Brokerages Set WEX Inc. (NYSE:WEX) PT at $240.42

Shares of WEX Inc. (NYSE:WEX) have received an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $239.58.

Several research analysts have weighed in on the stock. William Blair raised shares of WEX to a “strong-buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lowered their target price on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday. Wells Fargo & Company reduced their price target on WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods lowered their price objective on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th.

Insider Activity

In related news, insider Ann Elena Drew sold 1,182 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the sale, the insider now owns 5,584 shares in the company, valued at approximately $964,524.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Jagtar Narula sold 540 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $180.00, for a total transaction of $97,200.00. Following the completion of the sale, the chief financial officer now directly owns 8,168 shares in the company, valued at approximately $1,470,240. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ann Elena Drew sold 1,182 shares of WEX stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the transaction, the insider now owns 5,584 shares in the company, valued at approximately $964,524.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,826 shares of company stock worth $693,369. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WEX

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new position in WEX in the 4th quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in shares of WEX during the first quarter worth $29,000. Principal Securities Inc. bought a new position in shares of WEX in the 4th quarter valued at $31,000. International Assets Investment Management LLC acquired a new stake in shares of WEX during the 2nd quarter valued at $33,000. Finally, Quarry LP grew its position in WEX by 717.4% during the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after acquiring an additional 165 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Stock Up 0.3 %

WEX stock opened at $181.99 on Friday. WEX has a 1-year low of $161.95 and a 1-year high of $244.04. The business’s 50 day simple moving average is $177.81 and its 200 day simple moving average is $202.44. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $7.63 billion, a PE ratio of 29.59, a PEG ratio of 1.06 and a beta of 1.54.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.20 by $0.09. The firm had revenue of $673.50 million for the quarter, compared to the consensus estimate of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. As a group, research analysts anticipate that WEX will post 13.73 EPS 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.