Brokerages Set WEX Inc. (NYSE:WEX) Target Price at $237.14

Shares of WEX Inc. (NYSE:WEX) have received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $237.14.

Several research analysts have weighed in on the company. Evercore ISI boosted their price target on WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. StockNews.com lowered shares of WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Barclays lifted their price objective on shares of WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Jefferies Financial Group upped their target price on shares of WEX from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, April 12th. Finally, Wells Fargo & Company assumed 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.

Insider Buying and Selling

In other WEX news, COO Robert Joseph Deshaies sold 1,897 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $211.01, for a total value of $400,285.97. Following the completion of the sale, the chief operating officer now owns 9,408 shares of the company’s stock, valued at approximately $1,985,182.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other WEX news, COO Robert Joseph Deshaies sold 1,897 shares of WEX stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $211.01, for a total value of $400,285.97. Following the completion of the transaction, the chief operating officer now directly owns 9,408 shares of the company’s stock, valued at approximately $1,985,182.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer Kimball sold 1,200 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $211.55, for a total value of $253,860.00. Following the sale, the chief accounting officer now owns 1,909 shares of the company’s stock, valued at $403,848.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,831 shares of company stock valued at $808,602. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On WEX

Several hedge funds have recently bought and sold shares of the company. Rise Advisors LLC bought a new position in WEX in the first quarter valued at approximately $29,000. GAMMA Investing LLC bought a new position in shares of WEX in the 4th quarter valued at $27,000. VisionPoint Advisory Group LLC raised its holdings in shares of WEX by 74.7% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after buying an additional 62 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of WEX during the 4th quarter worth $31,000. Finally, Covestor Ltd boosted its stake in WEX by 233.9% in the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after buying an additional 131 shares in the last quarter. 97.47% of the stock is owned by institutional investors.

WEX Stock Performance

Shares of WEX opened at $176.94 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.73. WEX has a 12 month low of $161.95 and a 12 month high of $244.04. The firm has a fifty day simple moving average of $189.84 and a 200 day simple moving average of $207.39. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 1.03 and a beta of 1.55.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, April 25th. The business services provider reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.15. The company 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.

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.