WEX (NYSE:WEX) PT Raised to $280.00 at Citigroup

WEX (NYSE:WEX) had its price target increased by Citigroup from $240.00 to $280.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Other equities analysts have also issued reports about the stock. Truist Financial boosted their target price on shares of WEX from $185.00 to $220.00 and gave the company a hold rating in a report on Friday, February 9th. Mizuho boosted their target price on shares of WEX from $225.00 to $235.00 and gave the company a buy rating in a report on Tuesday, February 13th. William Blair restated an outperform rating on shares of WEX in a report on Thursday, February 8th. TheStreet upgraded shares of WEX from a c rating to a b rating in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of WEX from $205.00 to $239.00 and gave the stock a neutral rating in a report on Friday, February 9th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $240.00.

WEX Stock Up 0.3 %

Shares of NYSE WEX opened at $230.48 on Wednesday. WEX has a 12-month low of $161.95 and a 12-month high of $244.04. The stock has a market cap of $9.62 billion, a PE ratio of 37.42, a P/E/G ratio of 1.49 and a beta of 1.59. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. The company has a 50-day moving average of $229.66 and a 200 day moving average of $202.31.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.29 by ($0.15). The business had revenue of $663.30 million for the quarter, compared to analysts’ expectations of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. As a group, sell-side analysts predict that WEX will post 13.55 EPS for the current fiscal year.

Insider Activity at WEX

In related news, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total value of $72,071.16. Following the completion of the sale, the chief financial officer now owns 5,528 shares in the company, valued at $1,289,350.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Melissa D. Smith sold 41,107 shares of WEX stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the completion of the sale, the chief executive officer now directly owns 81,998 shares in the company, valued at $16,809,590. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jagtar Narula sold 309 shares of WEX stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the sale, 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 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WEX

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of WEX by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock worth $816,919,000 after buying an additional 67,893 shares in the last quarter. BlackRock Inc. grew its holdings in shares of WEX by 1.2% during the first quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock worth $732,950,000 after buying an additional 49,480 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of WEX by 4.2% during the first quarter. Wellington Management Group LLP now owns 4,101,566 shares of the business services provider’s stock worth $731,925,000 after buying an additional 164,902 shares in the last quarter. Morgan Stanley grew its holdings in shares of WEX by 342.4% during the fourth quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock worth $337,102,000 after buying an additional 1,594,294 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in WEX by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 1,336,884 shares of the business services provider’s stock valued at $245,840,000 after purchasing an additional 39,312 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

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.