WEX Inc. (NYSE:WEX) Receives Average Recommendation of “Moderate Buy” from Analysts

WEX Inc. (NYSE:WEX) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $237.14.

Several equities analysts have recently weighed in on the company. StockNews.com cut WEX from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. 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 objective on the stock. Robert W. Baird lifted their price objective on WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Evercore ISI boosted their target price on WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, Barclays boosted their target price on WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th.

WEX Price Performance

Shares of WEX stock opened at $174.28 on Thursday. The stock has a 50-day moving average price of $195.34 and a 200 day moving average price of $207.66. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.73. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 1.02 and a beta of 1.56. WEX has a 12 month low of $161.95 and a 12 month high of $244.04.

WEX (NYSE:WEX) last announced 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 firm had revenue of $652.70 million during the quarter, compared to analyst estimates of $653.52 million. WEX had a return on equity of 30.92% and a net margin of 10.21%. Research analysts expect that WEX will post 13.95 EPS for the current year.

Insider Buying and Selling

In related news, CAO Jennifer Kimball sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total transaction of $253,860.00. Following the transaction, the chief accounting officer now directly owns 1,909 shares of the company’s stock, valued at approximately $403,848.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other WEX news, COO Robert Joseph Deshaies sold 1,897 shares of the company’s 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 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 SEC, which is accessible through this link. 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 completion of the transaction, the chief accounting officer now directly owns 1,909 shares in the company, valued at $403,848.95. The disclosure for this sale can be found here. In 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 insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WEX. VisionPoint Advisory Group LLC grew its holdings in WEX by 74.7% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of WEX during the 4th quarter valued at $27,000. Rise Advisors LLC bought a new stake in shares of WEX during the 1st quarter valued at $29,000. Principal Securities Inc. bought a new stake in shares of WEX during the 4th quarter valued at $31,000. Finally, Covestor Ltd lifted its position in shares of WEX by 233.9% during the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 131 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.

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.