Wells Fargo & Company Boosts WEX (NYSE:WEX) Price Target to $200.00

WEX (NYSE:WEX) had its price target upped by Wells Fargo & Company from $190.00 to $200.00 in a research report report published on Monday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the business services provider’s stock.

Several other equities research analysts have also recently commented on WEX. Jefferies Financial Group boosted their price target on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Bank of America lifted their price target on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. William Blair raised WEX to a “strong-buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. dropped their price target on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note 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 on the stock in a research note on Monday, July 8th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $239.17.

WEX Price Performance

Shares of NYSE WEX opened at $213.04 on Monday. WEX has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The firm’s 50-day simple moving average is $199.61 and its 200 day simple moving average is $195.12. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. The stock has a market cap of $8.93 billion, a P/E ratio of 34.64, a P/E/G ratio of 1.22 and a beta of 1.55.

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

Insider Activity at WEX

In related news, insider Ann Elena Drew sold 1,182 shares of the business’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 completion of the sale, the insider now owns 5,584 shares of the company’s stock, valued at approximately $964,524.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Melanie J. Tinto sold 1,564 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total value of $289,402.56. Following the completion of the sale, the insider now directly owns 8,461 shares in the company, valued at approximately $1,565,623.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ann Elena Drew sold 1,182 shares of the business’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 completion of the sale, the insider now 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 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 corporate insiders.

Institutional Investors Weigh In On WEX

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in WEX in the 2nd quarter worth approximately $33,000. Covestor Ltd lifted its holdings in shares of WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after buying an additional 131 shares during the last quarter. Quarry LP lifted its holdings in shares of WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after buying an additional 165 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of WEX by 456.1% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after buying an additional 187 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of WEX during the first quarter worth approximately $60,000. 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.