WEX (NYSE:WEX) Price Target Lowered to $155.00 at Barclays

WEX (NYSE:WEX) had its price objective decreased by Barclays from $200.00 to $155.00 in a report published on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the business services provider’s stock.

A number of other research analysts have also commented on the company. Wolfe Research lowered WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Citigroup cut shares of WEX from a “buy” rating to a “neutral” rating and reduced their target price for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. William Blair reaffirmed a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. UBS Group cut their price objective on shares of WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a report on Friday. Finally, Robert W. Baird lowered their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, WEX currently has a consensus rating of “Hold” and an average price target of $199.73.

WEX Price Performance

Shares of WEX opened at $154.20 on Monday. The company’s 50-day moving average is $176.89 and its 200-day moving average is $185.69. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. The firm has a market capitalization of $6.13 billion, a PE ratio of 20.56, a PEG ratio of 1.24 and a beta of 1.58. WEX has a fifty-two week low of $146.03 and a fifty-two week high of $244.04.

WEX (NYSE:WEX) last issued 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 net margin of 11.78% and a return on equity of 32.35%. Equities analysts forecast that WEX will post 14.27 EPS for the current year.

Insider Buying and Selling at WEX

In related news, COO Robert Joseph Deshaies sold 175 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the sale, the chief operating officer now owns 7,582 shares of the company’s stock, valued at $1,436,334.08. The trade was a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WEX

Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its position in WEX by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock valued at $873,251,000 after purchasing an additional 25,365 shares during the period. FMR LLC increased its position in shares of WEX by 8.8% during the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock worth $326,237,000 after buying an additional 125,262 shares during the period. State Street Corp raised its stake in WEX by 0.3% during the third quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock worth $260,265,000 after buying an additional 3,882 shares during the last quarter. River Road Asset Management LLC raised its stake in WEX by 0.7% during the fourth quarter. River Road Asset Management LLC now owns 725,842 shares of the business services provider’s stock worth $127,255,000 after buying an additional 5,377 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in WEX by 8.8% in the fourth quarter. Bank of New York Mellon Corp now owns 374,359 shares of the business services provider’s stock valued at $65,633,000 after buying an additional 30,395 shares during the period. 97.47% of the stock is currently owned by institutional investors.

WEX Company Profile

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.