WEX (NYSE:WEX) Receives "Hold (C)" Rating from Weiss Ratings

Key Points

• WEX's stock received a "hold (C)" rating from Weiss Ratings, while also facing mixed reviews from other firms, with UBS raising its price target to $185.00.
• The company's share price rose to $158.36 recently, with a market cap of $5.43 billion and a 12-month trading range from $110.45 to $217.47.
• Insiders have been selling shares, including COO Carlos Carriedo who sold 875 shares at an average price of $171.68, signaling a 14.24% decrease in their ownership.

WEX (NYSE:WEX - Get Free Report)'s stock had its "hold (c)" rating reiterated by analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other research firms have also commented on WEX. William Blair reissued a "market perform" rating on shares of WEX in a research report on Friday, July 25th. UBS Group raised their price objective on WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Zacks Research lowered WEX from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Morgan Stanley lifted their target price on WEX from $142.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Finally, Robert W. Baird lifted their target price on WEX from $198.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. Three research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $180.91.

WEX Trading Up 0.6%

Shares of WEX traded up $0.97 during trading hours on Wednesday, hitting $158.36. The stock had a trading volume of 109,864 shares, compared to its average volume of 632,510. The company's fifty day simple moving average is $168.15 and its 200 day simple moving average is $150.10. The company has a debt-to-equity ratio of 3.99, a quick ratio of 1.04 and a current ratio of 1.04. WEX has a 12-month low of $110.45 and a 12-month high of $217.47. The firm has a market cap of $5.43 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.48 and a beta of 1.26.

Insider Buying and Selling

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

Institutional Investors Weigh In On WEX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boston Partners bought a new stake in WEX during the second quarter worth approximately $187,102,000. JPMorgan Chase & Co. increased its holdings in shares of WEX by 1.7% in the second quarter. JPMorgan Chase & Co. now owns 1,085,795 shares of the business services provider's stock valued at $159,494,000 after buying an additional 17,691 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of WEX by 2.6% in the first quarter. Earnest Partners LLC now owns 895,406 shares of the business services provider's stock valued at $140,597,000 after buying an additional 22,672 shares in the last quarter. Lyrical Asset Management LP increased its holdings in shares of WEX by 0.3% in the first quarter. Lyrical Asset Management LP now owns 826,188 shares of the business services provider's stock valued at $129,728,000 after buying an additional 2,754 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of WEX by 10.2% in the second quarter. Bank of America Corp DE now owns 809,658 shares of the business services provider's stock valued at $118,931,000 after buying an additional 75,003 shares in the last quarter. 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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