WEX (NYSE:WEX) Price Target Cut to $180.00 by Analysts at Wells Fargo & Company

WEX (NYSE:WEX) had its price target reduced by Wells Fargo & Company from $200.00 to $180.00 in a report issued on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the business services provider’s stock.

A number of other equities research analysts have also issued reports on the company. William Blair raised WEX to a “strong-buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. decreased their price objective on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Bank of America boosted their target price on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group lifted their price target on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note 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. According to MarketBeat, WEX presently has a consensus rating of “Moderate Buy” and an average price target of $235.91.

WEX Stock Performance

NYSE WEX opened at $178.72 on Friday. The business has a 50 day moving average price of $199.68 and a 200 day moving average price of $193.95. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $7.11 billion, a P/E ratio of 22.68, a PEG ratio of 1.24 and a beta of 1.55. WEX has a 1-year low of $161.95 and a 1-year high of $244.04.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.82 by $0.53. The business had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.44 EPS. Sell-side analysts expect that WEX will post 13.65 EPS for the current fiscal year.

Insider Activity at WEX

In other news, insider Melanie J. Tinto sold 1,564 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total value of $289,402.56. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other WEX news, insider Melanie J. Tinto sold 1,564 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total value of $289,402.56. Following the transaction, the insider now owns 8,461 shares in the company, valued at $1,565,623.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ann Elena Drew sold 1,182 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $964,524.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,905 shares of company stock worth $895,107. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WEX

A number of large investors have recently bought and sold shares of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of WEX by 5.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock worth $173,561,000 after purchasing an additional 48,182 shares during the period. Bessemer Group Inc. boosted its holdings in shares of WEX by 0.6% during the first quarter. Bessemer Group Inc. now owns 735,313 shares of the business services provider’s stock valued at $174,660,000 after acquiring an additional 4,262 shares during the period. Dimensional Fund Advisors LP grew its position in shares of WEX by 34.3% during the second quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock worth $87,772,000 after acquiring an additional 126,663 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of WEX by 3.0% in the 2nd quarter. Federated Hermes Inc. now owns 402,365 shares of the business services provider’s stock worth $71,275,000 after acquiring an additional 11,821 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in WEX by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 378,969 shares of the business services provider’s stock valued at $67,131,000 after purchasing an additional 17,989 shares during the last quarter. 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.