WEX (NYSE:WEX) Price Target Raised to $285.00

WEX (NYSE:WEX) had its target price raised by Robert W. Baird from $272.00 to $285.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s price target indicates a potential upside of 22.07% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on WEX. StockNews.com cut WEX from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. TheStreet upgraded WEX from a “c” rating to a “b” rating in a report on Thursday, February 8th. Mizuho boosted their price target on WEX from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. William Blair reiterated an “outperform” rating on shares of WEX in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. boosted their price target on WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.92.

WEX Price Performance

Shares of NYSE WEX opened at $233.47 on Monday. WEX has a twelve month low of $161.95 and a twelve month high of $244.04. The company has a market cap of $9.75 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 1.53 and a beta of 1.59. The business’s 50 day moving average price is $228.29 and its two-hundred day moving average price is $201.62. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a return on equity of 31.33% and a net margin of 10.46%. The firm had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. On average, analysts predict that WEX will post 13.51 EPS for the current year.

Insiders Place Their Bets

In other WEX news, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the completion of the sale, the chief financial officer now directly owns 5,528 shares in the company, valued at $1,289,350.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Jennifer Kimball sold 574 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $222.24, for a total transaction of $127,565.76. Following the completion of the transaction, the chief accounting officer now directly owns 1,297 shares in the company, valued at $288,245.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the transaction, the chief financial officer now owns 5,528 shares of the company’s stock, valued at $1,289,350.72. The disclosure for this sale can be found here. Insiders sold 69,433 shares of company stock worth $14,708,896 over the last three months. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. CWM LLC increased its holdings in WEX by 15.6% in the fourth quarter. CWM LLC now owns 377 shares of the business services provider’s stock valued at $73,000 after purchasing an additional 51 shares during the period. Townsquare Capital LLC increased its holdings in WEX by 1.8% in the fourth quarter. Townsquare Capital LLC now owns 2,945 shares of the business services provider’s stock valued at $482,000 after purchasing an additional 51 shares during the period. Raymond James Trust N.A. increased its holdings in WEX by 2.2% in the second quarter. Raymond James Trust N.A. now owns 2,502 shares of the business services provider’s stock valued at $455,000 after purchasing an additional 53 shares during the period. VisionPoint Advisory Group LLC increased its holdings in WEX by 74.7% in the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 62 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in WEX by 4.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,733 shares of the business services provider’s stock valued at $337,000 after purchasing an additional 72 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

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.