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

WEX Inc. (NYSE:WEX) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $239.58.

Several brokerages have recently weighed in on WEX. William Blair raised WEX to a “strong-buy” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods decreased 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. JPMorgan Chase & Co. cut their target price on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company lowered their target price on WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, July 26th.

WEX Stock Performance

WEX stock opened at $210.02 on Friday. The business has a 50 day moving average of $190.14 and a 200-day moving average of $197.61. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. WEX has a 1 year low of $161.95 and a 1 year high of $244.04. The company has a market capitalization of $8.80 billion, a P/E ratio of 34.15, a P/E/G ratio of 1.22 and a beta of 1.55.

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

Insider Transactions at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the transaction, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Melanie J. Tinto sold 1,564 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,985 shares of company stock valued at $1,094,907 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WEX

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in WEX by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after acquiring an additional 179,813 shares during the period. Westfield Capital Management Co. LP boosted its holdings 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 buying an additional 30,306 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of WEX by 229.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,164 shares of the business services provider’s stock worth $989,000 after buying an additional 2,901 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in WEX by 5.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock valued at $173,561,000 after buying an additional 48,182 shares during the period. Finally, Sei Investments Co. increased its holdings in WEX by 60.0% during the first quarter. Sei Investments Co. now owns 44,981 shares of the business services provider’s stock worth $10,684,000 after buying an additional 16,860 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

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.