise Group in a report on Wednesday, September 2nd. They set a “buy” rating on the stock. Monness Crespi & Hardt raised Wise Group to a “strong-buy” rating in a report on Friday, October 16th. Wall Street Zen cut Wise Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings raised Wise Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 6th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $17.12.

Wise Group Stock Up 6.8%

WSE stock traded up $0.74 on Friday, hitting $11.67. The company’s stock had a trading volume of 6,624,574 shares, compared to its average volume of 1,625,152. The firm’s 50 day simple moving average is $11.51. Wise Group has a 1 year low of $10.36 and a 1 year high of $17.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 1.07.

Wise Group (NASDAQ:WSE) last issued its quarterly earnings results on Friday, November 13th. The company reported $0.12 earnings per share for the quarter. The business had revenue of $726.55 million for the quarter. Sell-side analysts expect that Wise Group will post 0.56 earnings per share for the current year.

Insider Activity at Wise Group

In other Wise Group news, insider Nilan Peiris sold 58,262 shares of the company’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $11.75, for a total transaction of $684,578.50. Following the completion of the transaction, the insider owned 2,516,438 shares in the company, valued at approximately $29,568,146.50. This represents a 2.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Emmanuel Francois Je Thomassin sold 6,040 shares of the firm’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $11.75, for a total transaction of $70,970.00. Following the completion of the sale, the chief financial officer owned 4,853 shares of the company’s stock, valued at $57,022.75. This trade represents a 55.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 106,626 shares of company stock worth $1,252,856 in the last three months.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WSE. TD Waterhouse Canada Inc. purchased a new stake in Wise Group in the 2nd quarter valued at approximately $49,000. Versant Capital Management Inc acquired a new position in Wise Group during the third quarter worth $114,000. R Squared Ltd acquired a new position in Wise Group during the third quarter worth $115,000. Two Sigma Securities LLC acquired a new position in Wise Group during the second quarter worth $125,000. Finally, Global Retirement Partners LLC raised its position in Wise Group by 861.2% in the third quarter. Global Retirement Partners LLC now owns 13,024 shares of the company’s stock worth $148,000 after acquiring an additional 11,669 shares in the last quarter.

About Wise Group

Wise Group AB is a Swedish human resources and staffing company that provides recruitment, consulting and related workforce services to employers. Its services have covered areas including information technology, finance, human resources, sales and marketing. The company serves businesses in Sweden through specialist brands and teams focused on different professional fields. Its offerings include permanent recruitment, interim staffing and consulting support. Wise Group was founded in 1999 and is headquartered in Stockholm, Sweden.