WEX Inc. (WEX) Price Target Increased to $125.00 by Analysts at Citigroup Inc.

WEX Inc. (NYSE:WEX) had its price objective lifted by investment analysts at Citigroup Inc. from $120.00 to $125.00 in a research report issued to clients and investors on Friday, November 3rd. The firm presently has a “neutral” rating on the business services provider’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 2.16% from the stock’s previous close.

WEX has been the subject of several other reports. Barclays PLC boosted their price objective on shares of WEX from $118.00 to $124.00 and gave the company an “equal weight” rating in a report on Wednesday, October 11th. Oppenheimer Holdings, Inc. boosted their price objective on shares of WEX from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. BidaskClub raised shares of WEX from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. TheStreet raised shares of WEX from a “c+” rating to a “b” rating in a report on Wednesday, November 1st. Finally, Raymond James Financial, Inc. assumed coverage on shares of WEX in a report on Friday, August 25th. They set an “outperform” rating and a $115.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. WEX presently has an average rating of “Buy” and a consensus target price of $127.67.

Shares of WEX (WEX) traded down $0.30 during trading on Friday, reaching $122.36. 217,051 shares of the company’s stock traded hands, compared to its average volume of 404,819. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $5,119.58, a PE ratio of 24.91, a PEG ratio of 1.70 and a beta of 1.88. WEX has a twelve month low of $97.26 and a twelve month high of $125.56.

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, November 1st. The business services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.14. WEX had a net margin of 7.09% and a return on equity of 13.16%. The firm had revenue of $324.00 million during the quarter, compared to analysts’ expectations of $312.57 million. During the same period in the previous year, the company earned $1.25 earnings per share. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. research analysts forecast that WEX will post 4.89 earnings per share for the current fiscal year.

WEX declared that its board has approved a stock repurchase program on Tuesday, September 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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In other news, CEO Melissa D. Smith sold 3,329 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $125.00, for a total value of $416,125.00. Following the transaction, the chief executive officer now owns 60,380 shares of the company’s stock, valued at $7,547,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Melissa D. Smith sold 3,333 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $115.00, for a total transaction of $383,295.00. Following the completion of the transaction, the chief executive officer now directly owns 67,047 shares in the company, valued at approximately $7,710,405. The disclosure for this sale can be found here. Insiders sold 189,707 shares of company stock worth $22,752,345 in the last three months. Insiders own 0.86% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC purchased a new stake in WEX during the second quarter valued at $289,000. Mutual of America Capital Management LLC raised its stake in WEX by 1.5% during the third quarter. Mutual of America Capital Management LLC now owns 32,432 shares of the business services provider’s stock valued at $3,640,000 after purchasing an additional 472 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of WEX by 5.5% in the second quarter. Capstone Asset Management Co. now owns 3,631 shares of the business services provider’s stock valued at $379,000 after acquiring an additional 190 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of WEX in the second quarter valued at $1,411,000. Finally, BlackRock Inc. raised its stake in shares of WEX by 15,129.9% in the first quarter. BlackRock Inc. now owns 3,044,752 shares of the business services provider’s stock valued at $315,131,000 after acquiring an additional 3,024,760 shares during the period.

About WEX

WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.

Analyst Recommendations for WEX (NYSE:WEX)

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