ValuEngine upgraded shares of WEX (NYSE:WEX) from a sell rating to a hold rating in a report published on Thursday morning, ValuEngine reports.
Other analysts also recently issued reports about the stock. Citigroup lifted their price target on shares of WEX from $220.00 to $260.00 and gave the company a buy rating in a report on Wednesday, January 22nd. Morgan Stanley lifted their price target on shares of WEX from $204.00 to $222.00 and gave the company an equal weight rating in a report on Thursday, January 23rd. Cowen initiated coverage on shares of WEX in a report on Friday, January 31st. They issued a market perform rating and a $249.00 price target on the stock. Deutsche Bank lifted their price target on shares of WEX from $226.00 to $250.00 and gave the company a buy rating in a report on Monday, December 16th. Finally, Robert W. Baird reiterated a positive rating and issued a $260.00 price target (up from $245.00) on shares of WEX in a report on Monday, January 27th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $238.06.
Shares of WEX stock traded up $3.04 on Thursday, hitting $231.66. 480,965 shares of the stock traded hands, compared to its average volume of 380,703. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 153.42, a PEG ratio of 1.53 and a beta of 1.51. WEX has a 52 week low of $169.48 and a 52 week high of $234.95. The firm has a 50 day simple moving average of $218.46 and a two-hundred day simple moving average of $206.15. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.30 and a quick ratio of 1.30.
WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.56 by $0.05. The firm had revenue of $440.05 million for the quarter, compared to the consensus estimate of $455.69 million. WEX had a net margin of 3.95% and a return on equity of 18.86%. The company’s revenue was up 15.4% on a year-over-year basis. During the same period last year, the firm earned $2.02 EPS. Sell-side analysts forecast that WEX will post 8.39 EPS for the current year.
In other news, CEO Melissa D. Smith sold 13,736 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $214.99, for a total value of $2,953,102.64. Following the sale, the chief executive officer now directly owns 71,339 shares in the company, valued at approximately $15,337,171.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Roberto Simon sold 7,651 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $200.03, for a total transaction of $1,530,429.53. Following the completion of the sale, the chief financial officer now owns 16,902 shares in the company, valued at $3,380,907.06. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of WEX by 5.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,896 shares of the business services provider’s stock worth $585,000 after purchasing an additional 145 shares during the period. California State Teachers Retirement System boosted its position in WEX by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 69,273 shares of the business services provider’s stock valued at $13,998,000 after buying an additional 829 shares during the period. Bath Savings Trust Co boosted its position in WEX by 8.7% in the 4th quarter. Bath Savings Trust Co now owns 25,546 shares of the business services provider’s stock valued at $5,350,000 after buying an additional 2,050 shares during the period. Virginia Retirement Systems ET AL raised its holdings in shares of WEX by 37.7% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 8,400 shares of the business services provider’s stock valued at $1,697,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of WEX by 173.0% in the 3rd quarter. Squarepoint Ops LLC now owns 3,300 shares of the business services provider’s stock valued at $667,000 after purchasing an additional 2,091 shares in the last quarter. Hedge funds and other institutional investors own 98.26% of the company’s stock.
WEX Company Profile
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. 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.
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