WEX Inc. (NYSE:WEX) Receives $228.64 Average Target Price from Brokerages

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

Several analysts recently weighed in on the company. Bank of America raised their target price on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company cut their price objective on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Robert W. Baird decreased their price target on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $200.00 price target (down from $207.00) on shares of WEX in a research note on Tuesday, December 17th.

Insider Buying and Selling

In other news, COO Robert Joseph Deshaies sold 175 shares of the company’s stock in a transaction 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 owns 7,582 shares of the company’s stock, valued at approximately $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On WEX

Several hedge funds have recently added to or reduced their stakes in WEX. Janus Henderson Group PLC raised its holdings in WEX by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock valued at $873,251,000 after buying an additional 25,365 shares during the last quarter. FMR LLC raised its stake in shares of WEX by 8.8% during the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock valued at $326,237,000 after acquiring an additional 125,262 shares during the last quarter. State Street Corp boosted its holdings in shares of WEX by 0.3% during the third quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock worth $260,265,000 after purchasing an additional 3,882 shares during the period. River Road Asset Management LLC grew its stake in shares of WEX by 5.0% in 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 during the last quarter. Finally, Dimensional Fund Advisors LP raised its position 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 last quarter. Institutional investors own 97.47% of the company’s stock.

WEX Price Performance

Shares of NYSE WEX opened at $169.39 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. The business’s 50 day moving average price is $185.38 and its two-hundred day moving average price is $186.05. WEX has a twelve month low of $165.51 and a twelve month high of $244.04. The company has a market cap of $6.74 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.57.

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 the consensus estimate of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. During the same period in the prior year, the company posted $3.44 earnings per share. WEX’s revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that WEX will post 13.1 EPS for the current 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.