WEX Inc. (NYSE:WEX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of WEX Inc. (NYSE:WEX) have received an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $228.64.

Several research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Jefferies Financial Group boosted their price objective on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird cut their target price on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Finally, Barclays reaffirmed an “equal weight” rating and set a $200.00 price target (down from $207.00) on shares of WEX in a report on Tuesday.

Insider Activity at WEX

In related news, COO Robert Joseph Deshaies sold 175 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the transaction, the chief operating officer now directly owns 7,582 shares of the company’s stock, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of WEX

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC grew its stake in shares of WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 101 shares during the period. International Assets Investment Management LLC purchased a new position in WEX during the second quarter valued at approximately $33,000. Quarry LP boosted its position in shares of WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after purchasing an additional 165 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of WEX in the third quarter worth $35,000. Finally, Blue Trust Inc. raised its position in shares of WEX by 456.1% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Performance

Shares of WEX opened at $167.90 on Thursday. WEX has a 52 week low of $165.51 and a 52 week high of $244.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. The stock has a market cap of $6.68 billion, a P/E ratio of 21.31, a P/E/G ratio of 1.39 and a beta of 1.57. The business’s 50 day moving average price is $188.00 and its 200-day moving average price is $186.39.

WEX (NYSE:WEX) last released its earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $3.82 by $0.53. The business had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.44 earnings per share. Equities research analysts anticipate that WEX will post 13.1 earnings per share for the current fiscal year.

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.