WEX Inc. (NYSE:WEX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $239.58.
A number of research analysts recently commented on WEX shares. Keefe, Bruyette & Woods lowered their price objective on WEX from $275.00 to $230.00 and set an "outperform" rating for the company in a research note on Monday, July 8th. JPMorgan Chase & Co. lowered their price objective on WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a research note on Tuesday, August 20th. William Blair upgraded WEX to a "strong-buy" rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company lowered their price objective on WEX from $200.00 to $190.00 and set an "equal weight" rating for the company in a research note on Friday, July 26th.
Read Our Latest Stock Report on WEX
WEX Stock Performance
Shares of NYSE WEX traded up $3.81 during trading on Friday, reaching $210.00. The stock had a trading volume of 298,978 shares, compared to its average volume of 343,101. WEX has a one year low of $161.95 and a one year high of $244.04. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $8.80 billion, a PE ratio of 34.15, a P/E/G ratio of 1.22 and a beta of 1.55. The firm's 50 day moving average price is $190.14 and its two-hundred day moving average price is $197.35.
WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $0.09. WEX had a return on equity of 31.05% and a net margin of 9.32%. The business had revenue of $673.50 million during the quarter, compared to the consensus estimate of $677.44 million. On average, research analysts forecast that WEX will post 13.75 earnings per share for the current fiscal year.
Insider Activity
In other news, CFO Jagtar Narula sold 508 shares of the company's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Ann Elena Drew sold 1,182 shares of the business's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $172.73, for a total transaction of $204,166.86. Following the sale, the insider now directly owns 5,584 shares of the company's stock, valued at $964,524.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jagtar Narula sold 508 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,985 shares of company stock worth $1,094,907 over the last 90 days. 1.10% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On WEX
A number of institutional investors and hedge funds have recently modified their holdings of WEX. Rise Advisors LLC acquired a new position in WEX during the first quarter valued at $29,000. International Assets Investment Management LLC acquired a new position in WEX during the second quarter valued at $33,000. Quarry LP raised its position in WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider's stock valued at $33,000 after buying an additional 165 shares during the period. Blue Trust Inc. raised its position in WEX by 456.1% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider's stock valued at $40,000 after buying an additional 187 shares during the period. Finally, Covestor Ltd raised its position in WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider's stock valued at $44,000 after buying an additional 131 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.
About WEX
(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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