Wolfe Research Downgrades WEX (NYSE:WEX) to Peer Perform

Wolfe Research downgraded shares of WEX (NYSE:WEX - Free Report) from an outperform rating to a peer perform rating in a research report report published on Monday, MarketBeat Ratings reports.

A number of other brokerages also recently commented on WEX. Wells Fargo & Company dropped their price objective on shares of WEX from $200.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Friday. JPMorgan Chase & Co. cut their price target on WEX from $210.00 to $200.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 20th. Robert W. Baird lowered their price objective on WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a research report on Friday. Jefferies Financial Group boosted their target price on WEX from $190.00 to $210.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Finally, William Blair raised shares of WEX to a "strong-buy" rating in a report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $235.91.

WEX Stock Down 0.1 %

Shares of NYSE WEX traded down $0.13 during midday trading on Monday, hitting $178.72. The company's stock had a trading volume of 457,052 shares, compared to its average volume of 355,424. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 1.24 and a beta of 1.55. The business's fifty day simple moving average is $199.68 and its two-hundred day simple moving average is $193.95. WEX has a 1 year low of $161.95 and a 1 year high of $244.04.

WEX (NYSE:WEX - Get Free Report) last released its earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $3.82 by $0.53. The firm had revenue of $665.50 million during the quarter, compared to analysts' expectations of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. WEX's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.44 EPS. On average, equities analysts predict that WEX will post 13.65 EPS for the current year.

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 508 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Jagtar Narula sold 508 shares of the firm's stock in a transaction that occurred 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Melanie J. Tinto sold 1,564 shares of the firm's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total value of $289,402.56. Following the completion of the transaction, the insider now owns 8,461 shares of the company's stock, valued at approximately $1,565,623.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,905 shares of company stock worth $895,107. Company insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On WEX

A number of large investors have recently bought and sold shares of WEX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of WEX by 5.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider's stock valued at $173,561,000 after purchasing an additional 48,182 shares during the period. Bessemer Group Inc. raised its holdings in shares of WEX by 0.6% in the 1st quarter. Bessemer Group Inc. now owns 735,313 shares of the business services provider's stock worth $174,660,000 after purchasing an additional 4,262 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of WEX by 34.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider's stock valued at $87,772,000 after purchasing an additional 126,663 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of WEX by 3.0% during the 2nd quarter. Federated Hermes Inc. now owns 402,365 shares of the business services provider's stock worth $71,275,000 after purchasing an additional 11,821 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in WEX by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 378,969 shares of the business services provider's stock worth $67,131,000 after buying an additional 17,989 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.