WEX Inc. (NYSE:WEX) Receives $227.08 Consensus PT from Analysts

Shares of WEX Inc. (NYSE:WEX) have received an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $227.08.

WEX has been the subject of several recent analyst reports. StockNews.com upgraded WEX from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Mizuho increased their price target on WEX from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Truist Financial increased their price target on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. increased their price target on WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, William Blair reissued an “outperform” rating on shares of WEX in a research note on Thursday, February 8th.

WEX Stock Performance

Shares of NYSE WEX opened at $233.86 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s fifty day moving average price is $216.54 and its two-hundred day moving average price is $196.92. WEX has a one year low of $161.95 and a one year high of $239.18. The firm has a market cap of $9.76 billion, a price-to-earnings ratio of 37.96, a P/E/G ratio of 1.53 and a beta of 1.59.

WEX (NYSE:WEX) last released its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.29 by ($0.15). The company had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. WEX had a return on equity of 31.33% and a net margin of 10.46%. On average, equities analysts forecast that WEX will post 13.57 EPS for the current year.

Insider Activity

In other news, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the transaction, the chief financial officer now owns 5,528 shares in the company, valued at $1,289,350.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Jagtar Narula sold 309 shares of WEX stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the sale, the chief financial officer now directly owns 5,528 shares in the company, valued at $1,289,350.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Melissa D. Smith sold 41,107 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total value of $8,426,935.00. Following the transaction, the chief executive officer now directly owns 81,998 shares in the company, valued at approximately $16,809,590. The disclosure for this sale can be found here. Insiders have sold 69,433 shares of company stock worth $14,708,896 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of WEX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp increased its stake in WEX by 111.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider’s stock worth $170,000 after acquiring an additional 500 shares during the last quarter. Bank of Montreal Can lifted its holdings in WEX by 8.1% in the 1st quarter. Bank of Montreal Can now owns 4,181 shares of the business services provider’s stock worth $732,000 after buying an additional 315 shares during the period. BlackRock Inc. lifted its stake in shares of WEX by 1.2% in the 1st quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock valued at $732,950,000 after purchasing an additional 49,480 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of WEX by 8.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 24,375 shares of the business services provider’s stock valued at $4,471,000 after purchasing an additional 1,824 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of WEX by 38.3% in the 1st quarter. Sei Investments Co. now owns 21,260 shares of the business services provider’s stock valued at $3,793,000 after purchasing an additional 5,884 shares during the period. 97.47% of the stock is currently owned by institutional investors.

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.