WEX (NYSE:WEX) Downgraded by StockNews.com

StockNews.com lowered shares of WEX (NYSE:WEX) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Several other research analysts have also issued reports on WEX. TheStreet upgraded WEX from a c rating to a b rating in a research note on Thursday, February 8th. Barclays raised their target price on WEX from $240.00 to $255.00 and gave the stock an overweight rating in a report on Monday, February 12th. Truist Financial raised their price target on WEX from $185.00 to $220.00 and gave the stock a hold rating in a research report on Friday, February 9th. William Blair reissued an outperform rating on shares of WEX in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. lifted their target price on WEX from $205.00 to $239.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, WEX currently has a consensus rating of Moderate Buy and an average target price of $230.77.

WEX Stock Up 1.6 %

Shares of WEX stock opened at $237.53 on Tuesday. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of 38.56, a P/E/G ratio of 1.53 and a beta of 1.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. WEX has a 52-week low of $161.95 and a 52-week high of $239.18. The stock has a 50-day simple moving average of $219.58 and a 200-day simple moving average of $197.97.

WEX (NYSE:WEX) last posted its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a return on equity of 31.33% and a net margin of 10.46%. The company had revenue of $663.30 million during the quarter, compared to analyst estimates of $656.75 million. On average, equities research analysts expect that WEX will post 13.51 earnings per share for the current fiscal year.

Insider Activity at WEX

In other WEX news, insider Ann Elena Drew sold 4,531 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total value of $987,893.93. Following the completion of the sale, the insider now directly owns 3,653 shares of the company’s stock, valued at $796,463.59. The transaction 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 4,531 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total value of $987,893.93. Following the completion of the transaction, the insider now directly owns 3,653 shares of the company’s stock, valued at $796,463.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jagtar Narula sold 309 shares of WEX stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total value of $72,071.16. Following the sale, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,433 shares of company stock valued at $14,708,896. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC purchased a new position in WEX during the 4th quarter valued at about $27,000. VisionPoint Advisory Group LLC boosted its position in shares of WEX by 74.7% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after purchasing an additional 62 shares in the last quarter. FinTrust Capital Advisors LLC bought a new position in WEX in the 4th quarter valued at approximately $25,000. Principal Securities Inc. bought a new position in WEX in the 4th quarter valued at approximately $31,000. Finally, Steward Partners Investment Advisory LLC lifted its position in WEX by 79.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 169 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 75 shares in 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.