WEX Inc. (NYSE:WEX) Receives $234.23 Average Price Target from Analysts

Shares of WEX Inc. (NYSE:WEX) have been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $240.00.

WEX has been the subject of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of WEX in a report on Thursday, February 8th. TheStreet upgraded WEX from a “c” rating to a “b” rating in a report on Thursday, February 8th. Robert W. Baird upped their price objective on WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a report on Monday. Jefferies Financial Group upped their price objective on WEX from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, April 12th. Finally, Citigroup upped their price objective on WEX from $240.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday.

Insiders Place Their Bets

In other news, insider Ann Elena Drew sold 4,531 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total transaction of $987,893.93. Following the completion of the transaction, the insider now directly owns 3,653 shares of the company’s stock, valued at $796,463.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ann Elena Drew sold 4,531 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total transaction of $987,893.93. Following the completion of the transaction, the insider now directly owns 3,653 shares of the company’s stock, valued at $796,463.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hilary A. Rapkin sold 5,800 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $222.55, for a total value of $1,290,790.00. Following the transaction, the insider now directly owns 10,569 shares of the company’s stock, valued at $2,352,130.95. The disclosure for this sale can be found here. Insiders sold 69,433 shares of company stock worth $14,708,896 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. FinTrust Capital Advisors LLC acquired a new position in WEX during the fourth quarter valued at approximately $25,000. VisionPoint Advisory Group LLC boosted its position in WEX by 74.7% during the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. GAMMA Investing LLC acquired a new position in WEX during the fourth quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in WEX during the first quarter valued at approximately $29,000. Finally, Principal Securities Inc. acquired a new position in WEX during the fourth quarter valued at approximately $31,000. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Trading Down 1.6 %

Shares of WEX opened at $229.85 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55. WEX has a 12-month low of $161.95 and a 12-month high of $244.04. The firm has a market capitalization of $9.59 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 1.51 and a beta of 1.59. The stock’s fifty day simple moving average is $228.84 and its 200-day simple moving average is $201.82.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a net margin of 10.46% and a return on equity of 31.33%. The firm had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. As a group, research analysts predict that WEX will post 13.55 earnings per share for the current 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.