WEX (NYSE:WEX - Get Free Report) had its price objective upped by Wells Fargo & Company from $190.00 to $200.00 in a report released on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the business services provider's stock. Wells Fargo & Company's target price suggests a potential downside of 6.27% from the stock's current price.
A number of other research firms have also recently weighed in on WEX. Jefferies Financial Group upped their price target on WEX from $190.00 to $210.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods cut their price objective on WEX from $275.00 to $230.00 and set an "outperform" rating on the stock in a research note on Monday, July 8th. William Blair raised shares of WEX to a "strong-buy" rating in a report on Friday, July 26th. Bank of America increased their target price on WEX from $238.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. decreased their price objective on WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a report on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $239.17.
View Our Latest Analysis on WEX
WEX stock traded down $3.25 on Monday, reaching $213.37. The company had a trading volume of 59,699 shares, compared to its average volume of 339,660. The company's fifty day moving average is $197.36 and its 200 day moving average is $195.37. The company has a market cap of $8.77 billion, a P/E ratio of 36.92, a PEG ratio of 1.22 and a beta of 1.55. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. WEX has a 1 year low of $161.95 and a 1 year high of $244.04.
WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) for the quarter, topping 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 business had revenue of $673.50 million for the quarter, compared to analysts' expectations of $677.44 million. On average, research analysts forecast that WEX will post 13.68 earnings per share for the current year.
In other news, CFO Jagtar Narula sold 508 shares of the company's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other WEX news, CFO Jagtar Narula sold 508 shares of the firm's stock in a transaction on 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Melanie J. Tinto sold 1,564 shares of WEX stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the completion of the transaction, the insider now owns 8,461 shares of the company's stock, valued at $1,565,623.44. The trade was a 0.00 % decrease in their position. 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 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of WEX. Wealth Enhancement Advisory Services LLC lifted its stake in shares of WEX by 96.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,596 shares of the business services provider's stock valued at $1,804,000 after buying an additional 3,722 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in WEX by 44.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 51,422 shares of the business services provider's stock worth $12,214,000 after buying an additional 15,884 shares during the period. State of Michigan Retirement System increased its holdings in WEX by 1.9% in the first quarter. State of Michigan Retirement System now owns 10,475 shares of the business services provider's stock valued at $2,488,000 after buying an additional 200 shares during the last quarter. Norden Group LLC acquired a new stake in WEX during the first quarter worth approximately $279,000. Finally, Principal Financial Group Inc. grew its stake in WEX by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 161,266 shares of the business services provider's stock worth $38,306,000 after buying an additional 3,532 shares during the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.
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.
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