William Blair reissued their market perform rating on shares of WEX (NYSE:WEX – Free Report) in a research report report published on Thursday morning, Marketbeat Ratings reports.
Other equities analysts have also issued research reports about the stock. Jefferies Financial Group lifted their target price on shares of WEX from $180.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Wolfe Research cut shares of WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Robert W. Baird reduced 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. Barclays restated an “equal weight” rating and set a $200.00 price objective (down from $207.00) on shares of WEX in a report on Tuesday, December 17th. Finally, Citigroup cut WEX from a “buy” rating to a “neutral” rating and reduced their target price for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, WEX currently has an average rating of “Hold” and an average price target of $217.73.
WEX Stock Down 18.8 %
WEX (NYSE:WEX – Get Free Report) last issued its earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) 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%. Analysts forecast that WEX will post 13.08 earnings per share for the current year.
Insider Transactions at WEX
In other news, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction that occurred on 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 directly owns 7,582 shares in the company, valued at approximately $1,436,334.08. This represents a 2.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its holdings in shares of WEX by 0.6% during the third quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock valued at $873,251,000 after acquiring an additional 25,365 shares during the period. FMR LLC lifted its position in WEX by 8.8% in the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock valued at $326,237,000 after purchasing an additional 125,262 shares during the last quarter. State Street Corp grew its position in WEX by 0.3% in the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock worth $260,265,000 after purchasing an additional 3,882 shares during the last quarter. River Road Asset Management LLC increased its stake in shares of WEX by 5.0% in the third quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock valued at $151,103,000 after purchasing an additional 34,264 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of WEX by 8.8% in the fourth quarter. Bank of New York Mellon Corp now owns 374,359 shares of the business services provider’s stock valued at $65,633,000 after purchasing an additional 30,395 shares during the period. 97.47% of the stock is currently owned by 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.
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