Wall Street Zen upgraded shares of WEX (NYSE:WEX – Free Report) from a hold rating to a buy rating in a research note released on Sunday morning,Wall Street Zen reports.
Other equities research analysts also recently issued research reports about the company. Mizuho lifted their target price on WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Piper Sandler began coverage on WEX in a report on Thursday, September 10th. They set a “neutral” rating and a $209.00 price target for the company. Morgan Stanley increased their price target on WEX from $172.00 to $178.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 27th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of WEX in a research report on Thursday, September 24th. Finally, Weiss Ratings upgraded shares of WEX from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, WEX currently has an average rating of “Moderate Buy” and an average target price of $191.10.
Get Our Latest Analysis on WEX
WEX Stock Up 0.2%
Shares of NYSE WEX opened at $182.58 on Friday. The company has a market capitalization of $6.00 billion, a P/E ratio of 15.71, a P/E/G ratio of 0.72 and a beta of 0.93. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50 day simple moving average of $184.33 and a 200-day simple moving average of $165.15. WEX has a 1 year low of $125.29 and a 1 year high of $203.99.
WEX (NYSE:WEX – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The business services provider reported $6.13 EPS for the quarter, beating analysts’ consensus estimates of $5.68 by $0.45. WEX had a return on equity of 45.74% and a net margin of 14.05%. The firm had revenue of $780.10 million for the quarter, compared to analysts’ expectations of $749.74 million. During the same period in the prior year, the firm posted $4.59 earnings per share. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. On average, equities research analysts predict that WEX will post 18.19 earnings per share for the current year.
Insider Activity at WEX
In other WEX news, COO Robert Deshaies sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $173.56, for a total transaction of $347,120.00. Following the transaction, the chief operating officer owned 17,288 shares of the company’s stock, valued at approximately $3,000,505.28. This trade represents a 10.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Sachin Dhawan sold 3,873 shares of WEX stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $183.05, for a total value of $708,952.65. Following the sale, the chief technology officer owned 11,286 shares in the company, valued at $2,065,902.30. This trade represents a 25.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,325 shares of company stock valued at $7,067,912 in the last ninety days. 1.40% of the stock is currently owned by insiders.
Institutional Trading of WEX
A number of large investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in WEX by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 3,916,073 shares of the business services provider’s stock valued at $599,313,000 after acquiring an additional 44,031 shares during the period. Jupiter Topco LLC acquired a new stake in WEX during the 2nd quarter worth approximately $559,710,000. BlackRock Inc. acquired a new stake in WEX during the 2nd quarter worth approximately $446,833,000. Bank of America Corp DE lifted its position in WEX by 13.6% during the 1st quarter. Bank of America Corp DE now owns 823,681 shares of the business services provider’s stock worth $126,056,000 after acquiring an additional 98,524 shares during the period. Finally, Turtle Creek Asset Management Inc. grew its stake in shares of WEX by 58.5% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 669,335 shares of the business services provider’s stock valued at $102,435,000 after purchasing an additional 246,923 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.
WEX Company Profile
WEX Inc is a financial technology company that provides payment processing and business management solutions. Founded in 1983 as Wright Express, the company adopted the WEX name in 2012 and is headquartered in Portland, Maine.
WEX’s fleet business offers payment cards and related services for commercial and government fleets, including tools to manage fuel purchases, vehicle expenses and fleet operations. Its travel and corporate payments business provides solutions such as virtual cards and payment services for travel companies and other businesses.
WEX also provides employee benefits administration, including platforms and services for health savings accounts, flexible spending accounts, commuter benefits and COBRA administration.
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