WEX Inc. (WEX) Receives $122.57 Average PT from Analysts
Shares of WEX Inc. (NYSE:WEX) have been assigned a consensus recommendation of “Buy” from the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $121.63.
Several research firms have weighed in on WEX. William Blair reiterated an “outperform” rating on shares of WEX in a research report on Wednesday, July 12th. BidaskClub upgraded WEX from a “sell” rating to a “hold” rating in a research report on Saturday. Raymond James Financial, Inc. began coverage on WEX in a research report on Friday. They set an “outperform” rating and a $115.00 price objective on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $135.00 price objective on shares of WEX in a research report on Monday, May 15th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $120.00 price objective on shares of WEX in a research report on Thursday, August 10th.
In related news, Director James Neary sold 2,390,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $102.25, for a total value of $244,377,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Hilary A. Rapkin sold 2,000 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $105.00, for a total value of $210,000.00. Following the completion of the transaction, the senior vice president now owns 15,424 shares in the company, valued at approximately $1,619,520. The disclosure for this sale can be found here. Insiders sold 2,396,500 shares of company stock worth $245,082,500 in the last 90 days. 0.86% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. FNY Partners Fund LP bought a new position in shares of WEX during the first quarter worth approximately $103,000. Whittier Trust Co. boosted its position in shares of WEX by 5.9% in the first quarter. Whittier Trust Co. now owns 1,027 shares of the business services provider’s stock worth $106,000 after buying an additional 57 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in shares of WEX by 6.1% in the first quarter. Glen Harbor Capital Management LLC now owns 1,120 shares of the business services provider’s stock worth $116,000 after buying an additional 64 shares during the last quarter. Tyers Asset Management LLC boosted its position in shares of WEX by 6.1% in the first quarter. Tyers Asset Management LLC now owns 1,540 shares of the business services provider’s stock worth $159,000 after buying an additional 88 shares during the last quarter. Finally, First Bank & Trust boosted its position in shares of WEX by 2.6% in the first quarter. First Bank & Trust now owns 1,604 shares of the business services provider’s stock worth $166,000 after buying an additional 41 shares during the last quarter.
WEX (WEX) traded up 1.46% on Tuesday, reaching $106.57. 390,172 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $107.40 and a 200 day moving average of $105.68. WEX has a 12 month low of $97.26 and a 12 month high of $122.91. The stock has a market capitalization of $4.57 billion, a PE ratio of 64.59 and a beta of 1.80.
WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. WEX had a return on equity of 13.03% and a net margin of 6.09%. The business had revenue of $303.90 million for the quarter, compared to analysts’ expectations of $293.91 million. During the same quarter in the prior year, the business earned $1.08 EPS. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. Equities analysts predict that WEX will post $5.27 earnings per share for the current fiscal year.
WEX Company Profile
WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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