WEX (NYSE:WEX) Price Target Cut to $160.00 by Analysts at Wells Fargo & Company

WEX (NYSE:WEX) had its price objective reduced by research analysts at Wells Fargo & Company from $180.00 to $160.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 5.25% from the stock’s previous close.

A number of other research firms have also commented on WEX. Robert W. Baird cut their price target on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, October 25th. William Blair reaffirmed a “market perform” rating on shares of WEX in a research report on Thursday. Bank of America cut shares of WEX from a “buy” rating to a “neutral” rating in a report on Thursday. Wolfe Research downgraded WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods dropped their price target on WEX from $247.00 to $220.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $215.91.

WEX Price Performance

WEX traded up $0.08 during trading on Friday, hitting $152.01. 105,041 shares of the stock traded hands, compared to its average volume of 429,820. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. WEX has a twelve month low of $148.66 and a twelve month high of $244.04. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 1.50 and a beta of 1.58. The business has a 50 day moving average price of $178.33 and a 200 day moving average price of $185.99.

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

Insider Activity at WEX

In related news, COO Robert Joseph Deshaies sold 175 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the completion of the sale, the chief operating officer now directly owns 7,582 shares in the company, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WEX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC boosted its stake in WEX by 206.1% in 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 period. Wilmington Savings Fund Society FSB acquired a new position in shares of WEX in the third quarter valued at about $35,000. Jones Financial Companies Lllp increased its stake 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 acquiring an additional 129 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of WEX by 552.5% during the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock worth $46,000 after buying an additional 221 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake 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 acquiring an additional 66 shares during the last quarter. 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.