WEX Inc. (NYSE:WEX) Receives $235.91 Consensus PT from Brokerages

by · The Markets Daily

Shares of WEX Inc. (NYSE:WEX – Get Free Report) have been given a consensus rating of “Moderate Buy” by the thirteen analysts that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $235.91.

WEX has been the topic of several recent analyst reports. Bank of America raised their price target on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Robert W. Baird lowered their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Wolfe Research lowered shares of WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Finally, Jefferies Financial Group lifted 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.

Check Out Our Latest Report on WEX

Insiders Place Their Bets

In other news, COO Robert Joseph Deshaies sold 1,651 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the sale, the chief operating officer now owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Robert Joseph Deshaies sold 1,651 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the transaction, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at approximately $1,409,214.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Trading of WEX

Several large investors have recently added to or reduced their stakes in WEX. Westfield Capital Management Co. LP lifted its position in shares of WEX by 13.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 258,384 shares of the business services provider’s stock worth $61,374,000 after purchasing an additional 30,306 shares during the period. Oppenheimer Asset Management Inc. boosted its position in WEX by 229.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,164 shares of the business services provider’s stock valued at $989,000 after acquiring an additional 2,901 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of WEX by 124.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 40,870 shares of the business services provider’s stock worth $8,572,000 after acquiring an additional 22,638 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of WEX by 5.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock worth $173,561,000 after acquiring an additional 48,182 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of WEX by 60.0% in the 1st quarter. Sei Investments Co. now owns 44,981 shares of the business services provider’s stock valued at $10,684,000 after purchasing an additional 16,860 shares during the period. Institutional investors own 97.47% of the company’s stock.

WEX Price Performance

WEX stock opened at $173.51 on Wednesday. The firm has a 50 day moving average of $198.35 and a 200-day moving average of $191.03. The firm has a market capitalization of $6.90 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 1.37 and a beta of 1.57. WEX has a 12 month low of $165.51 and a 12 month high of $244.04. 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 (NYSE:WEX – Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $688.03 million. During the same period in the previous year, the business earned $3.44 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict that WEX will post 13.2 earnings per share for the current fiscal year.

WEX Company Profile

(Get Free Report

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.

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