WEX Inc. (NYSE:WEX) Stock Has Consensus Target Price of $186.40 According to Brokerages

Key Points

• Analyst consensus is “Hold” for WEX, with eight hold ratings and five buy ratings. The average 12-month price target is $186.40, below the reported stock price of $197.72.
• WEX exceeded quarterly expectations, reporting adjusted EPS of $5.35 versus the $5.08 consensus and revenue of $753.5 million versus $740.72 million expected; revenue grew 14.2% year over year.
• Company insiders sold 40,110 shares worth approximately $7.55 million over the past quarter, while institutional investors hold a substantial 97.47% of outstanding shares.

Shares of WEX Inc. (NYSE:WEX - Get Free Report) have been assigned a consensus recommendation of "Hold" from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $186.40.

Several research firms have recently weighed in on WEX. Piper Sandler assumed coverage on WEX in a research report on Thursday, September 10th. They set a "neutral" rating and a $209.00 target price for the company. Evercore upgraded shares of WEX to an "outperform" rating in a report on Tuesday, July 21st. Mizuho raised their price target on shares of WEX from $170.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Morgan Stanley lifted their price objective on shares of WEX from $161.00 to $172.00 and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Finally, Cantor Fitzgerald set a $178.00 price objective on shares of WEX in a research report on Monday, July 27th.

WEX Price Performance

WEX stock opened at $197.72 on Friday. WEX has a 52 week low of $125.29 and a 52 week high of $203.99. The firm has a market capitalization of $6.74 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 1.01 and a beta of 0.84. The company has a fifty day simple moving average of $186.76 and a two-hundred day simple moving average of $166.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.62.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.08 by $0.27. The company had revenue of $753.50 million during the quarter, compared to the consensus estimate of $740.72 million. WEX had a return on equity of 43.19% and a net margin of 12.56%. WEX's revenue was up 14.2% on a year-over-year basis. During the same period last year, the company earned $3.95 earnings per share. Analysts anticipate that WEX will post 17.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other WEX news, CEO Melissa D. Smith sold 28,109 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $190.09, for a total transaction of $5,343,239.81. Following the transaction, the chief executive officer owned 126,625 shares of the company's stock, valued at approximately $24,070,146.25. This trade represents a 18.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Robert Deshaies sold 2,000 shares of the business's stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $173.56, for a total transaction of $347,120.00. Following the completion of the sale, the chief operating officer owned 17,288 shares of the company's stock, valued at approximately $3,000,505.28. This represents a 10.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 40,110 shares of company stock valued at $7,551,186 over the last quarter. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On WEX

Institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC purchased a new stake in WEX during the third quarter worth $25,000. Global Retirement Partners LLC bought a new stake in WEX during the 2nd quarter valued at $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of WEX in the 2nd quarter valued at $41,000. Reyes Financial Architecture Inc. purchased a new position in shares of WEX in the 3rd quarter valued at $47,000. Finally, Farther Finance Advisors LLC raised its position in shares of WEX by 65.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 519 shares of the business services provider's stock worth $88,000 after acquiring an additional 205 shares in the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

About WEX

WEX Inc NYSE: WEX is a financial technology company that provides payment-processing and business-management solutions. Its products are designed to help organizations manage corporate spending, employee benefits and mobility-related expenses through specialized payment accounts, software and data tools.

WEX's mobility business serves commercial vehicle fleets with fuel cards, fleet-payment programs, expense controls, telematics integrations and related solutions. The company also supports emerging mobility needs, including electric-vehicle charging payments.

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