Bank of America Increases WEX (NYSE:WEX) Price Target to $255.00

WEX (NYSE:WEX) had its price target boosted by Bank of America from $238.00 to $255.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of WEX from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. William Blair raised WEX to a “strong-buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. decreased their target price on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods dropped their price target on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.33.

WEX Stock Up 0.1 %

WEX stock opened at $213.55 on Tuesday. The stock’s 50 day moving average price is $195.75 and its 200 day moving average price is $196.01. The company has a market cap of $8.77 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 1.28 and a beta of 1.55. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. WEX has a 1-year low of $161.95 and a 1-year high of $244.04.

WEX (NYSE:WEX) last issued its earnings results on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.20 by $0.09. The company had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. On average, sell-side analysts predict that WEX will post 13.75 EPS for the current fiscal year.

Insider Activity at WEX

In other WEX news, 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 transaction of $204,166.86. Following the sale, the insider now directly owns 5,584 shares of the company’s stock, valued at $964,524.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Jagtar Narula sold 508 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ann Elena Drew sold 1,182 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the sale, the insider now directly owns 5,584 shares in the company, valued at approximately $964,524.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,905 shares of company stock valued at $895,107. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WEX. Inspire Advisors LLC purchased a new stake in WEX in the third quarter valued at approximately $221,000. B.O.S.S. Retirement Advisors LLC purchased a new stake in shares of WEX during the 3rd quarter valued at $223,000. Creative Planning increased its holdings in shares of WEX by 1.8% during the 3rd quarter. Creative Planning now owns 78,721 shares of the business services provider’s stock worth $16,510,000 after buying an additional 1,398 shares during the last quarter. Procyon Advisors LLC raised its position in shares of WEX by 3.9% in the 3rd quarter. Procyon Advisors LLC now owns 3,691 shares of the business services provider’s stock worth $774,000 after buying an additional 138 shares during the period. Finally, Diversified Trust Co boosted its holdings in WEX by 55.3% in the third quarter. Diversified Trust Co now owns 2,799 shares of the business services provider’s stock valued at $587,000 after acquiring an additional 997 shares during the last quarter. 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.