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, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements. This segment markets its products directly and indirectly to commercial and government vehicle fleet customers with small, medium, and large fleets, as well as with over-the-road and long haul fleets; and indirectly through co-branded and private label relationships. The Travel and Corporate Solutions segment provides payment solutions, including embedded payments; and accounts payable automation and spend management solutions. Its products include virtual cards that are used for transactions where no card is presented. This segment markets its products directly and indirectly to commercial and government organizations. The Health and Employee Benefit Solutions segment offers healthcare payment products and software-as-a-service consumer directed platforms for healthcare market, as well as payroll related and employee benefit products in Brazil. This segment markets its products through health plans, third-party administrators, financial institutions, payroll companies benefits consultants, software providers, and individuals. The company was formerly known as Wright Express Corporation and changed its name to WEX Inc. in October 2012. WEX Inc. was founded in 1983 and is based in Portland, Maine.
WEX Trading Down 0.3 %
WEX Stock traded down $0.47 during midday trading on Tuesday, reaching $165.26. The stock had a trading volume of 331,480 shares, compared to its average volume of 371,500. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.52. WEX has a twelve month low of $123.01 and a twelve month high of $197.70. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 38.62, a PEG ratio of 0.75 and a beta of 1.55. The business has a fifty day simple moving average of $162.32 and a two-hundred day simple moving average of $165.00.
WEX (NYSE:WEX - Get Rating) last issued its earnings results on Thursday, July 28th. The business services provider reported $3.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.03 by $0.25. WEX had a return on equity of 24.68% and a net margin of 9.23%. The firm had revenue of $598.20 million for the quarter, compared to analysts' expectations of $571.33 million. During the same quarter last year, the business earned $1.93 earnings per share. The company's revenue was up 30.2% compared to the same quarter last year. As a group, research analysts expect that WEX will post 11.81 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on WEX shares. Mizuho increased their price objective on WEX from $212.00 to $220.00 and gave the company a "buy" rating in a research report on Monday, August 1st. Wells Fargo & Company reduced their target price on WEX to $206.00 in a research report on Friday, July 22nd. Evercore ISI reaffirmed an "outperform" rating and issued a $230.00 target price on shares of WEX in a research report on Thursday, June 2nd. Citigroup upgraded WEX from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $190.00 to $210.00 in a research note on Thursday, June 9th. Finally, Barclays raised their target price on WEX from $217.00 to $220.00 and gave the company an "overweight" rating in a research note on Monday, August 1st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $205.73.
Insider Activity
In other news, insider Melanie J. Tinto sold 782 shares of WEX stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $172.22, for a total transaction of $134,676.04. Following the transaction, the insider now owns 6,751 shares in the company, valued at approximately $1,162,657.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Melanie J. Tinto sold 782 shares of WEX stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $172.22, for a total transaction of $134,676.04. Following the transaction, the insider now owns 6,751 shares in the company, valued at approximately $1,162,657.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer Kimball sold 764 shares of WEX stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $169.35, for a total value of $129,383.40. The disclosure for this sale can be found here. Insiders have sold 4,465 shares of company stock worth $762,355 in the last 90 days. Corporate insiders own 1.00% of the company's stock.
