WEX (NYSE:WEX) Price Target Lowered to $180.00 at Wells Fargo & Company

WEX (NYSE:WEX) had its price target reduced by Wells Fargo & Company from $200.00 to $180.00 in a research note released on Friday, Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

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

WEX Price Performance

Shares of NYSE:WEX traded down $2.28 during trading on Friday, hitting $178.85. 773,768 shares of the company were exchanged, compared to its average volume of 354,934. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. WEX has a 1-year low of $161.95 and a 1-year high of $244.04. The company has a market capitalization 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 business’s 50 day moving average is $199.68 and its 200-day moving average is $194.59.

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

Insider Transactions at WEX

In related news, CFO Jagtar Narula sold 508 shares of the stock in a transaction on 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 of the company’s stock, valued at $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Melanie J. Tinto sold 1,564 shares of WEX stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total value of $289,402.56. Following the completion of the sale, the insider now owns 8,461 shares of the company’s stock, valued at approximately $1,565,623.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,905 shares of company stock valued at $895,107 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WEX

Several hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. raised its stake in shares of WEX by 0.7% in the second quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock worth $1,847,000 after purchasing an additional 68 shares during the last quarter. Ballentine Partners LLC raised its position in WEX by 3.3% in the 2nd quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider’s stock valued at $396,000 after buying an additional 72 shares during the last quarter. GAMMA Investing LLC lifted its stake in WEX by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 87 shares in the last quarter. Cozad Asset Management Inc. boosted its holdings in WEX by 2.1% during the 1st quarter. Cozad Asset Management Inc. now owns 4,831 shares of the business services provider’s stock worth $1,148,000 after acquiring an additional 100 shares during the last quarter. Finally, Long Road Investment Counsel LLC grew its stake in shares of WEX by 0.4% in the 2nd quarter. Long Road Investment Counsel LLC now owns 26,699 shares of the business services provider’s stock worth $4,729,000 after acquiring an additional 100 shares in the last quarter. 97.47% of the stock is owned by institutional investors.

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.