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

WEX Inc. (NYSE:WEX) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $235.91.

Several research firms recently commented on WEX. JPMorgan Chase & Co. reduced their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Wells Fargo & Company decreased their price objective on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. William Blair upgraded WEX to a “strong-buy” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods decreased their price target on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Finally, Robert W. Baird dropped their price objective on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th.

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other WEX news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. This trade represents 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 this link. Also, COO Robert Joseph Deshaies sold 1,651 shares of the company’s 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 completion of the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at $1,409,214.19. 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.

Institutional Trading of WEX

A number of hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in WEX in the 2nd quarter worth about $33,000. Covestor Ltd grew its holdings in shares of WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after buying an additional 131 shares during the last quarter. Quarry LP increased 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 valued at $33,000 after acquiring an additional 165 shares in the last quarter. Blue Trust Inc. raised its holdings in WEX by 456.1% in the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after acquiring an additional 187 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in WEX in the 1st quarter valued at approximately $60,000. 97.47% of the stock is owned by institutional investors.

WEX Stock Performance

NYSE WEX opened at $173.79 on Wednesday. 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 1.55. 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 has a 52-week low of $165.51 and a 52-week high of $244.04. The company has a fifty day moving average of $199.16 and a 200-day moving average of $192.80.

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