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 Price Performance
Shares of NYSE:WEX traded up $1.37 during midday trading on Wednesday, hitting $165.75. 3,410 shares of the company's stock were exchanged, compared to its average volume of 375,020. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.52. The business's fifty day moving average price is $162.72 and its two-hundred day moving average price is $164.45. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 38.83, a PEG ratio of 0.75 and a beta of 1.55. WEX has a 12-month low of $123.01 and a 12-month high of $197.70.
WEX (NYSE:WEX - Get Rating) last released its quarterly earnings results on Thursday, July 28th. The business services provider reported $3.28 EPS for the quarter, topping analysts' consensus estimates of $3.03 by $0.25. The business had revenue of $598.20 million during the quarter, compared to analysts' expectations of $571.33 million. WEX had a net margin of 9.23% and a return on equity of 24.68%. The business's quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.93 EPS. As a group, research analysts forecast that WEX will post 11.81 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Evercore ISI reiterated an "outperform" rating and issued a $230.00 target price on shares of WEX in a research note on Thursday, June 2nd. Citigroup upgraded WEX from a "neutral" rating to a "buy" rating and increased their price target for the stock from $190.00 to $210.00 in a research note on Thursday, June 9th. Wells Fargo & Company cut their target price on shares of WEX to $206.00 in a research report on Friday, July 22nd. Mizuho upped their price target on shares of WEX from $212.00 to $220.00 and gave the company a "buy" rating in a research note on Monday, August 1st. Finally, Barclays boosted their target price on shares of WEX from $217.00 to $220.00 and gave the company an "overweight" rating in a report 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. Based on data from MarketBeat.com, WEX presently has an average rating of "Moderate Buy" and a consensus target price of $205.73.
Insider Buying and Selling at WEX
In other news, COO Robert Joseph Deshaies sold 1,200 shares of the company's stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $170.16, for a total value of $204,192.00. Following the completion of the transaction, the chief operating officer now directly owns 8,827 shares in the company, valued at approximately $1,502,002.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value of $134,676.04. Following the transaction, the insider now owns 6,751 shares in the company, valued at $1,162,657.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Robert Joseph Deshaies sold 1,200 shares of the business's stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $170.16, for a total value of $204,192.00. Following the completion of the sale, the chief operating officer now directly owns 8,827 shares of the company's stock, valued at approximately $1,502,002.32. The disclosure for this sale can be found here. Insiders have sold 4,465 shares of company stock worth $762,355 over the last 90 days. Corporate insiders own 1.00% of the company's stock.
