WEX Inc. (NYSE:WEX) Receives $240.42 Average PT from Analysts

WEX Inc. (NYSE:WEX) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $239.58.

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered 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. Keefe, Bruyette & Woods lowered their target price on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. dropped their price target on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, William Blair raised WEX to a “strong-buy” rating in a research report on Friday, July 26th.

Insider Activity

In related news, insider Melanie J. Tinto sold 1,564 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 8,461 shares in the company, valued at approximately $1,565,623.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Melanie J. Tinto sold 1,564 shares of the company’s 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 sale, the insider now owns 8,461 shares of the company’s stock, valued at approximately $1,565,623.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jagtar Narula sold 540 shares of WEX stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $190.00, for a total transaction of $102,600.00. Following the transaction, the chief financial officer now directly owns 7,628 shares of the company’s stock, valued at $1,449,320. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,826 shares of company stock worth $693,369. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WEX

A number of large investors have recently bought and sold shares of WEX. GAMMA Investing LLC bought a new stake in shares of WEX during the fourth quarter worth $27,000. Rise Advisors LLC bought a new stake in WEX during the 1st quarter worth about $29,000. Principal Securities Inc. acquired a new stake in WEX in the 4th quarter valued at about $31,000. International Assets Investment Management LLC bought a new position in shares of WEX in the second quarter worth about $33,000. Finally, Quarry LP lifted its position in shares of WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after purchasing an additional 165 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

WEX Trading Up 0.3 %

Shares of NYSE WEX opened at $181.99 on Friday. The business has a 50 day simple moving average of $177.81 and a 200 day simple moving average of $202.44. WEX has a 52 week low of $161.95 and a 52 week high of $244.04. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 1.06 and a beta of 1.54. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03.

WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.20 by $0.09. WEX had a net margin of 9.32% and a return on equity of 31.05%. The company had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. On average, research analysts predict that WEX will post 13.73 earnings per share for the current fiscal year.

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.