WEX Inc. (NYSE:WEX) Receives $217.73 Consensus Price Target from Analysts

WEX Inc. (NYSE:WEX) has been assigned an average rating of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $199.73.

A number of equities analysts recently issued reports on the company. William Blair restated a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Bank of America cut WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Robert W. Baird cut their price target on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Barclays reduced their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Citigroup downgraded shares of WEX from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $190.00 in a report on Tuesday, January 14th.

WEX Price Performance

WEX opened at $155.35 on Friday. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.24 and a beta of 1.58. WEX has a 12-month low of $146.03 and a 12-month high of $244.04. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The business’s fifty day simple moving average is $175.62 and its 200-day simple moving average is $185.27.

WEX (NYSE:WEX) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. On average, equities research analysts anticipate that WEX will post 14.27 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Robert Joseph Deshaies sold 175 shares of WEX stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the sale, the chief operating officer now owns 7,582 shares in the company, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WEX

Several hedge funds have recently made changes to their positions in WEX. Northwestern Mutual Wealth Management Co. lifted its stake in shares of WEX by 40.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the business services provider’s stock worth $77,000 after acquiring an additional 124 shares during the period. Truist Financial Corp raised its holdings in WEX by 21.0% during the second quarter. Truist Financial Corp now owns 2,943 shares of the business services provider’s stock worth $521,000 after purchasing an additional 510 shares in the last quarter. Cetera Investment Advisers lifted its position in WEX by 4.4% in the second quarter. Cetera Investment Advisers now owns 13,874 shares of the business services provider’s stock valued at $2,458,000 after purchasing an additional 585 shares during the period. Sanctuary Advisors LLC purchased a new stake in WEX in the 2nd quarter valued at approximately $397,000. Finally, GAMMA Investing LLC increased its position in WEX by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

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.