Brokerages Set WEX Inc. (NYSE:WEX) Price Target at $228.64

WEX Inc. (NYSE:WEX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the thirteen brokerages that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $228.64.

WEX has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on WEX from $200.00 to $180.00 and set an "equal weight" rating for the company in a report on Friday, October 25th. Robert W. Baird decreased their price target on shares of WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Jefferies Financial Group upped their price objective on shares of WEX from $190.00 to $210.00 and gave the stock 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, October 28th. Finally, Bank of America upped their target price on shares of WEX from $238.00 to $255.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th.

Insider Activity at WEX

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the transaction, the chief operating officer now directly owns 7,582 shares in the company, valued at $1,436,334.08. The trade was a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WEX

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in WEX in the 2nd quarter valued at about $390,000. Blue Trust Inc. lifted its stake 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 buying an additional 187 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in WEX by 78.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,315 shares of the business services provider's stock worth $1,296,000 after buying an additional 3,215 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in WEX by 115.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,489 shares of the business services provider's stock valued at $441,000 after buying an additional 1,336 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in WEX during the 2nd quarter valued at $250,000. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Stock Down 0.3 %

NYSE WEX traded down $0.45 on Thursday, hitting $167.45. 333,860 shares of the company were exchanged, compared to its average volume of 360,574. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The company has a market cap of $6.66 billion, a PE ratio of 21.25, a PEG ratio of 1.39 and a beta of 1.57. The stock has a fifty day moving average of $187.12 and a 200-day moving average of $186.26. WEX has a 12 month low of $165.51 and a 12 month high of $244.04.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The company had revenue of $665.50 million for the quarter, compared to analysts' expectations of $688.03 million. During the same quarter in the prior year, the firm earned $3.44 EPS. The business's revenue was up 2.2% on a year-over-year basis. As a group, analysts forecast that WEX will post 13.1 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.