WEX Inc. (NYSE:WEX) Receives $237.14 Consensus Target Price from Analysts

Shares of WEX Inc. (NYSE:WEX) have been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are presently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $237.14.

Several equities analysts have recently weighed in on WEX shares. Barclays increased their price objective on shares of WEX from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Jefferies Financial Group raised their target price on shares of WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Wells Fargo & Company assumed coverage on shares of WEX in a research note on Wednesday, June 5th. They set an “equal weight” rating and a $200.00 target price on the stock. Robert W. Baird raised their target price on shares of WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, Citigroup raised their target price on shares of WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th.

WEX Price Performance

Shares of NYSE:WEX opened at $177.14 on Thursday. The firm’s 50 day moving average price is $193.17 and its 200-day moving average price is $207.60. WEX has a twelve month low of $161.95 and a twelve month high of $244.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $7.42 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 1.01 and a beta of 1.56.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, April 25th. The business services provider reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.15. WEX had a net margin of 10.21% and a return on equity of 30.92%. The firm had revenue of $652.70 million for the quarter, compared to analysts’ expectations of $653.52 million. Equities research analysts expect that WEX will post 13.95 EPS for the current year.

Insider Activity at WEX

In related news, CAO Jennifer Kimball sold 1,200 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $211.55, for a total value of $253,860.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,909 shares of the company’s stock, valued at $403,848.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Jennifer Kimball sold 1,200 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $211.55, for a total value of $253,860.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,909 shares of the company’s stock, valued at $403,848.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Robert Joseph Deshaies sold 1,897 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $211.01, for a total transaction of $400,285.97. Following the completion of the transaction, the chief operating officer now directly owns 9,408 shares of the company’s stock, valued at $1,985,182.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,831 shares of company stock valued at $808,602. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC boosted its stake in WEX by 15.6% during the fourth quarter. CWM LLC now owns 377 shares of the business services provider’s stock worth $73,000 after buying an additional 51 shares during the period. VisionPoint Advisory Group LLC boosted its stake in WEX by 74.7% during the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after buying an additional 62 shares during the period. Los Angeles Capital Management LLC boosted its stake in WEX by 4.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,733 shares of the business services provider’s stock worth $337,000 after buying an additional 72 shares during the period. Bath Savings Trust Co boosted its stake in WEX by 0.3% during the fourth quarter. Bath Savings Trust Co now owns 27,284 shares of the business services provider’s stock worth $5,308,000 after buying an additional 80 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in WEX by 5.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,893 shares of the business services provider’s stock worth $368,000 after buying an additional 94 shares during the period. 97.47% of the stock is owned by hedge funds and other institutional investors.

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.