Wells Fargo & Company Initiates Coverage on WEX (NYSE:WEX)

Wells Fargo & Company initiated coverage on shares of WEX (NYSE:WEXGet Free Report) in a report released on Wednesday, Briefing.com reports. The firm set an “equal weight” rating and a $200.00 price target on the business services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 9.40% from the stock’s previous close.

A number of other equities research analysts have also weighed in on WEX. Mizuho boosted their price objective on shares of WEX from $225.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Robert W. Baird boosted their target price on shares of WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. boosted their target price 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. William Blair restated an “outperform” rating on shares of WEX in a research report on Thursday, February 8th. Finally, TheStreet upgraded shares of WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $237.14.

Get Our Latest Analysis on WEX

WEX Price Performance

Shares of WEX opened at $182.81 on Wednesday. The firm has a market capitalization of $7.66 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 1.07 and a beta of 1.56. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.06 and a quick ratio of 1.06. WEX has a 1-year low of $161.95 and a 1-year high of $244.04. The company’s fifty day moving average price is $215.22 and its 200-day moving average price is $208.06.

WEX (NYSE:WEXGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The business services provider reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.15. The firm had revenue of $652.70 million for the quarter, compared to analyst estimates of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. On average, equities research analysts predict that WEX will post 13.98 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Jennifer Kimball sold 1,200 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $211.55, for a total transaction of $253,860.00. Following the completion of the sale, the chief accounting officer now owns 1,909 shares of the company’s stock, valued at $403,848.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Robert Joseph Deshaies sold 1,897 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $211.01, for a total transaction of $400,285.97. Following the completion of the sale, the chief operating officer now owns 9,408 shares of the company’s stock, valued at $1,985,182.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer Kimball sold 1,200 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total transaction of $253,860.00. Following the sale, the chief accounting officer now directly owns 1,909 shares of the company’s stock, valued at approximately $403,848.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,140 shares of company stock worth $880,673. Company insiders own 1.10% of the company’s stock.

Institutional Trading of WEX

Several large investors have recently bought and sold shares of WEX. Norges Bank purchased a new stake in WEX during the 4th quarter valued at about $89,745,000. Kodai Capital Management LP purchased a new stake in WEX during the 4th quarter valued at about $49,750,000. Wellington Management Group LLP grew its stake in 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 acquiring an additional 179,813 shares in the last quarter. Handelsbanken Fonder AB grew its stake in WEX by 2,524.0% during the 4th quarter. Handelsbanken Fonder AB now owns 163,844 shares of the business services provider’s stock valued at $31,876,000 after acquiring an additional 157,600 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in WEX by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,131,124 shares of the business services provider’s stock valued at $777,023,000 after acquiring an additional 83,102 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Company Profile

(Get Free Report)

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.

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Analyst Recommendations for WEX (NYSE:WEX)

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