WEX Inc. (NYSE:WEX – Get Rating) has been assigned an average recommendation of “Hold” by the fourteen rating agencies that currently cover the company, MarketBeat reports. One equity research analyst rated the stock with a sell recommendation, five gave the company a hold recommendation and five gave the company a buy recommendation. The 12-month average price target among brokers who have covered the stock over the past year is $203.46.
Several equity research analysts have recently commented on WEX stocks. Credit Suisse Group raised its target price on the WEX from $180.00 to $195.00 and gave the stock a “neutral” rating in a Monday, February 14 research note. Truist Financial raised its price target on WEX from $170.00 to $185.00 in a Monday, February 14 report. Mizuho raised its target price on WEX from $220.00 to $235.00 in a Monday, May 2 report. Barclays raised its target price on WEX from $225.00 to $232.00 and gave the company an “overweight” rating in a Thursday, April 14 report. Finally, StockNews.com took over coverage from WEX in a Thursday, March 31 report. They issued a “holding” rating on the stock.
Shares of WEX traded at $6.66 on Friday, hitting $157.18. The company had a trading volume of 445,294 shares, compared to an average volume of 333,185. The company has a market capitalization of $7.07 billion, a P/E ratio of 56.95, a P/E ratio/ G of 0.75 and a beta of 1.62. The stock’s 50-day moving average is $168.15 and its two-hundred-day moving average is $155.83. The company has a debt ratio of 1.44, a quick ratio of 1.21 and a current ratio of 1.21. WEX has a 12-month low of $123.01 and a 12-month high of $208.38.
WEX (NYSE:WEX – Get Rating) last released its results on Thursday, April 28. The business services provider reported EPS of $2.88 for the quarter, beating the consensus estimate of $2.69 by $0.19. WEX had a return on equity of 21.38% and a net margin of 6.41%. The company posted revenue of $517.54 million in the quarter, compared to $507.87 million expected by analysts. In the same quarter last year, the company posted earnings per share of $1.47. The company’s revenue increased 26.0% year over year. Equity research analysts expect WEX to post an EPS of 11.42 for the current year.
In other news from WEX, COO Robert Joseph Deshaies sold 1,000 shares of the company in a trade on Monday, May 2. The stock was sold at an average price of $165.00, for a total value of $165,000.00. Following the completion of the sale, the COO now directly owns 9,555 shares of the company, valued at $1,576,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Additionally, insider Melanie J. Tinto sold 1,200 shares of the company in a trade on Monday, February 14. The stock was sold at an average price of $177.07, for a total value of $212,484.00. The disclosure of this sale can be found here. Insiders of the company own 1.26% of the shares of the company.
A number of large investors have recently increased or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its position in WEX by 45.6% in the first quarter. Ameritas Investment Partners Inc. now owns 17,273 shares of the business services provider worth $3,082,000 after buying an additional 5,406 shares in the last quarter. Renaissance Technologies LLC bought a new stock position of WEX in the first quarter worth $1,428,000. Charles Schwab Investment Management Inc. increased its position in WEX shares by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 304,937 shares of the business services provider valued at $54,416,000 after buying an additional 13,066 shares last quarter. Edgestream Partners LP bought a new position in WEX shares in the first quarter worth $206,000. Finally, Lazard Asset Management LLC bought a new position in WEX shares in the first quarter worth $44,000. 98.23% of the shares are held by institutional investors and hedge funds.
About WEX (Get an evaluation)
WEX Inc provides financial technology services in the United States and internationally. 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. Its services include customer services, account activation and account maintenance; authorization and billing requests and account maintenance services; credit and collection services; merchant services; analytics solutions with access to a web-based data analytics platform that provides insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.
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