Keefe, Bruyette & Woods Cuts WEX (NYSE:WEX) Price Target to $200.00

WEX (NYSE:WEX) had its price target cut by Keefe, Bruyette & Woods from $220.00 to $200.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

A number of other brokerages also recently commented on WEX. Wolfe Research downgraded WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Barclays restated an “equal weight” rating and set a $200.00 price target (down previously from $207.00) on shares of WEX in a research report on Tuesday, December 17th. Robert W. Baird cut their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Citigroup cut shares of WEX from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $260.00 to $190.00 in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company reduced their price objective on WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research report on Friday. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, WEX has an average rating of “Hold” and a consensus target price of $209.73.

WEX Trading Up 0.0 %

NYSE:WEX opened at $152.00 on Friday. The company has a market cap of $6.05 billion, a PE ratio of 20.27, a P/E/G ratio of 1.24 and a beta of 1.58. The business’s 50 day moving average is $177.60 and its two-hundred day moving average is $185.82. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. WEX has a 52 week low of $146.03 and a 52 week high of $244.04.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. On average, analysts predict that WEX will post 14.27 EPS for the current year.

Insider Activity

In related news, COO Robert Joseph Deshaies sold 175 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the sale, the chief operating officer now directly owns 7,582 shares in the company, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WEX

A number of institutional investors and hedge funds have recently modified their holdings of WEX. Northwestern Mutual Wealth Management Co. lifted its stake in WEX by 40.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the business services provider’s stock valued at $77,000 after buying an additional 124 shares in the last quarter. Truist Financial Corp raised its holdings in shares of WEX by 21.0% during the second quarter. Truist Financial Corp now owns 2,943 shares of the business services provider’s stock valued at $521,000 after acquiring an additional 510 shares during the period. Cetera Investment Advisers lifted its position in shares of WEX by 4.4% in the 2nd quarter. Cetera Investment Advisers now owns 13,874 shares of the business services provider’s stock valued at $2,458,000 after acquiring an additional 585 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in WEX in the 2nd quarter worth approximately $397,000. Finally, GAMMA Investing LLC grew its position in WEX by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

About WEX

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.