WEX Inc. (NYSE:WEX) Receives $228.64 Consensus PT from Brokerages

Shares of WEX Inc. (NYSE:WEX) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $228.64.

A number of research analysts recently weighed in on WEX shares. Wells Fargo & Company reduced their price objective on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. 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. Jefferies Financial Group upped their target price on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Robert W. Baird decreased their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Barclays reiterated an “equal weight” rating and set a $200.00 target price (down from $207.00) on shares of WEX in a research note on Tuesday, December 17th.

Insider Activity at WEX

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction that occurred 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On WEX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in WEX in the 3rd quarter worth approximately $35,000. World Investment Advisors LLC bought a new position in shares of WEX in the third quarter worth approximately $2,507,000. Sanctuary Advisors LLC boosted its position in shares of WEX by 112.4% in the third quarter. Sanctuary Advisors LLC now owns 4,760 shares of the business services provider’s stock worth $998,000 after purchasing an additional 2,519 shares during the period. Rehmann Capital Advisory Group purchased a new stake in shares of WEX in the third quarter worth $251,000. Finally, Coldstream Capital Management Inc. raised its position in shares of WEX by 11.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,835 shares of the business services provider’s stock valued at $377,000 after purchasing an additional 191 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Price Performance

WEX opened at $169.39 on Thursday. WEX has a 12-month low of $165.51 and a 12-month high of $244.04. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.57. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The stock has a fifty day simple moving average of $185.38 and a two-hundred day simple moving average of $186.05.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $3.82 by $0.53. The business had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. WEX’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.44 earnings per share. Research analysts predict that WEX will post 13.1 earnings per share for the current fiscal year.

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.