Barclays Boosts WEX (NYSE:WEX) Price Target to $280.00

WEX (NYSE:WEX) had its target price increased by Barclays from $255.00 to $280.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Jefferies Financial Group upped their target price on WEX from $235.00 to $240.00 and gave the stock a hold rating in a research report on Friday, April 12th. TheStreet raised WEX from a c rating to a b rating in a research note on Thursday, February 8th. Robert W. Baird boosted their price target on shares of WEX from $272.00 to $285.00 and gave the stock an outperform rating in a research report on Monday. JPMorgan Chase & Co. raised their price objective on shares of WEX from $205.00 to $239.00 and gave the company a neutral rating in a research report on Friday, February 9th. Finally, Mizuho lifted their price objective 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. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $236.92.

WEX Price Performance

Shares of WEX opened at $233.47 on Tuesday. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 37.90, a price-to-earnings-growth ratio of 1.53 and a beta of 1.59. The stock’s fifty day moving average is $228.29 and its 200-day moving average is $201.62. WEX has a one year low of $161.95 and a one year high of $244.04. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.05 and a current ratio of 1.05.

WEX (NYSE:WEX) last released its earnings results on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a net margin of 10.46% and a return on equity of 31.33%. The company had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. Equities analysts anticipate that WEX will post 13.51 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Sara Trickett sold 887 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Sara Trickett sold 887 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $224.61, for a total transaction of $199,229.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jennifer Kimball sold 574 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $222.24, for a total value of $127,565.76. Following the sale, the chief accounting officer now owns 1,297 shares of the company’s stock, valued at $288,245.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,433 shares of company stock worth $14,708,896. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its stake in shares of WEX by 342.4% in the fourth quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock worth $337,102,000 after acquiring an additional 1,594,294 shares during the last quarter. Norges Bank acquired a new position in WEX in the 4th quarter worth about $89,745,000. Kodai Capital Management LP purchased a new stake in shares of WEX during the 4th quarter worth about $49,750,000. Wellington Management Group LLP lifted its holdings in shares of WEX by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after buying an additional 179,813 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of WEX by 40.6% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 598,641 shares of the business services provider’s stock valued at $108,024,000 after buying an additional 172,805 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

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.