Wells Fargo & Company Lowers WEX (NYSE:WEX) Price Target to $160.00

WEX (NYSE:WEX - Free Report) had its price target reduced by Wells Fargo & Company from $180.00 to $160.00 in a report issued on Friday,Benzinga reports. They currently have an equal weight rating on the business services provider's stock.

Other equities analysts have also issued reports about the company. Citigroup lowered WEX from a "buy" rating to a "neutral" rating and cut their target price for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. William Blair reaffirmed a "market perform" rating on shares of WEX in a research report on Thursday, February 6th. Keefe, Bruyette & Woods dropped their price target on WEX from $247.00 to $220.00 and set an "outperform" rating on the stock in a research report on Monday, January 6th. Barclays reissued an "equal weight" rating and set a $200.00 price target (down from $207.00) on shares of WEX in a research report on Tuesday, December 17th. Finally, Robert W. Baird dropped their price target on WEX from $285.00 to $230.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $199.73.

WEX Trading Up 0.5 %

Shares of NYSE:WEX traded up $0.70 during trading on Friday, reaching $155.00. 652,467 shares of the stock were exchanged, compared to its average volume of 501,616. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. WEX has a 12-month low of $146.03 and a 12-month high of $244.04. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.24 and a beta of 1.58. The firm's 50-day moving average price is $176.89 and its 200 day moving average price is $185.69.

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

Insider Buying and Selling

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the company's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the transaction, the chief operating officer now directly owns 7,582 shares of the company's stock, valued at $1,436,334.08. This represents a 2.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WEX. Northwestern Mutual Wealth Management Co. grew its holdings in WEX by 40.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the business services provider's stock valued at $77,000 after buying an additional 124 shares during the last quarter. Truist Financial Corp lifted its position in shares of WEX by 21.0% in the 2nd quarter. Truist Financial Corp now owns 2,943 shares of the business services provider's stock worth $521,000 after acquiring an additional 510 shares during the period. Cetera Investment Advisers lifted its position in shares of WEX by 4.4% in the 2nd quarter. Cetera Investment Advisers now owns 13,874 shares of the business services provider's stock worth $2,458,000 after acquiring an additional 585 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of WEX in the 2nd quarter worth approximately $397,000. Finally, GAMMA Investing LLC lifted its position in shares of WEX by 40.7% in the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider's stock worth $63,000 after acquiring an additional 87 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.