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

WEX Inc. (NYSE:WEX - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $235.91.

Several analysts recently issued reports on WEX shares. Bank of America raised their target price on WEX from $238.00 to $255.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods cut their price objective on WEX from $275.00 to $230.00 and set an "outperform" rating on the stock in a research report on Monday, July 8th. Jefferies Financial Group upped 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 cut shares of WEX from an "outperform" rating to a "peer perform" rating in a report on Monday. Finally, Robert W. Baird reduced their price objective on shares of WEX from $285.00 to $230.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th.

Insider Activity

In related news, CFO Jagtar Narula sold 508 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction dated 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 of the company's stock, valued at $1,424,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ann Elena Drew sold 1,182 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the sale, the insider now directly owns 5,584 shares in the company, valued at $964,524.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,341 shares of company stock worth $605,704. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On WEX

A number of hedge funds have recently added to or reduced their stakes in WEX. International Assets Investment Management LLC purchased a new position in shares of WEX in the second quarter worth $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 worth $33,000 after buying an additional 165 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of WEX by 456.1% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider's stock valued at $40,000 after acquiring an additional 187 shares during the last quarter. Covestor Ltd boosted its holdings in shares of WEX by 233.9% during the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider's stock valued at $44,000 after acquiring an additional 131 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of WEX in the first quarter worth approximately $60,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Trading Up 0.3 %

WEX stock traded up $0.60 during trading hours on Wednesday, reaching $173.76. The company had a trading volume of 500,358 shares, compared to its average volume of 356,525. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 1.24 and a beta of 1.55. WEX has a 12-month low of $162.97 and a 12-month high of $244.04. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50-day moving average price of $199.51 and a 200 day moving average price of $193.08.

WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $665.50 million during the quarter, compared to analyst estimates of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm's revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.44 EPS. Equities analysts forecast that WEX will post 13.65 earnings per share for the current 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.