WEX (NYSE:WEX) Given New $190.00 Price Target at Jefferies Financial Group

WEX (NYSE:WEX) had its target price increased by equities research analysts at Jefferies Financial Group from $180.00 to $190.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the business services provider’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 4.78% from the stock’s current price.

Several other equities analysts also recently issued reports on WEX. Bank of America upped their price objective on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Barclays reaffirmed an “equal weight” rating and set a $200.00 price target (down from $207.00) on shares of WEX in a report on Tuesday, December 17th. Citigroup cut 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 report on Tuesday, January 14th. Keefe, Bruyette & Woods reduced their price target on shares of WEX from $247.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, Robert W. Baird lowered their target price on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $217.73.

WEX Stock Performance

WEX stock traded down $2.11 during mid-day trading on Wednesday, reaching $181.34. The company had a trading volume of 17,103 shares, compared to its average volume of 356,087. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 1.33 and a beta of 1.58. The company has a 50 day moving average of $178.86 and a 200-day moving average of $186.23. WEX has a 52 week low of $165.51 and a 52 week high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm had revenue of $665.50 million during the quarter, compared to analyst estimates of $688.03 million. During the same quarter in the prior year, the business posted $3.44 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts expect that WEX will post 13.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Robert Joseph Deshaies sold 175 shares of the firm’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 completion of the transaction, the chief operating officer now owns 7,582 shares of the company’s stock, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional Trading of WEX

A number of large investors have recently added to or reduced their stakes in the company. KBC Group NV increased its holdings in WEX by 53.7% in the 4th quarter. KBC Group NV now owns 1,825 shares of the business services provider’s stock valued at $320,000 after buying an additional 638 shares during the period. Union Bancaire Privee UBP SA acquired a new position in WEX in the fourth quarter valued at approximately $702,000. Blue Trust Inc. lifted its stake in WEX by 231.1% in the fourth quarter. Blue Trust Inc. now owns 1,384 shares of the business services provider’s stock valued at $243,000 after buying an additional 966 shares during the period. Fifth Third Bancorp raised its position in shares of WEX by 1,635.8% during the fourth quarter. Fifth Third Bancorp now owns 8,783 shares of the business services provider’s stock worth $1,540,000 after purchasing an additional 8,277 shares during the period. Finally, Benin Management CORP grew its stake in WEX by 38.2% in the 4th quarter. Benin Management CORP now owns 3,041 shares of the business services provider’s stock valued at $533,000 after purchasing an additional 840 shares during the period. Institutional investors and hedge funds 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.