WEX Inc. (NYSE:WEX) Receives $227.73 Consensus Target Price from Analysts

Shares of WEX Inc. (NYSE:WEX) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. Seven equities 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 12 month price objective among brokerages that have issued a report on the stock in the last year is $219.55.

Several equities analysts recently weighed in on the company. Robert W. Baird cut their price objective on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Keefe, Bruyette & Woods dropped their target price 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. Citigroup downgraded shares of WEX from a “buy” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Bank of America boosted their price objective on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Wolfe Research cut shares of WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th.

Insider Buying and Selling at WEX

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the sale, the chief operating officer now directly owns 7,582 shares in the company, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Trading of WEX

Hedge funds have recently added to or reduced their stakes in the business. 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 purchasing an additional 101 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in WEX during the 3rd quarter worth approximately $35,000. Quarry LP raised its holdings in WEX by 717.4% during the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after buying an additional 165 shares during the period. UMB Bank n.a. lifted its stake in WEX by 552.5% in the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock valued at $46,000 after buying an additional 221 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of WEX by 47.3% in the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after buying an additional 89 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Price Performance

NYSE WEX opened at $184.40 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. WEX has a 1 year low of $165.51 and a 1 year high of $244.04. The company has a market cap of $7.34 billion, a PE ratio of 23.40, a PEG ratio of 1.23 and a beta of 1.58. The stock’s 50-day moving average price is $178.78 and its two-hundred day moving average price is $186.13.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. During the same quarter in the prior year, the business earned $3.44 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, analysts predict that WEX will post 13.09 EPS for the current year.

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.