Analysts Set WEX Inc. (NYSE:WEX) Target Price at $235.91

WEX Inc. (NYSE:WEX) has been given an average recommendation of “Moderate Buy” by the thirteen analysts that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $235.91.

WEX has been the topic of a number of research analyst reports. 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 report on Tuesday, August 20th. Wells Fargo & Company lowered their target price on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Jefferies Financial Group raised their target price on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Wolfe Research lowered WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Finally, Bank of America lifted their price objective on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th.

Insider Buying and Selling

In other WEX news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the transaction, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. The trade was a 6.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WEX

Institutional investors have recently bought and sold shares of the business. Venturi Wealth Management LLC raised its position in WEX by 206.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. International Assets Investment Management LLC bought a new position in WEX in the 2nd quarter valued at $33,000. Quarry LP raised its position in WEX by 717.4% in the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 165 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in WEX in the 3rd quarter valued at $35,000. Finally, Blue Trust Inc. raised its position in WEX by 456.1% in the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 187 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

WEX Stock Performance

Shares of NYSE WEX opened at $185.94 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 1.47 and a beta of 1.57. The business’s 50-day simple moving average is $195.78 and its 200-day simple moving average is $187.66. WEX has a 52 week low of $165.51 and a 52 week high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. The business had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.44 EPS. As a group, equities research analysts expect that WEX will post 13.1 earnings per share for the current fiscal 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.