In yesterday’s Wall Street session, WEX Inc. (NYSE:WEX) shares traded at $180.45, up 1.90% from the previous session.
17 analysts cover WEX Inc. (NYSE:WEX), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $209.00 and a low of $151.00, we find $190.00. Given the previous closing price of $177.08, this indicates a potential upside of 7.3 percent. WEX stock price is now 9.62% away from the 50-day moving average and 13.13% away from the 200-day moving average. The market capitalization of the company currently stands at $7.77B.
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The stock has received a hold rating from 8 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $184.57 as their price target over the next twelve months.
On April 05, 2022, Wells Fargo recently initiated its ‘Overweight’ rating on the stock quoting a target price of $205, while ‘BofA Securities’ rates the stock as ‘Buy’.
In other news, Rapkin Hilary A, Chief Legal Officer sold 5,270 shares of the company’s stock on Jan 11. The stock was sold for $922,250 at an average price of $175.00. Upon completion of the transaction, the Chief Legal Officer now directly owns 12,203 shares in the company, valued at $2.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 03, Director GROCH JAMES R bought 1,400 shares of the business’s stock. A total of $211,750 was incurred on buying the stock at an average price of $151.25. This leaves the insider owning 8,465 shares of the company worth $1.53 million. Insiders disposed of 45,024 shares of company stock worth roughly $8.12 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in WEX stock. A new stake in WEX Inc. shares was purchased by RIVER ROAD ASSET MANAGEMENT, LLC during the first quarter worth $35,893,000. INVENOMIC CAPITAL MANAGEMENT LP invested $19,576,000 in shares of WEX during the first quarter. In the first quarter, HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC acquired a new stake in WEX Inc. valued at approximately $15,872,000. TWINBEECH CAPITAL LP acquired a new stake in WEX for approximately $13,203,000. HAWK RIDGE CAPITAL MANAGEMENT LP purchased a new stake in WEX valued at around $7,453,000 in the second quarter.
On Monday morning WEX Inc. (NYSE: WEX) stock kicked off with the opening price of $176.78. During the past 12 months, WEX Inc. has had a low of $125.00 and a high of $183.38. The fifty day moving average price for WEX is $165.05 and a two-hundred day moving average price translates $159.53 for the stock.
The latest earnings results from WEX Inc. (NYSE: WEX) was released for Sep, 2022. According to the Software – Infrastructure Company, earnings per share came in at $3.51, beating analysts’ expectations of $3.42 by 0.09. This compares to $1.15 EPS in the same period last year. The net profit margin was 4.50% and return on equity was 5.60% for WEX. The company reported revenue of $616.13 million for the quarter, compared to $482.76 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 27.63 percent. For the current quarter, analysts expect WEX to generate $570.86M in revenue.
WEX Inc.(WEX) Company Profile
WEX Inc. provides financial technology services in the United States and internationally. 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. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements. This segment markets its products directly and indirectly to commercial and government vehicle fleet customers with small, medium, and large fleets, as well as with over-the-road and long haul fleets; and indirectly through co-branded and private label relationships. The Travel and Corporate Solutions segment provides payment solutions, including embedded payments; and accounts payable automation and spend management solutions. Its products include virtual cards that are used for transactions where no card is presented. This segment markets its products directly and indirectly to commercial and government organizations. The Health and Employee Benefit Solutions segment offers healthcare payment products and software-as-a-service consumer directed platforms for healthcare market, as well as payroll related and employee benefit products in Brazil. This segment markets its products through health plans, third-party administrators, financial institutions, payroll companies benefits consultants, software providers, and individuals. The company was formerly known as Wright Express Corporation and changed its name to WEX Inc. in October 2012. WEX Inc. was founded in 1983 and is based in Portland, Maine.
