WEX Inc. (NYSE:WEX) Receives $234.23 Consensus PT from Analysts

Shares of WEX Inc. (NYSE:WEX) have earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $240.00.

Several analysts recently commented on WEX shares. TheStreet raised WEX from a “c” rating to a “b” rating in a report on Thursday, February 8th. Mizuho lifted their target price on shares of WEX from $225.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. StockNews.com downgraded shares of WEX from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. raised their price target on shares of WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, Robert W. Baird upped their price objective on shares of WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th.

Insider Activity at WEX

In other WEX news, SVP Sara Trickett sold 887 shares of WEX stock in a transaction on Friday, February 16th. The shares were sold at an average price of $224.61, for a total transaction of $199,229.07. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Melissa D. Smith sold 41,107 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $205.00, for a total value of $8,426,935.00. Following the completion of the sale, the chief executive officer now owns 81,998 shares of the company’s stock, valued at $16,809,590. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Sara Trickett sold 887 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,433 shares of company stock valued at $14,708,896. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in WEX by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock worth $816,919,000 after purchasing an additional 67,893 shares during the last quarter. BlackRock Inc. raised its position in shares of WEX by 1.2% during the 1st quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock valued at $732,950,000 after buying an additional 49,480 shares during the period. Wellington Management Group LLP lifted its holdings in WEX by 4.2% in the first quarter. Wellington Management Group LLP now owns 4,101,566 shares of the business services provider’s stock valued at $731,925,000 after acquiring an additional 164,902 shares during the last quarter. Morgan Stanley grew its position in WEX by 342.4% in the fourth quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock worth $337,102,000 after acquiring an additional 1,594,294 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in WEX by 3.0% during the first quarter. JPMorgan Chase & Co. now owns 1,336,884 shares of the business services provider’s stock worth $245,840,000 after acquiring an additional 39,312 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Price Performance

Shares of NYSE WEX opened at $230.48 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 52 week low of $161.95 and a 52 week high of $244.04. The business’s 50 day moving average price is $229.66 and its 200 day moving average price is $202.31. The firm has a market cap of $9.62 billion, a P/E ratio of 37.42, a P/E/G ratio of 1.49 and a beta of 1.59.

WEX (NYSE:WEX) last posted its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The business had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. On average, sell-side analysts expect that WEX will post 13.55 earnings per share for the current year.

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.