WEX (NYSE:WEX) Given New $280.00 Price Target at Barclays

WEX (NYSE:WEX) had its target price increased by Barclays from $255.00 to $280.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

Several other brokerages have also weighed in on WEX. Truist Financial upped their target price on WEX from $185.00 to $220.00 and gave the stock a hold rating in a research report on Friday, February 9th. TheStreet raised WEX from a c rating to a b rating in a research report on Thursday, February 8th. Robert W. Baird upped their target price on WEX from $272.00 to $285.00 and gave the stock an outperform rating in a research report on Monday, April 15th. StockNews.com lowered WEX from a buy rating to a hold rating in a research report on Tuesday, March 26th. Finally, Mizuho increased their price objective on WEX from $225.00 to $235.00 and gave the company a buy rating in a report on Tuesday, February 13th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $240.00.

WEX Stock Up 0.3 %

Shares of WEX stock opened at $230.48 on Tuesday. The stock has a 50-day moving average price of $229.66 and a 200 day moving average price of $202.31. The company has a market cap of $9.62 billion, a P/E ratio of 37.42, a P/E/G ratio of 1.49 and a beta of 1.59. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. WEX has a 1 year low of $161.95 and a 1 year high of $244.04.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.29 by ($0.15). The business had revenue of $663.30 million during the quarter, compared to analysts’ expectations of $656.75 million. WEX had a return on equity of 31.33% and a net margin of 10.46%. As a group, analysts expect that WEX will post 13.55 EPS for the current fiscal year.

Insider Buying and Selling at WEX

In other WEX news, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the sale, the chief financial officer now owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other WEX news, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the completion of the sale, the chief financial officer now owns 5,528 shares in the company, valued at approximately $1,289,350.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert Joseph Deshaies sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $221.85, for a total value of $332,775.00. Following the completion of the sale, the chief operating officer now owns 5,570 shares of the company’s stock, valued at approximately $1,235,704.50. The disclosure for this sale can be found here. Insiders have sold 69,433 shares of company stock valued at $14,708,896 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Institutional Trading of WEX

A number of hedge funds have recently modified their holdings of WEX. Morgan Stanley lifted its position in shares of WEX by 342.4% in the 4th quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock worth $337,102,000 after acquiring an additional 1,594,294 shares during the period. Norges Bank bought a new position in shares of WEX during the 4th quarter worth approximately $89,745,000. Kodai Capital Management LP bought a new position in shares of WEX during the 4th quarter worth approximately $49,750,000. Wellington Management Group LLP lifted its position in shares of WEX by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after buying an additional 179,813 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of WEX by 40.6% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 598,641 shares of the business services provider’s stock worth $108,024,000 after buying an additional 172,805 shares during the period. Institutional investors 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.