WEX (NYSE:WEX) Given New $170.00 Price Target at Mizuho

WEX (NYSE:WEX) had its price objective reduced by equities research analysts at Mizuho from $215.00 to $170.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Mizuho’s target price points to a potential upside of 12.55% from the company’s current price.

A number of other equities analysts have also recently commented on WEX. William Blair reaffirmed a “market perform” rating on shares of WEX in a report on Thursday. Jefferies Financial Group upped their price target on shares of WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Robert W. Baird decreased their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company dropped their target price on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Bank of America downgraded WEX from a “buy” rating to a “neutral” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $199.73.

WEX Trading Down 0.7 %

Shares of WEX stock traded down $1.04 during trading on Monday, reaching $151.05. 380,363 shares of the stock were exchanged, compared to its average volume of 480,239. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.24 and a beta of 1.58. WEX has a 1 year low of $146.03 and a 1 year high of $244.04. The stock’s fifty day moving average is $177.60 and its 200 day moving average is $185.82. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX) last released its earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. As a group, equities research analysts expect that WEX will post 14.27 earnings per share for the current fiscal year.

Insider Activity

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the transaction, the chief operating officer now owns 7,582 shares of the company’s stock, valued at $1,436,334.08. This represents a 2.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WEX

Several large investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its position in shares of WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after acquiring an additional 101 shares during the period. Wilmington Savings Fund Society FSB bought a new position in WEX in the third quarter worth approximately $35,000. Jones Financial Companies Lllp increased its holdings in WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after purchasing an additional 129 shares during the period. UMB Bank n.a. raised its position in WEX by 552.5% during the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 221 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of WEX by 47.3% in the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after buying an additional 89 shares during the period. 97.47% of the stock is owned by hedge funds and other 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.