WEX Inc. (NYSE:WEX) Given Consensus Recommendation of “Hold” by Analysts

WEX Inc. (NYSE:WEX) has received an average recommendation of “Hold” from the sixteen analysts that are currently covering the firm, Marketbeat reports. Thirteen analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $173.50.

A number of brokerages recently weighed in on WEX. UBS Group increased their price target on shares of WEX from $138.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Morgan Stanley increased their price target on shares of WEX from $142.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Friday, July 25th. Zacks Research cut shares of WEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. William Blair restated a “market perform” rating on shares of WEX in a research note on Friday, July 25th. Finally, Barclays raised their target price on shares of WEX from $135.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Monday, July 28th.

Insider Buying and Selling at WEX

In other news, COO Carlos Carriedo sold 875 shares of the firm’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $171.68, for a total value of $150,220.00. Following the completion of the sale, the chief operating officer owned 5,270 shares in the company, valued at approximately $904,753.60. This trade represents a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ann Elena Drew sold 1,931 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total transaction of $331,533.39. Following the completion of the sale, the insider owned 7,295 shares of the company’s stock, valued at $1,252,478.55. This trade represents a 20.93% decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of WEX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of WEX by 282.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 214 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 158 shares during the period. Steph & Co. acquired a new stake in shares of WEX in the third quarter valued at about $35,000. Farther Finance Advisors LLC lifted its stake in shares of WEX by 161.5% in the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 168 shares during the period. Quarry LP acquired a new stake in shares of WEX in the first quarter valued at about $44,000. Finally, SVB Wealth LLC acquired a new stake in shares of WEX in the first quarter valued at about $49,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Up 1.7%

Shares of NYSE:WEX opened at $150.18 on Wednesday. The stock has a market cap of $5.14 billion, a P/E ratio of 18.99, a P/E/G ratio of 1.41 and a beta of 1.26. The firm has a fifty day moving average price of $165.34 and a 200 day moving average price of $149.88. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.04 and a quick ratio of 1.04. WEX has a 1-year low of $110.45 and a 1-year high of $217.47.

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.