WEX (NYSE:WEX) PT Lowered to $230.00

WEX (NYSE:WEX) had its price target lowered by Robert W. Baird from $285.00 to $230.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s target price indicates a potential upside of 26.99% from the company’s previous close.

A number of other equities research analysts also recently commented on WEX. William Blair raised shares of WEX to a “strong-buy” rating in a research report on Friday, July 26th. Wells Fargo & Company lowered their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Jefferies Financial Group upped their target price on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, WEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.92.

WEX Price Performance

Shares of WEX opened at $181.11 on Friday. WEX has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The firm’s 50 day moving average price is $199.67 and its 200 day moving average price is $195.02. The company has a market cap of $7.44 billion, a P/E ratio of 31.33, a PEG ratio of 1.19 and a beta of 1.55. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66.

WEX (NYSE:WEX) last announced its earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.09. WEX had a net margin of 9.32% and a return on equity of 31.05%. The firm had revenue of $673.50 million for the quarter, compared to the consensus estimate of $677.44 million. On average, research analysts forecast that WEX will post 13.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other WEX news, insider Ann Elena Drew sold 1,182 shares of WEX stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the transaction, the insider now directly owns 5,584 shares of the company’s stock, valued at $964,524.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,905 shares of company stock valued at $895,107. Insiders own 1.10% of the company’s stock.

Institutional Trading of WEX

A number of hedge funds have recently made changes to their positions in the company. American Century Companies Inc. raised its stake in shares of WEX by 0.7% during the second quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock valued at $1,847,000 after purchasing an additional 68 shares during the period. Ballentine Partners LLC increased its stake in shares of WEX by 3.3% in the second quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider’s stock worth $396,000 after buying an additional 72 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of WEX by 40.7% in the third quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after buying an additional 87 shares during the last quarter. Cozad Asset Management Inc. increased its stake in shares of WEX by 2.1% in the first quarter. Cozad Asset Management Inc. now owns 4,831 shares of the business services provider’s stock worth $1,148,000 after buying an additional 100 shares during the last quarter. Finally, Long Road Investment Counsel LLC increased its stake in shares of WEX by 0.4% in the second quarter. Long Road Investment Counsel LLC now owns 26,699 shares of the business services provider’s stock worth $4,729,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Company Profile

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.