Robert W. Baird Trims WEX (NYSE:WEX) Target Price to $230.00

WEX (NYSE:WEX - Get Free Report) had its price objective cut by Robert W. Baird from $285.00 to $230.00 in a report issued on Friday, Benzinga reports. The firm presently has an "outperform" rating on the business services provider's stock. Robert W. Baird's price objective points to a potential upside of 28.59% from the company's previous close.

WEX has been the subject of several other research reports. JPMorgan Chase & Co. decreased their target price on WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a research report on Tuesday, August 20th. Wells Fargo & Company lowered their price objective on shares of WEX from $200.00 to $180.00 and set an "equal weight" rating for the company in a research report on Friday. William Blair raised shares of WEX to a "strong-buy" rating in a research report on Friday, July 26th. 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. Finally, Bank of America lifted their price objective on WEX from $238.00 to $255.00 and gave the stock 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.92.

WEX Trading Down 1.3 %

WEX traded down $2.26 during trading on Friday, hitting $178.87. 773,766 shares of the company's stock were exchanged, compared to its average volume of 354,934. WEX has a 1 year low of $161.95 and a 1 year high of $244.04. The stock has a 50 day moving average price of $199.67 and a 200 day moving average price of $195.02. The firm has a market cap of $7.35 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66.

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

Insider Transactions at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of WEX 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 in the company, valued at $1,424,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Robert Joseph Deshaies sold 1,651 shares of the company's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the transaction, the chief operating officer now owns 7,757 shares in the company, valued at approximately $1,409,214.19. This 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 accessible through the SEC website. Also, CFO Jagtar Narula sold 508 shares of WEX 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 sale, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. 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 have sold 4,905 shares of company stock worth $895,107. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WEX

A number of hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC bought a new stake in shares of WEX during the second quarter valued at about $33,000. Covestor Ltd raised its position in shares of WEX by 233.9% during 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 in the last quarter. Quarry LP lifted its stake in shares of 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 period. Blue Trust Inc. boosted its holdings in shares of 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 acquiring an additional 187 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of WEX during the first quarter valued at approximately $60,000. Institutional investors own 97.47% of the company's stock.

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.