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

WEX Inc. (NYSE:WEX) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $219.55.

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of WEX from $247.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company cut their price objective on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Robert W. Baird decreased their target price on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Bank of America increased their target price on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Citigroup lowered WEX from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $190.00 in a report on Tuesday, January 14th.

Insider Transactions 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 transaction of $33,152.00. Following the sale, the chief operating officer now owns 7,582 shares of the company’s stock, valued at $1,436,334.08. This trade represents a 2.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On WEX

A number of hedge funds have recently modified their holdings of WEX. Venturi Wealth Management LLC raised its position in shares of WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after acquiring an additional 101 shares during the last quarter. Quarry LP increased its position in WEX by 717.4% during the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 165 shares during the period. Wilmington Savings Fund Society FSB bought a new position in WEX during the 3rd quarter worth approximately $35,000. UMB Bank n.a. lifted its position in shares of WEX by 552.5% in the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock worth $46,000 after purchasing an additional 221 shares during the period. Finally, Covestor Ltd boosted its stake in shares of WEX by 47.3% in the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Trading Up 0.4 %

Shares of NYSE:WEX opened at $184.40 on Monday. The company has a 50-day simple moving average of $178.78 and a 200 day simple moving average of $186.13. The company has a market capitalization of $7.34 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 1.23 and a beta of 1.58. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. WEX has a 52-week low of $165.51 and a 52-week high of $244.04.

WEX (NYSE:WEX) last issued 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. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. During the same period in the previous year, the company posted $3.44 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that WEX will post 13.09 earnings per share for the current 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.