WEX (NYSE:WEX) Price Target Lowered to $220.00 at Keefe, Bruyette & Woods

WEX (NYSE:WEX) had its price objective decreased by Keefe, Bruyette & Woods from $247.00 to $220.00 in a research report released on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the business services provider’s stock.

WEX has been the subject of several other research reports. Barclays reissued an “equal weight” rating and issued a $200.00 price objective (down previously from $207.00) on shares of WEX in a report on Tuesday, December 17th. Wells Fargo & Company reduced their target price on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Bank of America increased their price target on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Wolfe Research lowered shares of WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Finally, Jefferies Financial Group raised their price target on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, WEX has a consensus rating of “Moderate Buy” and an average target price of $227.73.

WEX Stock Down 1.3 %

WEX opened at $174.98 on Monday. WEX has a twelve month low of $165.51 and a twelve month high of $244.04. The company’s 50-day moving average price is $178.77 and its two-hundred day moving average price is $186.04. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 1.39 and a beta of 1.58. 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 posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The business had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. During the same quarter in the prior year, the business earned $3.44 earnings per share. WEX’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts expect that WEX will post 13.1 earnings per share for the current year.

Insider Buying and Selling 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 completion of the sale, the chief operating officer now owns 7,582 shares of the company’s stock, valued at approximately $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commerce Bank increased its position in shares of WEX by 1.7% in the third quarter. Commerce Bank now owns 3,624 shares of the business services provider’s stock valued at $760,000 after acquiring an additional 60 shares during the period. American Century Companies Inc. increased its holdings in WEX by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock valued at $1,847,000 after purchasing an additional 68 shares during the period. Ballentine Partners LLC raised its position in WEX by 3.3% during the 2nd quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider’s stock valued at $396,000 after purchasing an additional 72 shares during the last quarter. GAMMA Investing LLC lifted its holdings in WEX by 40.7% in the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after buying an additional 87 shares during the period. Finally, Covestor Ltd grew its position in shares of WEX by 47.3% in the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after buying an additional 89 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors.

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.