WEX (NYSE:WEX) PT Raised to $240.00

WEX (NYSE:WEX) had its price objective raised by research analysts at Jefferies Financial Group from $235.00 to $240.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the business services provider’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 1.75% from the company’s previous close.

WEX has been the topic of a number of other reports. Truist Financial lifted their price objective on shares of WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research note on Friday, February 9th. TheStreet raised shares of WEX from a “c” rating to a “b” rating in a research note on Thursday, February 8th. Barclays lifted their price objective on shares of WEX from $240.00 to $255.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Mizuho boosted their target price on shares of WEX from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, Evercore ISI boosted their target price on shares of WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.23.

WEX Stock Down 1.8 %

Shares of WEX opened at $235.88 on Friday. WEX has a 12 month low of $161.95 and a 12 month high of $244.04. The firm’s 50 day moving average is $226.93 and its 200-day moving average is $200.97. The stock has a market capitalization of $9.85 billion, a PE ratio of 38.29, a P/E/G ratio of 1.56 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 (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 analysts’ consensus estimates of $3.29 by ($0.15). The firm had revenue of $663.30 million during the quarter, compared to the consensus estimate of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. Equities research analysts forecast that WEX will post 13.51 EPS for the current year.

Insider Transactions at WEX

In other news, CEO Melissa D. Smith sold 41,107 shares of WEX stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the transaction, the chief executive officer now owns 81,998 shares in the company, valued at $16,809,590. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Jagtar Narula sold 309 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total value of $72,071.16. Following the transaction, the chief financial officer now owns 5,528 shares in the company, valued at $1,289,350.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Melissa D. Smith sold 41,107 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the completion of the transaction, the chief executive officer now owns 81,998 shares in the company, valued at approximately $16,809,590. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,433 shares of company stock worth $14,708,896. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WEX

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC bought a new stake in WEX in the first quarter valued at $29,000. GAMMA Investing LLC bought a new stake in WEX in the fourth quarter valued at $27,000. VisionPoint Advisory Group LLC increased its stake in WEX by 74.7% in the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 62 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in WEX in the fourth quarter valued at $25,000. Finally, Principal Securities Inc. bought a new stake in WEX in the fourth quarter valued at $31,000. 97.47% of the stock is owned by institutional investors.

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.