Brokerages Set WEX Inc. (NYSE:WEX) PT at $171.36

WEX Inc. (NYSE:WEX) has been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the stock, Marketbeat.com reports. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $170.25.

A number of analysts have commented on WEX shares. Wall Street Zen raised WEX from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. UBS Group decreased their target price on WEX from $185.00 to $172.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Cantor Fitzgerald initiated coverage on shares of WEX in a report on Monday. They issued a “neutral” rating and a $158.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of WEX in a research note on Wednesday, January 21st. Finally, Bank of America upgraded shares of WEX from a “neutral” rating to a “buy” rating and set a $178.00 price objective on the stock in a research note on Wednesday, October 22nd.

WEX Price Performance

Shares of WEX stock opened at $156.93 on Friday. WEX has a fifty-two week low of $110.45 and a fifty-two week high of $188.70. The company has a debt-to-equity ratio of 3.33, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.18 and a beta of 0.99. The stock’s 50-day simple moving average is $152.61 and its 200-day simple moving average is $158.26.

WEX (NYSE:WEX) last released its earnings results on Wednesday, October 29th. The business services provider reported $4.59 EPS for the quarter, topping analysts’ consensus estimates of $4.45 by $0.14. WEX had a net margin of 10.81% and a return on equity of 45.10%. The company had revenue of $691.80 million during the quarter, compared to analysts’ expectations of $678.25 million. During the same period last year, the business earned $4.35 EPS. WEX’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts forecast that WEX will post 14.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Robert Joseph Deshaies sold 1,506 shares of WEX stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $149.62, for a total transaction of $225,327.72. Following the completion of the transaction, the chief operating officer directly owned 15,699 shares in the company, valued at approximately $2,348,884.38. This trade represents a 8.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen Montgomery Smith purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was bought at an average cost of $144.25 per share, with a total value of $144,250.00. Following the completion of the acquisition, the director directly owned 7,971 shares of the company’s stock, valued at $1,149,816.75. This trade represents a 14.35% increase in their position. The SEC filing for this purchase provides additional information. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On WEX

Several large investors have recently made changes to their positions in WEX. Quent Capital LLC acquired a new stake in WEX during the third quarter valued at $28,000. Caitong International Asset Management Co. Ltd grew its position in shares of WEX by 368.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 220 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 173 shares during the period. Steph & Co. purchased a new position in shares of WEX in the 3rd quarter valued at about $35,000. Hantz Financial Services Inc. raised its holdings in WEX by 162.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 228 shares of the business services provider’s stock worth $36,000 after purchasing an additional 141 shares during the period. Finally, First Horizon Corp boosted its position in WEX by 65.7% during the fourth quarter. First Horizon Corp now owns 237 shares of the business services provider’s stock worth $35,000 after purchasing an additional 94 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Company Profile

WEX Inc is a global financial technology company specializing in business payment solutions for fleet, travel, and corporate payments. The company delivers software-driven platforms and card-based services that help businesses automate payment processes, manage expenses and improve operational efficiency across a range of industries, including transportation, healthcare and government.

Founded in 1983 as Wright Express in Portland, Maine, the company began by offering fuel card services to trucking fleets.