WEX (NYSE:WEX) Price Target Increased to $200.00 by Analysts at Wells Fargo & Company

WEX (NYSE:WEX) had its target price upped by Wells Fargo & Company from $190.00 to $200.00 in a research note issued to investors on Monday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the business services provider’s stock.

Several other analysts have also recently commented on the stock. William Blair upgraded shares of WEX to a “strong-buy” rating in a report on Friday, July 26th. Jefferies Financial Group lifted their target price on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price target on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Bank of America lifted their price target on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, WEX has an average rating of “Moderate Buy” and an average price target of $239.17.

WEX Stock Down 1.7 %

WEX stock opened at $212.90 on Monday. The company’s 50-day moving average price is $198.16 and its two-hundred day moving average price is $195.19. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 1.22 and a beta of 1.55. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. WEX has a 52 week low of $161.95 and a 52 week high of $244.04.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) 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 company had revenue of $673.50 million for the quarter, compared to analysts’ expectations of $677.44 million. On average, analysts expect that WEX will post 13.68 EPS for the current fiscal year.

Insider Buying and Selling at WEX

In other news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the sale, the insider now owns 5,584 shares in the company, valued at approximately $964,524.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the sale, the insider now owns 5,584 shares in the company, valued at approximately $964,524.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Melanie J. Tinto sold 1,564 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the sale, the insider now directly owns 8,461 shares in the company, valued at approximately $1,565,623.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,905 shares of company stock valued at $895,107 in the last 90 days. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WEX. International Assets Investment Management LLC acquired a new stake in shares of WEX in the 2nd quarter valued at approximately $33,000. Quarry LP raised its holdings in WEX by 717.4% during the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after buying an additional 165 shares during the period. Blue Trust Inc. raised its holdings in WEX by 456.1% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after buying an additional 187 shares during the period. Covestor Ltd raised its holdings in WEX by 233.9% during the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after buying an additional 131 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new stake in WEX during the 1st quarter worth approximately $60,000. Institutional investors 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.