WEX Inc. (NYSE:WEX) Receives $239.58 Consensus Price Target from Analysts

WEX Inc. (NYSE:WEX) has been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $239.58.

WEX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective 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. Keefe, Bruyette & Woods cut their price target on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Wells Fargo & Company decreased their price objective on WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Finally, William Blair upgraded WEX to a “strong-buy” rating in a research note on Friday, July 26th.

WEX Stock Performance

Shares of NYSE WEX opened at $193.73 on Tuesday. WEX has a 12 month low of $161.95 and a 12 month high of $244.04. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. The company has a market cap of $8.12 billion, a P/E ratio of 31.46, a P/E/G ratio of 1.11 and a beta of 1.54. The business’s 50 day moving average is $182.15 and its two-hundred day moving average is $199.95.

WEX (NYSE:WEX) last announced its earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.09. WEX had a net margin of 9.32% and a return on equity of 31.05%. The business had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. On average, equities analysts expect that WEX will post 13.75 EPS for the current year.

Insider Buying and Selling

In other WEX news, CFO Jagtar Narula sold 540 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $180.00, for a total value of $97,200.00. Following the completion of the sale, the chief financial officer now owns 8,168 shares in the company, valued at approximately $1,470,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Melanie J. Tinto sold 1,564 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the completion of the sale, the insider now owns 8,461 shares in the company, valued at $1,565,623.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jagtar Narula sold 540 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.00, for a total value of $97,200.00. Following the transaction, the chief financial officer now directly owns 8,168 shares in the company, valued at approximately $1,470,240. The disclosure for this sale can be found here. Insiders have sold a total of 5,477 shares of company stock worth $993,307 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of WEX

Several institutional investors and hedge funds have recently added to or reduced their stakes in WEX. Norges Bank acquired a new stake in shares of WEX during the 4th quarter worth approximately $89,745,000. Kodai Capital Management LP acquired a new position in WEX in the fourth quarter valued at approximately $49,750,000. Wellington Management Group LLP boosted its stake in WEX by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after acquiring an additional 179,813 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in WEX by 34.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock worth $87,772,000 after acquiring an additional 126,663 shares during the period. Finally, Distillate Capital Partners LLC bought a new stake in shares of WEX during the 2nd quarter valued at $13,950,000. 97.47% of the stock is owned by institutional investors.

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.