WEX (NYSE:WEX) PT Raised to $200.00

WEX (NYSE:WEX) had its price objective upped by Wells Fargo & Company from $190.00 to $200.00 in a report released on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 6.27% from the stock’s current price.

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

WEX Price Performance

WEX stock traded down $3.25 on Monday, reaching $213.37. The company had a trading volume of 59,699 shares, compared to its average volume of 339,660. The company’s fifty day moving average is $197.36 and its 200 day moving average is $195.37. The company has a market cap of $8.77 billion, a P/E ratio of 36.92, a PEG ratio of 1.22 and a beta of 1.55. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. WEX has a 1 year low of $161.95 and a 1 year high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.09. WEX had a return on equity of 31.05% and a net margin of 9.32%. The business had revenue of $673.50 million for the quarter, compared to analysts’ expectations of $677.44 million. On average, research analysts forecast that WEX will post 13.68 earnings per share 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other WEX news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was 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 in the company, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Melanie J. Tinto sold 1,564 shares of WEX stock in a transaction dated 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 transaction, the insider now owns 8,461 shares of the company’s stock, valued at $1,565,623.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,905 shares of company stock valued at $895,107 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of WEX. Wealth Enhancement Advisory Services LLC lifted its stake in shares of WEX by 96.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,596 shares of the business services provider’s stock valued at $1,804,000 after buying an additional 3,722 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in WEX by 44.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 51,422 shares of the business services provider’s stock worth $12,214,000 after buying an additional 15,884 shares during the period. State of Michigan Retirement System increased its holdings in WEX by 1.9% in the first quarter. State of Michigan Retirement System now owns 10,475 shares of the business services provider’s stock valued at $2,488,000 after buying an additional 200 shares during the last quarter. Norden Group LLC acquired a new stake in WEX during the first quarter worth approximately $279,000. Finally, Principal Financial Group Inc. grew its stake in WEX by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 161,266 shares of the business services provider’s stock worth $38,306,000 after buying an additional 3,532 shares during the last quarter. 97.47% of the stock is owned by hedge funds and other 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.