Keefe, Bruyette & Woods Cuts WEX (NYSE:WEX) Price Target to $200.00

WEX (NYSE:WEX - Free Report) had its price objective reduced by Keefe, Bruyette & Woods from $220.00 to $200.00 in a research report report published on Friday,Benzinga reports. They currently have an outperform rating on the business services provider's stock.

WEX has been the topic of several other research reports. Citigroup cut shares of WEX from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $260.00 to $190.00 in a research note on Tuesday, January 14th. Bank of America cut shares of WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Wells Fargo & Company lowered their target price on shares of WEX from $180.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Friday. Barclays restated an "equal weight" rating and set a $200.00 target price (down previously from $207.00) on shares of WEX in a research note on Tuesday, December 17th. Finally, Robert W. Baird lowered their target price on shares of WEX from $285.00 to $230.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, WEX has an average rating of "Hold" and an average price target of $199.73.

WEX Stock Performance

NYSE:WEX traded up $1.17 during trading hours on Friday, reaching $155.47. The company had a trading volume of 693,102 shares, compared to its average volume of 504,156. The firm's 50 day moving average price is $176.89 and its 200-day moving average price is $185.69. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.24 and a beta of 1.58. WEX has a 52 week low of $146.03 and a 52 week high of $244.04. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. On average, analysts forecast that WEX will post 14.27 EPS for the current year.

Insider Buying and Selling at WEX

In other news, COO Robert Joseph Deshaies sold 175 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the sale, the chief operating officer now directly owns 7,582 shares in the company, valued at $1,436,334.08. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Institutional Trading of WEX

A number of large investors have recently made changes to their positions in WEX. Venturi Wealth Management LLC increased its holdings in shares of 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 buying an additional 101 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in WEX during the 3rd quarter valued at about $35,000. Jones Financial Companies Lllp grew its holdings in WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock valued at $43,000 after purchasing an additional 129 shares during the last quarter. UMB Bank n.a. grew its holdings in WEX by 552.5% during the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock valued at $46,000 after purchasing an additional 221 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock valued at $56,000 after purchasing an additional 66 shares during the last quarter. 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.