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WEX Inc. (NYSE:WEX) Receives Average Rating of "Hold" from Brokerages

WEX logo with Business Services background

Key Points

  • WEX Inc. has received an average rating of "Hold" from 15 brokerages, with 12 recommending a hold and 3 suggesting a buy, and the average target price is $180.25.
  • The company's CEO, Melissa D. Smith, acquired over 3,700 shares at about $134.57 each, boosting her ownership, while CAO Jennifer Kimball sold 1,400 shares at a loss.
  • WEX has seen significant interest from hedge funds, with many institutional investors purchasing or increasing their stakes recently, contributing to nearly 97.47% of the stock being owned by such funds.
  • MarketBeat previews the top five stocks to own by September 1st.

Shares of WEX Inc. (NYSE:WEX - Get Free Report) have earned a consensus recommendation of "Hold" from the fifteen brokerages that are currently covering the stock, Marketbeat reports. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $181.50.

WEX has been the topic of a number of recent research reports. Wells Fargo & Company cut their price target on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Mizuho raised their target price on WEX from $150.00 to $185.00 and gave the company an "outperform" rating in a report on Friday. Robert W. Baird upped their price target on WEX from $186.00 to $198.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft assumed coverage on WEX in a report on Thursday, July 17th. They set a "hold" rating and a $150.00 price objective on the stock. Finally, Oppenheimer initiated coverage on WEX in a report on Thursday, May 15th. They issued a "market perform" rating for the company.

Check Out Our Latest Analysis on WEX

Insiders Place Their Bets

In related news, CEO Melissa D. Smith acquired 3,721 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were bought at an average price of $134.57 per share, for a total transaction of $500,734.97. Following the acquisition, the chief executive officer owned 101,182 shares in the company, valued at $13,616,061.74. This trade represents a 3.82% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer Kimball sold 1,400 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $131.08, for a total transaction of $183,512.00. Following the transaction, the chief accounting officer directly owned 3,177 shares of the company's stock, valued at $416,441.16. This represents a 30.59% decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of WEX

Several institutional investors have recently modified their holdings of WEX. Investment Management Corp VA ADV acquired a new position in shares of WEX in the fourth quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of WEX by 282.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 214 shares of the business services provider's stock valued at $31,000 after buying an additional 158 shares in the last quarter. State of Wyoming bought a new position in shares of WEX during the 4th quarter worth about $35,000. Farther Finance Advisors LLC boosted its position in shares of WEX by 161.5% during the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock valued at $44,000 after acquiring an additional 168 shares in the last quarter. Finally, Quarry LP bought a new stake in WEX in the first quarter valued at about $44,000. Institutional investors and hedge funds own 97.47% of the company's stock.

WEX Stock Down 1.8%

Shares of WEX traded down $3.12 during midday trading on Friday, reaching $166.56. 384,082 shares of the stock were exchanged, compared to its average volume of 487,833. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 1.59 and a beta of 1.28. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 3.99. WEX has a 12-month low of $110.45 and a 12-month high of $217.47. The firm has a 50 day simple moving average of $148.88 and a 200-day simple moving average of $148.98.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.11. The firm had revenue of $636.60 million for the quarter, compared to analyst estimates of $631.42 million. WEX had a net margin of 11.79% and a return on equity of 41.87%. The company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.46 earnings per share. Research analysts forecast that WEX will post 14.09 EPS for the current year.

WEX Company Profile

(Get Free Report

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.

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