WEX (NYSE:WEX) PT Raised to $220.00

WEX (NYSE:WEXGet Rating) had its target price boosted by Barclays from $217.00 to $220.00 in a research report issued to clients and investors on Monday, The Fly reports. The firm presently has a “maintains” rating on the business services provider’s stock. Barclays‘s price objective points to a potential upside of 31.46% from the company’s previous close.

A number of other brokerages have also weighed in on WEX. Wells Fargo & Company lowered their price objective on WEX to $206.00 in a report on Friday, July 22nd. Evercore ISI reiterated an “outperform” rating and set a $230.00 price target on shares of WEX in a research report on Thursday, June 2nd. Truist Financial lifted their price target on shares of WEX from $170.00 to $185.00 and gave the company a “maintains” rating in a research report on Friday. Citigroup upgraded shares of WEX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $190.00 to $210.00 in a research report on Thursday, June 9th. Finally, Mizuho reduced their price target on shares of WEX from $235.00 to $212.00 and set a “maintains” rating for the company in a research report on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.73.

WEX Stock Performance

Shares of NYSE WEX traded up $1.14 during midday trading on Monday, reaching $167.35. 9,581 shares of the company were exchanged, compared to its average volume of 278,251. The company has a current ratio of 1.16, a quick ratio of 1.21 and a debt-to-equity ratio of 1.52. WEX has a 1 year low of $123.01 and a 1 year high of $197.70. The stock has a fifty day simple moving average of $162.43 and a 200 day simple moving average of $163.98. The stock has a market cap of $7.53 billion, a P/E ratio of 38.97, a PEG ratio of 0.76 and a beta of 1.55.

WEX (NYSE:WEXGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The business services provider reported $3.71 earnings per share for the quarter, beating analysts’ consensus estimates of $3.01 by $0.70. WEX had a return on equity of 24.68% and a net margin of 9.23%. The company had revenue of $598.20 million for the quarter, compared to analyst estimates of $571.33 million. During the same quarter in the previous year, the company earned $1.93 EPS. The firm’s revenue for the quarter was up 30.2% compared to the same quarter last year. On average, research analysts forecast that WEX will post 11.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other WEX news, CAO Jennifer Kimball sold 1,719 shares of the business’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $171.09, for a total value of $294,103.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Melanie J. Tinto sold 782 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $172.22, for a total transaction of $134,676.04. Following the completion of the sale, the insider now directly owns 6,751 shares of the company’s stock, valued at approximately $1,162,657.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer Kimball sold 1,719 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $171.09, for a total transaction of $294,103.71. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Trading of WEX

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC boosted its position in WEX by 276.7% during the 1st quarter. CWM LLC now owns 162 shares of the business services provider’s stock worth $29,000 after purchasing an additional 119 shares during the period. Core Alternative Capital purchased a new position in WEX in the 1st quarter valued at about $31,000. Fifth Third Bancorp boosted its position in WEX by 38.4% in the 4th quarter. Fifth Third Bancorp now owns 227 shares of the business services provider’s stock valued at $32,000 after buying an additional 63 shares during the last quarter. Lazard Asset Management LLC purchased a new position in WEX in the 1st quarter valued at about $44,000. Finally, Charter Oak Capital Management LLC boosted its position in WEX by 294.1% in the 4th quarter. Charter Oak Capital Management LLC now owns 268 shares of the business services provider’s stock valued at $38,000 after buying an additional 200 shares during the last quarter. 98.23% of the stock is owned by hedge funds and other institutional investors.

About WEX

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WEX Inc provides financial technology services in the United States and internationally. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.

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