WEX Inc. (NYSE:WEX) Given Average Recommendation of “Moderate Buy” by Analysts

WEX Inc. (NYSE:WEX – Get Rating) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $208.90.

Several equities research analysts have issued reports on WEX shares. Mizuho cut their price objective on shares of WEX from $220.00 to $200.00 in a research report on Monday, May 1st. Citigroup upped their price objective on WEX from $190.00 to $230.00 and gave the company a “buy” rating in a report on Monday, February 13th. TheStreet raised shares of WEX from a “c” rating to a “b-” rating in a research report on Thursday, February 9th. Truist Financial raised their price target on shares of WEX from $185.00 to $190.00 in a research report on Friday, April 28th. Finally, Morgan Stanley boosted their price objective on shares of WEX from $157.00 to $199.00 and gave the company an “equal weight” rating in a report on Friday, February 10th.

WEX Price Performance

Shares of WEX opened at $174.87 on Wednesday. The firm has a market capitalization of $7.49 billion, a PE ratio of 52.36, a PEG ratio of 1.95 and a beta of 1.59. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.07 and a quick ratio of 1.07. The company’s 50-day moving average is $177.49 and its 200-day moving average is $175.50. WEX has a fifty-two week low of $125.00 and a fifty-two week high of $204.05.

Insider Buying and Selling

In other WEX news, COO Robert Joseph Deshaies sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $167.79, for a total transaction of $184,569.00. Following the completion of the transaction, the chief operating officer now directly owns 7,931 shares in the company, valued at $1,330,742.49. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other WEX news, COO Robert Joseph Deshaies sold 1,100 shares of WEX stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $167.79, for a total value of $184,569.00. Following the transaction, the chief operating officer now owns 7,931 shares in the company, valued at $1,330,742.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer Kimball sold 939 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $176.08, for a total value of $165,339.12. Following the transaction, the chief accounting officer now directly owns 512 shares of the company’s stock, valued at approximately $90,152.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,300 shares of company stock worth $590,154. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of WEX

A number of hedge funds have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC bought a new position in shares of WEX in the 4th quarter valued at $25,000. National Bank of Canada FI bought a new position in WEX in the fourth quarter valued at about $26,000. Headlands Technologies LLC acquired a new stake in shares of WEX during the first quarter valued at about $26,000. Lindbrook Capital LLC grew its holdings in shares of WEX by 85.6% during the fourth quarter. Lindbrook Capital LLC now owns 167 shares of the business services provider’s stock worth $27,000 after purchasing an additional 77 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new position in shares of WEX in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 98.65% of the company’s stock.

WEX Company Profile

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WEX Inc provides financial technology services in the United States and internationally. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.