WEX (NYSE:WEX) had its price target increased by Deutsche Bank from $209.00 to $223.00 in a research report sent to investors on Friday, BenzingaRatingsTable reports. Deutsche Bank currently has a buy rating on the business services provider’s stock.
Other research analysts have also issued reports about the company. William Blair reissued an outperform rating on shares of WEX in a research report on Thursday, March 21st. BTIG Research set a $225.00 price target on WEX and gave the company a buy rating in a research note on Tuesday, April 2nd. Morgan Stanley upped their target price on WEX from $190.00 to $197.00 and gave the stock an equal weight rating in a research note on Friday, March 22nd. Barclays upped their target price on WEX from $222.00 to $238.00 and gave the stock an overweight rating in a research note on Monday, May 6th. Finally, Zacks Investment Research upgraded WEX from a hold rating to a buy rating and set a $214.00 price target on the stock in a research report on Saturday, June 15th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. WEX currently has an average rating of Buy and an average price target of $212.46.
NYSE:WEX opened at $203.48 on Friday. The company has a market cap of $8.92 billion, a P/E ratio of 26.63, a price-to-earnings-growth ratio of 1.62 and a beta of 1.54. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The business has a 50 day moving average price of $200.27. WEX has a 1 year low of $131.35 and a 1 year high of $212.13.
WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.19. WEX had a return on equity of 17.88% and a net margin of 8.84%. The company had revenue of $381.90 million during the quarter, compared to analysts’ expectations of $379.57 million. During the same quarter in the previous year, the business earned $1.81 EPS. WEX’s revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts expect that WEX will post 8.62 EPS for the current fiscal year.
In related news, insider Hilary A. Rapkin sold 1,404 shares of WEX stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $205.00, for a total transaction of $287,820.00. Following the completion of the transaction, the insider now directly owns 13,718 shares in the company, valued at approximately $2,812,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Melissa D. Smith sold 5,000 shares of WEX stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $200.00, for a total value of $1,000,000.00. Following the transaction, the chief executive officer now owns 75,783 shares of the company’s stock, valued at $15,156,600. The disclosure for this sale can be found here. Insiders have sold a total of 54,267 shares of company stock valued at $10,935,178 over the last 90 days. Insiders own 1.12% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Ffcm LLC raised its position in shares of WEX by 50.0% during the 4th quarter. Ffcm LLC now owns 210 shares of the business services provider’s stock worth $29,000 after purchasing an additional 70 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in WEX by 20.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 302 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 52 shares during the last quarter. Advisory Services Network LLC raised its holdings in WEX by 79.2% in the 4th quarter. Advisory Services Network LLC now owns 405 shares of the business services provider’s stock valued at $57,000 after acquiring an additional 179 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in WEX in the 1st quarter valued at $96,000. Finally, Tortoise Index Solutions LLC acquired a new position in WEX in the 1st quarter valued at $121,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.
WEX Company Profile
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.
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