WEX (NYSE:WEX) opened at 119.28 on Monday. WEX has a 12 month low of $58.74 and a 12 month high of $119.85. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 62.22 and a beta of 1.90. The firm has a 50-day moving average price of $114.67 and a 200 day moving average price of $106.62.
WEX Inc. (NYSE:WEX) announced its quarterly earnings data on Monday. The company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.02. The business earned $290.80 million during the quarter, compared to analyst estimates of $280.10 million. WEX had a return on equity of 13.70% and a net margin of 8.11%. The company’s revenue was up 36.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.15 earnings per share. WEX updated its Q1 guidance to $1.16-1.24 EPS and its FY17 guidance to $5.10-5.50 EPS.
Several equities research analysts have recently commented on WEX shares. Credit Suisse Group downgraded WEX from an “outperform” rating to a “neutral” rating and upped their target price for the company from $108.00 to $113.00 in a report on Monday, October 31st. They noted that the move was a valuation call. Citigroup Inc. reaffirmed a “neutral” rating on shares of WEX in a report on Wednesday, December 21st. Zacks Investment Research raised WEX from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a report on Thursday, December 8th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $120.00 target price (up from $101.00) on shares of WEX in a report on Tuesday, November 1st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $127.00 target price on shares of WEX in a report on Sunday, October 23rd. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $103.14.
In other WEX news, Director Michael E. Dubyak sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $99.52, for a total value of $547,360.00. Following the completion of the transaction, the director now directly owns 55,416 shares of the company’s stock, valued at approximately $5,515,000.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Brown Advisory Inc. increased its position in shares of WEX by 68.9% in the fourth quarter. Brown Advisory Inc. now owns 160,486 shares of the company’s stock valued at $17,910,000 after buying an additional 65,491 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of WEX by 4.9% in the fourth quarter. Baird Financial Group Inc. now owns 2,123 shares of the company’s stock valued at $237,000 after buying an additional 100 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of WEX by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 317,777 shares of the company’s stock valued at $35,465,000 after buying an additional 10,920 shares during the last quarter. State Street Corp increased its position in shares of WEX by 0.5% in the fourth quarter. State Street Corp now owns 1,001,693 shares of the company’s stock valued at $111,786,000 after buying an additional 5,197 shares during the last quarter. Finally, Clark Capital Management Group Inc. bought a new stake in WEX during the fourth quarter worth about $201,000. 95.09% of the stock is owned by hedge funds and other institutional investors.
WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.