Several other brokerages also recently issued reports on WEX. Deutsche Bank upped their price target on shares of WEX from $226.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Wolfe Research set a $240.00 price target on WEX and gave the company a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group raised their price objective on WEX from $215.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday. They noted that the move was a valuation call. Robert W. Baird restated a “positive” rating and set a $260.00 price objective (up previously from $245.00) on shares of WEX in a research report on Monday, January 27th. Finally, Cowen assumed coverage on WEX in a research report on Friday, January 31st. They set a “market perform” rating and a $249.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $238.06.
Shares of WEX stock opened at $231.66 on Thursday. The firm has a market capitalization of $10.03 billion, a PE ratio of 153.42, a price-to-earnings-growth ratio of 1.53 and a beta of 1.51. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.46. The firm’s 50 day moving average is $218.95 and its 200 day moving average is $206.22. WEX has a 1 year low of $169.48 and a 1 year high of $234.95.
WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.56 by $0.05. The business had revenue of $440.05 million during the quarter, compared to analysts’ expectations of $455.69 million. WEX had a net margin of 3.95% and a return on equity of 18.86%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.02 EPS. As a group, research analysts anticipate that WEX will post 8.39 earnings per share for the current year.
In other news, CEO Melissa D. Smith sold 13,736 shares of WEX stock in a transaction on Monday, January 6th. The shares were sold at an average price of $214.99, for a total transaction of $2,953,102.64. Following the transaction, the chief executive officer now owns 71,339 shares in the company, valued at $15,337,171.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Roberto Simon sold 7,651 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.03, for a total transaction of $1,530,429.53. Following the completion of the sale, the chief financial officer now directly owns 16,902 shares in the company, valued at approximately $3,380,907.06. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. bought a new position in WEX during the 3rd quarter worth approximately $25,000. Chevy Chase Trust Holdings Inc. acquired a new position in shares of WEX in the 4th quarter worth approximately $34,000. Solstein Capital LLC acquired a new position in shares of WEX in the 4th quarter worth approximately $37,000. Banque Cantonale Vaudoise bought a new stake in shares of WEX in the 4th quarter valued at $53,000. Finally, Ancora Advisors LLC bought a new stake in shares of WEX in the 4th quarter valued at $57,000. 98.26% of the stock is owned by institutional investors and hedge funds.
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.
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