WEX (NYSE:WEX – Get Rating) had its target price upped by Truist Financial from $170.00 to $190.00 in a report issued on Friday, The Fly reports. Truist Financial currently has a hold rating on the business services provider's stock.
A number of other equities analysts also recently commented on WEX. Barclays boosted their price objective on WEX from $211.00 to $213.00 and gave the stock an overweight rating in a research report on Monday, October 31st. Wells Fargo & Company boosted their price objective on WEX from $185.00 to $193.00 and gave the stock an overweight rating in a research report on Monday, January 9th. Mizuho lowered their price objective on WEX from $220.00 to $200.00 and set a buy rating for the company in a research report on Monday, November 14th. StockNews.com assumed coverage on WEX in a research report on Wednesday, October 12th. They set a hold rating for the company. Finally, Keefe, Bruyette & Woods lowered their price objective on WEX from $226.00 to $185.00 in a research report on Monday, October 10th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $192.42.
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WEX Trading Up 1.9 %
Shares of WEX opened at $180.45 on Friday. WEX has a 52-week low of $125.00 and a 52-week high of $183.38. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.62. The firm's fifty day moving average is $165.45 and its two-hundred day moving average is $158.20. The stock has a market cap of $7.87 billion, a PE ratio of 81.65, a price-to-earnings-growth ratio of 0.74 and a beta of 1.59.
WEX (NYSE:WEX – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The business services provider reported $3.01 EPS for the quarter, missing the consensus estimate of $3.12 by ($0.11). The company had revenue of $616.13 million for the quarter, compared to analysts' expectations of $590.54 million. WEX had a return on equity of 27.73% and a net
margin of 4.53%. Research analysts forecast that WEX will post 11.61 earnings per share for the current fiscal year.
Insider Buying and Selling at WEX
In other WEX news, COO Robert Joseph Deshaies sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $163.32, for a total value of $163,320.00. Following the completion of the sale, the chief operating officer now owns 8,537 shares in the company, valued at $1,394,262.84. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Hilary A. Rapkin sold 6,156 shares of the company's stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $165.19, for a total transaction of $1,016,909.64. Following the completion of the sale, the insider now owns 12,328 shares in the company, valued at $2,036,462.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert Joseph Deshaies sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $163.32, for a total value of $163,320.00. Following the sale, the chief operating officer now owns 8,537 shares of the company's stock, valued at approximately $1,394,262.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,426 shares of company stock worth $2,102,480. 1.00% of the stock is owned by insiders.
Institutional Investors Weigh In On WEX
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of WEX by 3.2% during the first quarter. Vanguard Group Inc. now owns 4,196,239 shares of the business services provider's stock worth $748,819,000 after purchasing an additional 131,664 shares during the last quarter. BlackRock Inc. raised its position in WEX by 1.2% in the first quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider's stock worth $732,950,000 after acquiring an additional 49,480 shares in the last quarter. Wellington Management Group LLP raised its position in WEX by 4.2% in the first quarter. Wellington Management Group LLP now owns 4,101,566 shares of the business services provider's stock worth $731,925,000 after acquiring an additional 164,902 shares in the last quarter. Impactive Capital LP raised its position in WEX by 1.3% in the third quarter. Impactive Capital LP now owns 2,156,986 shares of the business services provider's stock worth $273,808,000 after acquiring an additional 28,189 shares in the last quarter. Finally, Par Capital Management Inc. raised its position in WEX by 2.4% in the third quarter. Par Capital Management Inc. now owns 1,850,000 shares of the business services provider's stock worth $234,839,000 after acquiring an additional 42,700 shares in the last quarter. Hedge funds and other institutional investors own 98.65% of the company's stock.
About WEX
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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.
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