WEX (NYSE:WEX) PT Lowered to $230.00

WEX (NYSE:WEX) had its price target decreased by research analysts at Robert W. Baird from $285.00 to $230.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s target price suggests a potential upside of 26.99% from the company’s current price.

WEX has been the topic of a number of other reports. Bank of America increased their price objective on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods lowered their target price on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Jefferies Financial Group raised their target price on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. William Blair upgraded shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.92.

WEX Stock Performance

WEX stock opened at $181.11 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. WEX has a 1-year low of $161.95 and a 1-year high of $244.04. The firm has a market capitalization of $7.44 billion, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55. The company’s 50-day moving average is $199.67 and its 200 day moving average is $195.02.

WEX (NYSE:WEX) last issued its earnings results on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.09. The business had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. Research analysts forecast that WEX will post 13.68 EPS for the current year.

Insider Buying and Selling

In related news, CFO Jagtar Narula sold 508 shares of the business’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Jagtar Narula sold 508 shares of the business’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $172.73, for a total transaction of $204,166.86. Following the transaction, the insider now owns 5,584 shares in the company, valued at $964,524.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,905 shares of company stock worth $895,107. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On WEX

Institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in WEX in the 2nd quarter valued at about $33,000. Covestor Ltd boosted its holdings in WEX by 233.9% in the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 131 shares during the last quarter. Quarry LP boosted its holdings in WEX by 717.4% in the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 165 shares during the last quarter. Blue Trust Inc. boosted its holdings in WEX by 456.1% in the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 187 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in WEX in the 1st quarter valued at about $60,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

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.