WEX (NYSE:WEX) Price Target Lowered to $170.00 at Mizuho

WEX (NYSE:WEX) had its price target lowered by Mizuho from $215.00 to $170.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

A number of other research analysts also recently weighed in on WEX. Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods reduced their price target on WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday. Robert W. Baird decreased their price target on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. UBS Group cut their price objective on WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, William Blair reaffirmed a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, WEX currently has a consensus rating of “Hold” and a consensus target price of $199.73.

WEX Trading Up 1.4 %

NYSE:WEX opened at $154.20 on Monday. The stock has a market cap of $6.13 billion, a PE ratio of 20.56, a price-to-earnings-growth 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. 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 stock’s 50-day moving average is $176.89 and its two-hundred day moving average is $185.69.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. As a group, equities research analysts forecast that WEX will post 14.27 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On WEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WEX. Venturi Wealth Management LLC raised its holdings in WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after purchasing an additional 101 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of WEX during the third quarter worth approximately $35,000. Jones Financial Companies Lllp lifted its holdings in WEX by 108.4% in the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after buying an additional 129 shares during the period. UMB Bank n.a. boosted its stake in WEX by 552.5% in the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 221 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after acquiring an additional 66 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

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.