Analysts Set WEX Inc. (NYSE:WEX) Price Target at $235.91

WEX Inc. (NYSE:WEX) has received a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. Five equities research 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 twelve-month target price among brokers that have updated their coverage on the stock in the last year is $235.91.

WEX has been the topic of several recent analyst reports. Robert W. Baird cut their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company reduced their price target on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. reduced their target price on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Finally, William Blair raised WEX to a “strong-buy” rating in a report on Friday, July 26th.

Insider Transactions at WEX

In related news, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Robert Joseph Deshaies sold 1,651 shares of WEX stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total transaction of $299,937.17. Following the transaction, the chief operating officer now directly owns 7,757 shares of the company’s stock, valued at $1,409,214.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jagtar Narula sold 508 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WEX

Hedge funds have recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in WEX by 5.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock worth $173,561,000 after buying an additional 48,182 shares during the period. Bessemer Group Inc. boosted its stake in shares of WEX by 0.6% in the first quarter. Bessemer Group Inc. now owns 735,313 shares of the business services provider’s stock worth $174,660,000 after acquiring an additional 4,262 shares during the period. River Road Asset Management LLC grew its position in shares of WEX by 5.0% during the third quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock worth $151,103,000 after purchasing an additional 34,264 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 valued at $87,772,000 after purchasing an additional 126,663 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in WEX by 3.0% in the 2nd quarter. Federated Hermes Inc. now owns 402,365 shares of the business services provider’s stock worth $71,275,000 after purchasing an additional 11,821 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

WEX Price Performance

Shares of WEX opened at $173.51 on Wednesday. WEX has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. The firm’s 50-day simple moving average is $198.35 and its two-hundred day simple moving average is $191.03. The stock has a market cap of $6.90 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.37 and a beta of 1.57. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company had revenue of $665.50 million during the quarter, compared to analyst estimates of $688.03 million. During the same quarter last year, the company earned $3.44 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts anticipate that WEX will post 13.2 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.