WEX (NYSE:WEX) Given Hold (C) Rating at Weiss Ratings

Key Points

• WEX has received a "hold (c)" rating from Weiss Ratings, with 12 analysts giving a Hold rating and 4 analysts rating it as a Buy.
• Recent price target adjustments include increases from Morgan Stanley ($170), Robert W. Baird ($210), and Mizuho ($185), indicating a positive outlook for the stock.
• The company's stock price recently traded at $160.41, with a twelve-month range of $110.45 to $191.43, and a market cap of $5.50 billion.

WEX (NYSE:WEX - Get Free Report)'s stock had its "hold (c)" rating reissued by stock analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Several other research analysts have also recently weighed in on WEX. Morgan Stanley boosted their target price on WEX from $142.00 to $170.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Robert W. Baird lifted their price objective on WEX from $198.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. Barclays boosted their price objective on WEX from $135.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Deutsche Bank Aktiengesellschaft started coverage on WEX in a research note on Thursday, July 17th. They issued a "hold" rating and a $150.00 target price for the company. Finally, Mizuho boosted their price target on shares of WEX from $150.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $173.91.

WEX Price Performance

WEX traded up $0.35 on Friday, reaching $160.41. 75,387 shares of the company's stock were exchanged, compared to its average volume of 613,456. WEX has a twelve month low of $110.45 and a twelve month high of $191.43. The stock has a market cap of $5.50 billion, a PE ratio of 20.28, a P/E/G ratio of 1.36 and a beta of 1.26. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.04 and a quick ratio of 1.04. The stock's fifty day moving average price is $164.02 and its 200-day moving average price is $150.41.

Insiders Place Their Bets

In other WEX news, COO Carlos Carriedo sold 875 shares of WEX stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $171.68, for a total transaction of $150,220.00. Following the completion of the sale, the chief operating officer directly owned 5,270 shares in the company, valued at $904,753.60. This trade represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ann Elena Drew sold 1,931 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total transaction of $331,533.39. Following the completion of the sale, the insider directly owned 7,295 shares in the company, valued at $1,252,478.55. This trade represents a 20.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Institutional Trading of WEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its stake in shares of WEX by 36.7% in the third quarter. State of Alaska Department of Revenue now owns 5,272 shares of the business services provider's stock valued at $830,000 after buying an additional 1,416 shares in the last quarter. Radnor Capital Management LLC boosted its holdings in WEX by 5.4% during the 3rd quarter. Radnor Capital Management LLC now owns 9,315 shares of the business services provider's stock valued at $1,467,000 after acquiring an additional 475 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in WEX by 22.3% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 8,219 shares of the business services provider's stock valued at $1,295,000 after acquiring an additional 1,500 shares in the last quarter. Burney Co. purchased a new stake in WEX during the third quarter worth about $2,677,000. Finally, Blue Trust Inc. boosted its stake in shares of WEX by 10.7% in the third quarter. Blue Trust Inc. now owns 2,838 shares of the business services provider's stock valued at $447,000 after purchasing an additional 275 shares during the period. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Company Profile

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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