WEX (NYSE:WEX) PT Lowered to $210.00 at JPMorgan Chase & Co.

WEX (NYSE:WEX) had its price target cut by JPMorgan Chase & Co. from $246.00 to $210.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 14.67% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Evercore ISI upped their price target on WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. StockNews.com cut WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods reduced their price objective 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. Robert W. Baird lifted their target price on shares of WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company initiated coverage on shares of WEX in a research note on Wednesday, June 5th. They set an “equal weight” rating and a $200.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.93.

WEX Stock Up 0.5 %

WEX stock opened at $183.13 on Friday. The firm’s 50-day simple moving average is $185.04 and its 200 day simple moving average is $206.70. The stock has a market cap of $7.67 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 1.06 and a beta of 1.54. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.73. WEX has a fifty-two week low of $161.95 and a fifty-two week high of $244.04.

WEX (NYSE:WEX) last released its earnings results on Thursday, April 25th. The business services provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.83 by $0.15. The firm had revenue of $652.70 million for the quarter, compared to analysts’ expectations of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. As a group, sell-side analysts predict that WEX will post 13.95 EPS for the current year.

Insider Activity at WEX

In other WEX news, CFO Jagtar Narula sold 540 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.00, for a total transaction of $97,200.00. Following the transaction, the chief financial officer now directly owns 8,168 shares of the company’s stock, valued at $1,470,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Sara Trickett sold 734 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total transaction of $154,455.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $180.00, for a total transaction of $97,200.00. Following the transaction, the chief financial officer now owns 8,168 shares in the company, valued at approximately $1,470,240. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,371 shares of company stock valued at $905,802. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of WEX

Several institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in WEX in the 4th quarter valued at $89,745,000. Kodai Capital Management LP acquired a new stake in shares of WEX in the fourth quarter valued at approximately $49,750,000. Wellington Management Group LLP raised its position in WEX by 6.1% in the 4th 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. Handelsbanken Fonder AB lifted its holdings 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 worth $31,876,000 after buying an additional 157,600 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of WEX by 2.1% during the third 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 during the period. Institutional investors and hedge funds 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.