WEX Inc. (NYSE:WEX) Receives $204.40 Average Price Target from Analysts

WEX Inc. (NYSE:WEXGet Rating) has earned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $204.40.

A number of brokerages have commented on WEX. Barclays cut their price target on shares of WEX from $220.00 to $211.00 and set an “overweight” rating on the stock in a research report on Thursday, September 15th. Mizuho upped their price target on shares of WEX from $212.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Wells Fargo & Company cut their price target on shares of WEX from $210.00 to $194.00 and set an “overweight” rating on the stock in a research report on Thursday, September 8th. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price target on shares of WEX in a research report on Thursday, June 2nd. Finally, Citigroup upgraded shares of WEX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $190.00 to $210.00 in a report on Thursday, June 9th.

Insider Buying and Selling

In related news, insider Melanie J. Tinto sold 766 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $165.69, for a total value of $126,918.54. Following the sale, the insider now owns 6,353 shares in the company, valued at approximately $1,052,628.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other WEX news, COO Robert Joseph Deshaies sold 1,200 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $170.16, for a total value of $204,192.00. Following the completion of the sale, the chief operating officer now owns 8,827 shares in the company, valued at approximately $1,502,002.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Melanie J. Tinto sold 766 shares of the stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $165.69, for a total transaction of $126,918.54. Following the completion of the sale, the insider now owns 6,353 shares of the company’s stock, valued at approximately $1,052,628.57. The disclosure for this sale can be found here. Insiders have sold 2,730 shares of company stock worth $460,494 in the last quarter. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On WEX

Several institutional investors and hedge funds have recently added to or reduced their stakes in WEX. Raymond James & Associates increased its stake in WEX by 314.6% in the 4th quarter. Raymond James & Associates now owns 11,525 shares of the business services provider’s stock valued at $1,618,000 after buying an additional 8,745 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of WEX by 11.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 274,865 shares of the business services provider’s stock worth $38,589,000 after purchasing an additional 29,255 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of WEX by 16.5% during the 4th quarter. BNP Paribas Arbitrage SA now owns 6,554 shares of the business services provider’s stock worth $920,000 after purchasing an additional 926 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in WEX by 22.9% during the fourth quarter. Teacher Retirement System of Texas now owns 8,744 shares of the business services provider’s stock valued at $1,228,000 after purchasing an additional 1,632 shares during the period. Finally, Citigroup Inc. increased its position in WEX by 2.2% in the fourth quarter. Citigroup Inc. now owns 17,216 shares of the business services provider’s stock worth $2,417,000 after buying an additional 364 shares during the last quarter. Hedge funds and other institutional investors own 99.50% of the company’s stock.

WEX Stock Performance

Shares of WEX stock opened at $139.11 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.52. WEX has a twelve month low of $123.01 and a twelve month high of $197.70. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 32.50, a P/E/G ratio of 0.64 and a beta of 1.55. The company’s fifty day moving average is $160.47 and its 200 day moving average is $163.26.

WEX (NYSE:WEXGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The business services provider reported $3.28 earnings per share for the quarter, topping the consensus estimate of $3.03 by $0.25. WEX had a net margin of 9.23% and a return on equity of 24.68%. The company had revenue of $598.20 million for the quarter, compared to analysts’ expectations of $571.33 million. During the same quarter in the previous year, the firm posted $1.93 earnings per share. WEX’s revenue for the quarter was up 30.2% on a year-over-year basis. Sell-side analysts forecast that WEX will post 11.81 EPS for the current year.

About WEX

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WEX Inc provides financial technology services in the United States and internationally. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.

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Analyst Recommendations for WEX (NYSE:WEX)

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