WEX (NYSE:WEX) PT Raised to $280.00

WEX (NYSE:WEX) had its price objective boosted by Citigroup from $240.00 to $280.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Citigroup’s target price would suggest a potential upside of 21.82% from the company’s previous close.

WEX has been the subject of a number of other reports. Jefferies Financial Group boosted their target price on WEX from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Robert W. Baird increased their target price on WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. lifted their price target on shares of WEX from $205.00 to $239.00 and gave the company a “neutral” 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 report on Thursday, February 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of WEX in a research report on Thursday, February 8th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $240.00.

WEX Stock Down 0.0 %

Shares of WEX stock opened at $229.84 on Wednesday. WEX has a 12 month low of $161.95 and a 12 month high of $244.04. The business has a fifty day simple moving average of $229.30 and a 200 day simple moving average of $202.01. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55. The stock has a market cap of $9.59 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 1.51 and a beta of 1.59.

WEX (NYSE:WEX) last issued 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 for the quarter, compared to analyst estimates of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. Research analysts predict that WEX will post 13.55 EPS for the current year.

Insider Activity

In related news, CAO Jennifer Kimball sold 574 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $222.24, for a total transaction of $127,565.76. Following the sale, the chief accounting officer now owns 1,297 shares in the company, valued at $288,245.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Jennifer Kimball sold 574 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $222.24, for a total value of $127,565.76. Following the completion of the transaction, the chief accounting officer now directly owns 1,297 shares of the company’s stock, valued at $288,245.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jagtar Narula sold 309 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 69,433 shares of company stock worth $14,708,896 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WEX

Hedge funds have recently bought and sold shares of the company. Morgan Stanley lifted its holdings in WEX by 342.4% during the 4th quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock worth $337,102,000 after purchasing an additional 1,594,294 shares during the last quarter. Norges Bank bought a new stake in shares of WEX in the fourth quarter valued at about $89,745,000. Kodai Capital Management LP acquired a new stake in shares of WEX during the 4th quarter worth approximately $49,750,000. Wellington Management Group LLP lifted its stake in WEX by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after purchasing an additional 179,813 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased 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 purchasing an additional 172,805 shares during the last quarter. 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.