WEX (WEX) – Research Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for WEX (NYSE: WEX):

• 10/28/2024 – WEX was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating.
• 10/25/2024 – WEX had its price target lowered by analysts at Robert W. Baird from $285.00 to $230.00. They now have an “outperform” rating on the stock.
• 10/25/2024 – WEX had its price target lowered by analysts at Wells Fargo & Company from $200.00 to $180.00. They now have an “equal weight” rating on the stock.
• 10/21/2024 – WEX had its price target raised by analysts at Wells Fargo & Company from $190.00 to $200.00. They now have an “equal weight” rating on the stock.
• 10/16/2024 – WEX had its price target raised by analysts at Jefferies Financial Group Inc. from $190.00 to $210.00. They now have a “hold” rating on the stock.
• 10/15/2024 – WEX had its price target raised by analysts at Bank of America Co. from $238.00 to $255.00. They now have a “buy” rating on the stock.

WEX Stock Up 0.7 %

WEX stock opened at $173.79 on Monday. 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 company has a market capitalization of $6.91 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.36 and a beta of 1.57. WEX Inc. has a 1-year low of $165.51 and a 1-year high of $244.04. The firm’s fifty day simple moving average is $198.93 and its 200-day simple moving average is $191.84.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. The company 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%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.44 earnings per share. Sell-side analysts forecast that WEX Inc. will post 13.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of WEX

A number of large investors have recently bought and sold shares of the stock. American Century Companies Inc. grew its stake in WEX by 0.7% during the second quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock worth $1,847,000 after buying an additional 68 shares during the last quarter. Ballentine Partners LLC increased its holdings in WEX by 3.3% during the 2nd quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider’s stock valued at $396,000 after purchasing an additional 72 shares in the last quarter. GAMMA Investing LLC raised its position in WEX by 40.7% in the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 87 shares during the last quarter. Covestor Ltd boosted its stake in WEX by 47.3% in the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after purchasing an additional 89 shares in the last quarter. Finally, Cozad Asset Management Inc. grew its holdings in shares of WEX by 2.1% during the first quarter. Cozad Asset Management Inc. now owns 4,831 shares of the business services provider’s stock worth $1,148,000 after purchasing an additional 100 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors.

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.