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

WEX (NYSE:WEX) had its price objective dropped by equities researchers at Keefe, Bruyette & Woods from $220.00 to $200.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 34.69% from the stock’s previous close.

A number of other research analysts also recently weighed in on WEX. Jefferies Financial Group upped their target price on WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Wells Fargo & Company reduced their target price on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday. Barclays reissued an “equal weight” rating and issued a $200.00 price objective (down from $207.00) on shares of WEX in a research note on Tuesday, December 17th. Bank of America downgraded shares of WEX from a “buy” rating to a “neutral” rating in a report on Thursday. Finally, Citigroup downgraded WEX from a “buy” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, WEX currently has a consensus rating of “Hold” and a consensus target price of $210.58.

WEX Price Performance

Shares of NYSE WEX traded down $3.45 during mid-day trading on Friday, reaching $148.48. 452,314 shares of the company were exchanged, compared to its average volume of 443,551. WEX has a 52 week low of $148.66 and a 52 week high of $244.04. The stock has a market capitalization of $5.91 billion, a PE ratio of 18.78, a PEG ratio of 1.50 and a beta of 1.58. The company’s 50 day moving average price is $178.33 and its 200 day moving average price is $185.99. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a return on equity of 31.35% and a net margin of 12.45%. Sell-side analysts forecast that WEX will post 13.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Robert Joseph Deshaies sold 175 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the sale, the chief operating officer now owns 7,582 shares in the company, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Institutional Trading of WEX

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