WEX Inc. (NYSE:WEX) Receives $237.14 Consensus PT from Analysts

WEX Inc. (NYSE:WEX) has earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $237.14.

WEX has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of WEX from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, April 12th. Citigroup boosted their price target on shares of WEX from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Robert W. Baird raised their price objective on WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Evercore ISI lifted their price objective on WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, Wells Fargo & Company began coverage on WEX in a report on Wednesday, June 5th. They set an “equal weight” rating and a $200.00 price target for the company.

WEX Trading Down 0.9 %

NYSE WEX opened at $175.46 on Thursday. The stock’s 50-day simple moving average is $192.07 and its two-hundred day simple moving average is $207.67. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 1.03 and a beta of 1.55. WEX has a twelve month low of $161.95 and a twelve month high of $244.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.73.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.15. The business had revenue of $652.70 million during the quarter, compared to the consensus estimate of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. Research analysts forecast that WEX will post 13.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Sara Trickett sold 734 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total transaction of $154,455.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Jennifer Kimball sold 1,200 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total value of $253,860.00. Following the completion of the sale, the chief accounting officer now directly owns 1,909 shares in the company, valued at approximately $403,848.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sara Trickett sold 734 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total value of $154,455.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,831 shares of company stock worth $808,602. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WEX. VisionPoint Advisory Group LLC lifted its holdings in WEX by 74.7% during the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 62 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of WEX during the fourth quarter worth about $27,000. Rise Advisors LLC purchased a new stake in WEX during the 1st quarter valued at approximately $29,000. Principal Securities Inc. purchased a new position in shares of WEX in the fourth quarter worth $31,000. Finally, Covestor Ltd boosted its position in shares of WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after acquiring an additional 131 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors.

About WEX

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.