Investment Analysts’ Recent Ratings Changes for WEX (WEX)

A number of research firms have changed their ratings and price targets for WEX (NYSE: WEX):

• 4/17/2024 – WEX had its price target raised by analysts at Citigroup Inc. from $240.00 to $280.00. They now have a “buy” rating on the stock.
• 4/16/2024 – WEX had its price target raised by analysts at Barclays PLC from $255.00 to $280.00. They now have an “overweight” rating on the stock.
• 4/15/2024 – WEX had its price target raised by analysts at Robert W. Baird from $272.00 to $285.00. They now have an “outperform” rating on the stock.
• 4/12/2024 – WEX had its price target raised by analysts at Jefferies Financial Group Inc. from $235.00 to $240.00. They now have a “hold” rating on the stock.
• 3/26/2024 – WEX had its price target raised by analysts at Evercore ISI from $250.00 to $275.00. They now have an “outperform” rating on the stock.
• 3/26/2024 – WEX was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 3/18/2024 – WEX was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

WEX Price Performance

WEX stock opened at $230.48 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $9.62 billion, a P/E ratio of 37.42, a PEG ratio of 1.49 and a beta of 1.59. The business has a 50 day simple moving average of $229.66 and a 200-day simple moving average of $202.60. WEX Inc. has a twelve month low of $161.95 and a twelve month high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a return on equity of 31.33% and a net margin of 10.46%. The business had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. As a group, equities analysts anticipate that WEX Inc. will post 13.55 EPS for the current year.

Insider Transactions at WEX

In related news, insider Hilary A. Rapkin sold 5,800 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $222.55, for a total value of $1,290,790.00. Following the transaction, the insider now owns 10,569 shares in the company, valued at approximately $2,352,130.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WEX news, insider Hilary A. Rapkin sold 5,800 shares of WEX stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $222.55, for a total value of $1,290,790.00. Following the transaction, the insider now directly owns 10,569 shares in the company, valued at approximately $2,352,130.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the sale, the chief financial officer now owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,326 shares of company stock worth $6,281,961. Company insiders own 1.10% of the company’s stock.

Institutional Trading of WEX

Several hedge funds and other institutional investors have recently made changes to their positions in WEX. Morgan Stanley lifted its position in WEX by 342.4% in the fourth quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock valued at $337,102,000 after purchasing an additional 1,594,294 shares during the period. Norges Bank purchased a new position in shares of WEX during the 4th quarter worth approximately $89,745,000. Kodai Capital Management LP acquired a new stake in shares of WEX in the 4th quarter valued at approximately $49,750,000. Wellington Management Group LLP boosted its stake in shares of WEX by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after buying an additional 179,813 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in WEX by 40.6% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 598,641 shares of the business services provider’s stock worth $108,024,000 after acquiring an additional 172,805 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

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.