Brokerages Set WEX Inc (WEX) Target Price at $194.67

WEX Inc (NYSE:WEX) has received a consensus recommendation of “Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $194.67.

A number of research analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of WEX in a report on Monday, January 28th. They set a “hold” rating and a $170.00 price objective for the company. Wells Fargo & Co reiterated an “outperform” rating and issued a $180.00 price target (down previously from $200.00) on shares of WEX in a report on Wednesday, January 16th. William Blair reiterated an “outperform” rating on shares of WEX in a report on Wednesday, January 30th. ValuEngine upgraded shares of WEX from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Finally, Zacks Investment Research upgraded shares of WEX from a “sell” rating to a “hold” rating in a report on Saturday, January 12th.

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In related news, insider David G. Cooper sold 607 shares of the stock in a transaction on Monday, December 17th. The shares were sold at an average price of $145.15, for a total transaction of $88,106.05. Following the completion of the transaction, the insider now owns 1,065 shares in the company, valued at $154,584.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.57% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its position in WEX by 281.7% during the third quarter. Renaissance Technologies LLC now owns 66,800 shares of the business services provider’s stock worth $13,411,000 after acquiring an additional 49,300 shares in the last quarter. State Treasurer State of Michigan grew its stake in shares of WEX by 15.3% in the third quarter. State Treasurer State of Michigan now owns 27,100 shares of the business services provider’s stock valued at $5,441,000 after acquiring an additional 3,600 shares in the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in shares of WEX in the fourth quarter valued at about $32,000. Advisors Capital Management LLC acquired a new position in shares of WEX in the fourth quarter valued at about $363,000. Finally, Morgan Stanley grew its stake in shares of WEX by 41.1% in the third quarter. Morgan Stanley now owns 68,827 shares of the business services provider’s stock valued at $13,818,000 after acquiring an additional 20,040 shares in the last quarter. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

Shares of WEX traded up $2.50 on Friday, reaching $180.56. 404,977 shares of the company’s stock were exchanged, compared to its average volume of 398,486. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 38.42, a price-to-earnings-growth ratio of 1.43 and a beta of 1.55. WEX has a 12 month low of $131.35 and a 12 month high of $203.49.

About WEX

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 and processing services.

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