WEX (NYSE:WEX) Price Target Raised to $200.00

WEX (NYSE:WEX - Get Free Report) had its price objective lifted by analysts at Wells Fargo & Company from $190.00 to $200.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the business services provider's stock. Wells Fargo & Company's price target points to a potential downside of 6.06% from the company's previous close.

WEX has been the subject of several other research reports. Bank of America lifted their price target on shares of WEX from $238.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods decreased their price objective on WEX from $275.00 to $230.00 and set an "outperform" rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. lowered their price target on WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a research report on Tuesday, August 20th. Jefferies Financial Group increased their price objective on shares of WEX from $190.00 to $210.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Finally, William Blair upgraded WEX to a "strong-buy" rating in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $239.17.

WEX Stock Down 1.7 %

WEX traded down $3.72 during midday trading on Monday, hitting $212.90. The company had a trading volume of 386,923 shares, compared to its average volume of 341,272. The stock's 50 day moving average price is $197.36 and its 200 day moving average price is $195.37. WEX has a 52 week low of $161.95 and a 52 week high of $244.04. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 1.22 and a beta of 1.55. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66.

WEX (NYSE:WEX - Get Free Report) last issued its earnings results on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, beating analysts' consensus estimates of $3.20 by $0.09. The business had revenue of $673.50 million during the quarter, compared to analyst estimates of $677.44 million. WEX had a return on equity of 31.05% and a net margin of 9.32%. On average, research analysts anticipate that WEX will post 13.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other WEX news, CFO Jagtar Narula sold 508 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the transaction, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Jagtar Narula sold 508 shares of the firm's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the transaction, the chief financial officer now directly owns 7,120 shares of the company's stock, valued at $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert Joseph Deshaies sold 1,651 shares of the business's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the sale, the chief operating officer now owns 7,757 shares in the company, valued at approximately $1,409,214.19. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,905 shares of company stock valued at $895,107. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On WEX

A number of institutional investors and hedge funds have recently modified their holdings of WEX. International Assets Investment Management LLC purchased a new stake in WEX in the 2nd quarter worth approximately $33,000. Quarry LP increased its stake in WEX by 717.4% in the 2nd quarter. Quarry LP now owns 188 shares of the business services provider's stock worth $33,000 after acquiring an additional 165 shares during the last quarter. Blue Trust Inc. raised its stake in WEX by 456.1% in the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider's stock valued at $40,000 after purchasing an additional 187 shares in the last quarter. Covestor Ltd increased its holdings in shares of WEX by 233.9% in the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider's stock worth $44,000 after buying an additional 131 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of WEX during the 1st quarter valued at $60,000. 97.47% of the stock is owned by hedge funds and other 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.