WEX (NYSE:WEX) Price Target Raised to $195.00

WEX (NYSE:WEX) had its target price raised by equities researchers at UBS Group from $180.00 to $195.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. UBS Group‘s target price points to a potential upside of 5.58% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Mizuho increased their price target on WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Morgan Stanley lifted their price objective on shares of WEX from $172.00 to $178.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 27th. Cantor Fitzgerald boosted their target price on shares of WEX from $178.00 to $189.00 and gave the company a “neutral” rating in a research report on Friday. Wall Street Zen raised shares of WEX from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Piper Sandler assumed coverage on shares of WEX in a research note on Thursday, September 10th. They set a “neutral” rating and a $209.00 target price on the stock. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $191.10.

WEX Stock Up 0.0%

Shares of NYSE:WEX opened at $184.69 on Friday. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 0.94 and a beta of 0.93. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50-day moving average is $186.09 and its 200-day moving average is $164.54. WEX has a 1 year low of $125.29 and a 1 year high of $203.99.

WEX (NYSE:WEX) last released its earnings results on Wednesday, October 28th. The business services provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.68 by $0.45. The business had revenue of $780.10 million during the quarter, compared to analysts’ expectations of $749.74 million. WEX had a return on equity of 45.74% and a net margin of 14.05%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.59 earnings per share. Equities research analysts predict that WEX will post 17.32 earnings per share for the current year.

Insider Transactions at WEX

In other WEX news, COO Robert Deshaies sold 2,000 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $173.56, for a total value of $347,120.00. Following the transaction, the chief operating officer owned 17,288 shares in the company, valued at approximately $3,000,505.28. This represents a 10.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Melissa Smith sold 28,109 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $190.09, for a total value of $5,343,239.81. Following the completion of the sale, the chief executive officer directly owned 126,625 shares of the company’s stock, valued at $24,070,146.25. This trade represents a 18.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 34,527 shares of company stock valued at $6,558,910 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of WEX

Several hedge funds have recently bought and sold shares of WEX. Root Financial Partners LLC bought a new stake in WEX during the 3rd quarter valued at $25,000. Global Retirement Partners LLC bought a new position in shares of WEX in the second quarter valued at $26,000. Covestor Ltd lifted its stake in shares of WEX by 97.8% in the third quarter. Covestor Ltd now owns 267 shares of the business services provider’s stock valued at $45,000 after buying an additional 132 shares in the last quarter. Reyes Financial Architecture Inc. bought a new position in shares of WEX in the third quarter valued at $47,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of WEX during the second quarter valued at about $41,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Company Profile

WEX Inc (NYSE:WEX) is a financial technology company that provides payment-processing and business-management solutions. Its products are designed to help organizations manage corporate spending, employee benefits and mobility-related expenses through specialized payment accounts, software and data tools.

WEX’s mobility business serves commercial vehicle fleets with fuel cards, fleet-payment programs, expense controls, telematics integrations and related solutions. The company also supports emerging mobility needs, including electric-vehicle charging payments.