JPMorgan Chase & Co. Trims WEX (NYSE:WEX) Target Price to $210.00

WEX (NYSE:WEX) had its target price trimmed by JPMorgan Chase & Co. from $246.00 to $210.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

A number of other research firms have also recently weighed in on WEX. Evercore ISI raised their price target on WEX from $250.00 to $275.00 and gave the company an outperform rating in a report on Tuesday, March 26th. Robert W. Baird lifted their price target on WEX from $272.00 to $285.00 and gave the company an outperform rating in a report on Monday, April 15th. Barclays increased their price objective on shares of WEX from $255.00 to $280.00 and gave the stock an overweight rating in a report on Tuesday, April 16th. Wells Fargo & Company started coverage on shares of WEX in a research note on Wednesday, June 5th. They issued an equal weight rating and a $200.00 target price for the company. Finally, Jefferies Financial Group upped their target price on shares of WEX from $235.00 to $240.00 and gave the stock a hold rating in a research report on Friday, April 12th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, WEX has an average rating of Moderate Buy and a consensus target price of $238.85.

WEX Stock Up 0.5 %

Shares of NYSE:WEX opened at $183.13 on Friday. The company has a market capitalization of $7.67 billion, a PE ratio of 29.78, a P/E/G ratio of 1.06 and a beta of 1.54. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.06 and a current ratio of 1.06. The company’s fifty day moving average is $185.04 and its 200-day moving average is $206.77. WEX has a 52 week low of $161.95 and a 52 week high of $244.04.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.15. The firm had revenue of $652.70 million for the quarter, compared to analyst estimates of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. Equities research analysts predict that WEX will post 13.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jagtar Narula sold 540 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.00, for a total value of $97,200.00. Following the sale, the chief financial officer now directly owns 8,168 shares in the company, valued at approximately $1,470,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WEX news, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $180.00, for a total value of $97,200.00. Following the completion of the transaction, the chief financial officer now directly owns 8,168 shares of the company’s stock, valued at $1,470,240. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jennifer Kimball sold 1,200 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total value of $253,860.00. Following the sale, the chief accounting officer now directly owns 1,909 shares in the company, valued at approximately $403,848.95. The disclosure for this sale can be found here. Insiders sold a total of 4,371 shares of company stock valued at $905,802 over the last three months. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. VisionPoint Advisory Group LLC raised its holdings in shares of WEX by 74.7% during the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after acquiring an additional 62 shares during the period. GAMMA Investing LLC bought a new position in WEX during the 4th quarter worth about $27,000. Rise Advisors LLC bought a new position in WEX during the 1st quarter worth about $29,000. Principal Securities Inc. acquired a new stake in shares of WEX in the 4th quarter valued at about $31,000. Finally, Covestor Ltd lifted its holdings in shares of WEX by 233.9% in the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 131 shares in the last quarter. 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.