WEX (NYSE:WEX) PT Lowered to $180.00 at Wells Fargo & Company

WEX (NYSE:WEX) had its price target trimmed by Wells Fargo & Company from $200.00 to $180.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the business services provider’s stock.

A number of other equities analysts also recently issued reports on WEX. Jefferies Financial Group increased their price target on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods dropped their price target on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. JPMorgan Chase & Co. dropped their price objective on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. William Blair raised WEX to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Bank of America increased their price target on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, WEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

WEX Stock Performance

Shares of WEX stock opened at $178.85 on Friday. The stock’s fifty day moving average is $199.68 and its two-hundred day moving average is $193.95. The company has a market capitalization of $7.49 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. WEX has a 52 week low of $161.95 and a 52 week high of $244.04.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.20 by $0.09. WEX had a return on equity of 31.05% and a net margin of 9.32%. The company had revenue of $673.50 million for the quarter, compared to the consensus estimate of $677.44 million. As a group, analysts expect that WEX will post 13.68 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of WEX

Several institutional investors have recently bought and sold shares of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in WEX by 5.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock valued at $173,561,000 after purchasing an additional 48,182 shares during the period. Bessemer Group Inc. boosted its stake in shares of WEX by 0.6% in the first quarter. Bessemer Group Inc. now owns 735,313 shares of the business services provider’s stock worth $174,660,000 after acquiring an additional 4,262 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of WEX by 34.3% in the second quarter. Dimensional Fund Advisors LP now owns 495,527 shares of the business services provider’s stock worth $87,772,000 after acquiring an additional 126,663 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of WEX by 3.0% in the second quarter. Federated Hermes Inc. now owns 402,365 shares of the business services provider’s stock worth $71,275,000 after acquiring an additional 11,821 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of WEX by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 378,969 shares of the business services provider’s stock worth $67,131,000 after acquiring an additional 17,989 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

About WEX

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.