WEX Inc. (NYSE:WEX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of WEX Inc. (NYSE:WEX) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Five 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 1 year price objective among brokerages that have covered the stock in the last year is $235.91.

A number of research analysts have recently issued reports on the company. Jefferies Financial Group upped their price target on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Wolfe Research cut shares of WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. reduced their price target on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Bank of America boosted their price objective on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird dropped their target price 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.

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction that occurred 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 transaction, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. The trade was a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of WEX

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in WEX by 0.6% in the 3rd quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock worth $873,251,000 after buying an additional 25,365 shares during the period. FMR LLC boosted its stake in shares of WEX by 8.8% in the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock worth $326,237,000 after acquiring an additional 125,262 shares during the period. State Street Corp boosted its stake in shares of WEX by 0.3% in the third quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock worth $260,265,000 after acquiring an additional 3,882 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in WEX by 5.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock valued at $173,561,000 after purchasing an additional 48,182 shares during the period. Finally, River Road Asset Management LLC raised its stake in WEX by 5.0% during the 3rd quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock valued at $151,103,000 after purchasing an additional 34,264 shares during the period. 97.47% of the stock is owned by hedge funds and other institutional investors.

WEX Stock Up 2.1 %

NYSE:WEX opened at $189.80 on Friday. The firm has a 50-day simple moving average of $195.19 and a two-hundred day simple moving average of $187.53. The firm has a market cap of $7.55 billion, a P/E ratio of 24.09, a P/E/G ratio of 1.47 and a beta of 1.57. WEX has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. 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 (NYSE:WEX) last announced its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.82 by $0.53. The company had revenue of $665.50 million during 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 firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.44 EPS. Analysts predict that WEX will post 13.1 earnings per share 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.