WEX Inc. (NYSE:WEX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of WEX Inc. (NYSE:WEX) have been given a consensus rating of “Moderate Buy” by the thirteen research firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $240.00.

Several research analysts have commented on the stock. Truist Financial lifted their price objective on shares of WEX from $185.00 to $220.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. StockNews.com downgraded shares of WEX from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Citigroup raised their price objective on shares of WEX from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. TheStreet upgraded WEX from a “c” rating to a “b” rating in a report on Thursday, February 8th. Finally, William Blair restated an “outperform” rating on shares of WEX in a report on Thursday, February 8th.

WEX Stock Performance

WEX stock opened at $211.66 on Wednesday. The company’s 50-day moving average price is $229.31 and its 200-day moving average price is $205.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.73. The company has a market cap of $8.87 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 1.22 and a beta of 1.60. WEX has a twelve month low of $161.95 and a twelve month high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.29 by ($0.15). The company had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. WEX had a return on equity of 30.92% and a net margin of 10.21%. On average, equities research analysts forecast that WEX will post 13.96 EPS for the current fiscal year.

Insider Activity at WEX

In other WEX news, CEO Melissa D. Smith sold 13,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $222.33, for a total transaction of $2,890,290.00. Following the transaction, the chief executive officer now directly owns 81,998 shares in the company, valued at approximately $18,230,615.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other WEX news, CEO Melissa D. Smith sold 13,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $222.33, for a total transaction of $2,890,290.00. Following the completion of the sale, the chief executive officer now owns 81,998 shares in the company, valued at $18,230,615.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jagtar Narula sold 309 shares of WEX stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total value of $72,071.16. Following the completion of the transaction, the chief financial officer now owns 5,528 shares in the company, valued at $1,289,350.72. The disclosure for this sale can be found here. Insiders sold 32,157 shares of company stock worth $7,090,562 over the last three months. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in WEX by 19,044.7% during the fourth quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock valued at $7,002,000 after acquiring an additional 35,804 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of WEX by 2.7% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock valued at $177,076,000 after purchasing an additional 22,865 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of WEX by 2,524.0% in the 4th quarter. Handelsbanken Fonder AB now owns 163,844 shares of the business services provider’s stock worth $31,876,000 after purchasing an additional 157,600 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in WEX by 56.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 141,287 shares of the business services provider’s stock worth $26,575,000 after buying an additional 50,771 shares during the last quarter. Finally, Burney Co. increased its position in WEX by 131.1% during the 3rd quarter. Burney Co. now owns 21,120 shares of the business services provider’s stock valued at $3,972,000 after buying an additional 11,983 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.