WEX Inc. (NYSE:WEX) Receives Average Recommendation of "Hold" from Analysts

WEX Inc. (NYSE:WEX - Get Free Report) has been assigned an average recommendation of "Hold" from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $199.73.

Several equities analysts have recently issued reports on WEX shares. Citigroup cut WEX from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. UBS Group reduced their price objective on WEX from $200.00 to $172.00 and set a "neutral" rating for the company in a research note on Friday. Wolfe Research cut WEX from an "outperform" rating to a "peer perform" rating in a research note on Monday, October 28th. Robert W. Baird dropped their target price on WEX from $285.00 to $230.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Finally, Barclays dropped their target price on WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a report on Monday.

WEX Price Performance

NYSE WEX traded up $0.84 during mid-day trading on Friday, hitting $152.92. The stock had a trading volume of 510,942 shares, compared to its average volume of 485,590. The firm's 50 day moving average is $177.60 and its 200 day moving average is $185.82. WEX has a twelve month low of $146.03 and a twelve month high of $244.04. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.24 and a beta of 1.58.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. Equities research analysts forecast that WEX will post 14.27 earnings per share for the current fiscal year.

Insider Buying and Selling at WEX

In other news, COO Robert Joseph Deshaies sold 175 shares of WEX stock in a transaction on Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the transaction, the chief operating officer now owns 7,582 shares in the company, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its position in shares of WEX by 40.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the business services provider's stock worth $77,000 after buying an additional 124 shares during the last quarter. Truist Financial Corp increased its stake in WEX by 21.0% during the second quarter. Truist Financial Corp now owns 2,943 shares of the business services provider's stock valued at $521,000 after acquiring an additional 510 shares during the period. Cetera Investment Advisers raised its holdings in shares of WEX by 4.4% in the 2nd quarter. Cetera Investment Advisers now owns 13,874 shares of the business services provider's stock worth $2,458,000 after buying an additional 585 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of WEX during the 2nd quarter worth about $397,000. Finally, GAMMA Investing LLC increased its position in shares of WEX by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider's stock worth $63,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.

About WEX

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.