WEX Inc. (NYSE:WEX) Receives $180.25 Average Price Target from Brokerages

Shares of WEX Inc. (NYSE:WEX) have earned an average recommendation of “Hold” from the fifteen brokerages that are covering the company, MarketBeat.com reports. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $181.50.

Several brokerages have recently issued reports on WEX. Jefferies Financial Group raised their price objective on shares of WEX from $130.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, May 27th. Wells Fargo & Company reduced their price target on shares of WEX from $160.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Barclays boosted their price objective on shares of WEX from $135.00 to $170.00 and gave the stock an “equal weight” rating in a report on Monday, July 28th. William Blair reiterated a “market perform” rating on shares of WEX in a research note on Friday, July 25th. Finally, Robert W. Baird lifted their target price on WEX from $186.00 to $198.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th.

Insider Buying and Selling

In other WEX news, CAO Jennifer Kimball sold 1,400 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $131.08, for a total value of $183,512.00. Following the sale, the chief accounting officer directly owned 3,177 shares in the company, valued at $416,441.16. This represents a 30.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Melissa D. Smith acquired 3,721 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were bought at an average price of $134.57 per share, with a total value of $500,734.97. Following the completion of the purchase, the chief executive officer directly owned 101,182 shares of the company’s stock, valued at approximately $13,616,061.74. This represents a 3.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WEX

Several large investors have recently made changes to their positions in the company. Investment Management Corp VA ADV bought a new position in WEX in the 4th quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of WEX by 282.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 214 shares of the business services provider’s stock valued at $31,000 after buying an additional 158 shares in the last quarter. State of Wyoming acquired a new stake in shares of WEX in the fourth quarter valued at $35,000. Farther Finance Advisors LLC raised its holdings in shares of WEX by 161.5% in the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider’s stock valued at $44,000 after buying an additional 168 shares during the last quarter. Finally, Quarry LP acquired a new position in WEX during the 1st quarter worth about $44,000. Institutional investors own 97.47% of the company’s stock.

WEX Stock Performance

WEX opened at $166.56 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 3.99. The stock’s 50 day moving average price is $148.88 and its two-hundred day moving average price is $148.52. The firm has a market capitalization of $5.71 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28. WEX has a 12-month low of $110.45 and a 12-month high of $217.47.

WEX Company Profile

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.