WEX (NYSE:WEX) PT Raised to $210.00

WEX (NYSE:WEX) had its price target boosted by Jefferies Financial Group from $190.00 to $210.00 in a research note released on Wednesday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the business services provider’s stock.

Other research analysts also recently issued reports about the company. William Blair upgraded WEX to a “strong-buy” rating in a report on Friday, July 26th. Wells Fargo & Company cut their price objective on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. JPMorgan Chase & Co. decreased their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Keefe, Bruyette & Woods cut their price target on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Finally, Bank of America raised their price objective on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Six 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $238.33.

WEX Stock Performance

Shares of WEX stock opened at $216.62 on Wednesday. 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 52 week low of $161.95 and a 52 week high of $244.04. The company’s 50 day moving average price is $197.36 and its two-hundred day moving average price is $195.69. The company has a market capitalization of $9.08 billion, a P/E ratio of 35.22, a price-to-earnings-growth ratio of 1.28 and a beta of 1.55.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.09. The business had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. On average, analysts expect that WEX will post 13.75 earnings per share for the current fiscal year.

Insider Transactions at WEX

In other WEX news, insider Ann Elena Drew sold 1,182 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $172.73, for a total transaction of $204,166.86. Following the completion of the sale, the insider now owns 5,584 shares of the company’s stock, valued at $964,524.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Melanie J. Tinto sold 1,564 shares of WEX stock in a transaction that occurred on 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 sale, the insider now directly owns 8,461 shares of the company’s stock, valued at approximately $1,565,623.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ann Elena Drew sold 1,182 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the transaction, the insider now directly owns 5,584 shares in the company, valued at approximately $964,524.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,905 shares of company stock worth $895,107. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On WEX

A number of hedge funds and other institutional investors have recently modified their holdings of WEX. Fisher Asset Management LLC increased its position in WEX by 3.8% during the fourth quarter. Fisher Asset Management LLC now owns 17,178 shares of the business services provider’s stock worth $3,342,000 after acquiring an additional 633 shares during the period. Vanguard Group Inc. raised its position in shares of WEX by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock valued at $816,919,000 after buying an additional 67,893 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of WEX in the first quarter valued at approximately $29,000. CHICAGO TRUST Co NA bought a new stake in shares of WEX in the first quarter valued at approximately $215,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in 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 worth $1,804,000 after acquiring an additional 3,722 shares during the period. Institutional investors and hedge funds 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.