WEX Inc. (NYSE:WEX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of WEX Inc. (NYSE:WEX) have been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and seven 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 $240.00.

A number of brokerages have issued reports on WEX. Citigroup increased their target price on shares of WEX from $240.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday. Evercore ISI lifted their price objective on WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Truist Financial upped their target price on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. lifted their price target on WEX from $205.00 to $239.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, StockNews.com cut shares of WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th.

WEX Stock Up 0.3 %

WEX stock opened at $230.48 on Friday. The stock’s 50 day moving average price is $229.66 and its 200 day moving average price is $202.31. WEX has a 1-year low of $161.95 and a 1-year high of $244.04. The company has a market cap of $9.62 billion, a PE ratio of 37.42, a price-to-earnings-growth ratio of 1.49 and a beta of 1.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05.

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

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 309 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the transaction, the chief financial officer now owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the completion of the transaction, the chief financial officer now directly owns 5,528 shares in the company, valued at $1,289,350.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Melissa D. Smith sold 41,107 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 81,998 shares in the company, valued at $16,809,590. The disclosure for this sale can be found here. In the last three months, insiders sold 69,433 shares of company stock valued at $14,708,896. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WEX

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FinTrust Capital Advisors LLC purchased a new stake in shares of WEX during the 4th quarter valued at $25,000. VisionPoint Advisory Group LLC boosted its holdings in WEX by 74.7% in the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 62 shares during the last quarter. GAMMA Investing LLC purchased a new stake in WEX during the fourth quarter valued at about $27,000. Rise Advisors LLC acquired a new stake in WEX during the first quarter worth about $29,000. Finally, Principal Securities Inc. purchased a new position in shares of WEX in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

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.