WEX (NYSE:WEX) PT Raised to $200.00

WEX (NYSE:WEX) had its price target hoisted by investment analysts at Wells Fargo & Company from $190.00 to $200.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price points to a potential downside of 5.36% from the stock’s current price.

Other analysts have also issued research reports about the stock. Jefferies Financial Group raised their price target on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods decreased their price objective on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Bank of America increased their price objective on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. William Blair raised shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $239.17.

WEX Stock Down 0.8 %

NYSE:WEX opened at $211.33 on Monday. The firm has a market capitalization of $8.68 billion, a P/E ratio of 36.56, a PEG ratio of 1.22 and a beta of 1.55. WEX has a 1-year low of $161.95 and a 1-year high of $244.04. The company’s fifty day moving average price is $198.85 and its 200-day moving average price is $194.99. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.09. The firm had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. As a group, equities research analysts anticipate that WEX will post 13.68 EPS for the current year.

Insider Buying and Selling at WEX

In other news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other WEX news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the transaction, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Melanie J. Tinto sold 1,564 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the completion of the sale, the insider now directly owns 8,461 shares in the company, valued at $1,565,623.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,905 shares of company stock valued at $895,107. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WEX. Hennion & Walsh Asset Management Inc. increased its stake in shares of WEX by 14.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 2,837 shares of the business services provider’s stock worth $595,000 after buying an additional 348 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in WEX by 20,873.0% in the third quarter. International Assets Investment Management LLC now owns 38,800 shares of the business services provider’s stock worth $8,138,000 after purchasing an additional 38,615 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in WEX by 124.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 40,870 shares of the business services provider’s stock worth $8,572,000 after purchasing an additional 22,638 shares during the period. Blue Trust Inc. boosted its holdings in WEX by 83.3% in the third quarter. Blue Trust Inc. now owns 418 shares of the business services provider’s stock worth $88,000 after purchasing an additional 190 shares during the period. Finally, Net Worth Advisory Group acquired a new position in WEX in the third quarter worth $283,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

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.