WEX (NYSE:WEX – Get Rating) had its target price dropped by analysts at Barclays from $232.00 to $217.00 in a report issued on Tuesday, The Fly reports. Barclays’s price objective would suggest a potential upside of 35.24% from the stock’s current price.
Several other equities analysts have also weighed in on WEX. Wells Fargo & Company began coverage on shares of WEX in a report on Monday, April 4th. They set an “overweight” rating and a $205.00 target price for the company. Jefferies Financial Group began coverage on shares of WEX in a report on Thursday, March 24th. They set a “hold” rating and a $180.00 target price for the company. StockNews.com began coverage on shares of WEX in a report on Thursday, March 31st. They set a “hold” rating for the company. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 target price on shares of WEX in a report on Thursday, June 2nd. Finally, Citigroup raised shares of WEX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $190.00 to $210.00 in a report on Thursday, June 9th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.38.
WEX Stock Up 0.9 %
NYSE:WEX opened at $160.46 on Tuesday. WEX has a fifty-two week low of $123.01 and a fifty-two week high of $208.38. The stock has a market capitalization of $7.22 billion, a P/E ratio of 58.14, a P/E/G ratio of 0.78 and a beta of 1.59. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.21 and a current ratio of 1.21. The company’s 50-day simple moving average is $160.23 and its 200-day simple moving average is $162.98.
WEX (NYSE:WEX – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. The company had revenue of $517.54 million during the quarter, compared to analyst estimates of $507.87 million. WEX had a net margin of 6.41% and a return on equity of 21.38%. WEX’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period last year, the firm posted $1.47 EPS. On average, equities analysts anticipate that WEX will post 11.44 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, COO Robert Joseph Deshaies sold 1,000 shares of the business’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $165.00, for a total transaction of $165,000.00. Following the transaction, the chief operating officer now owns 9,555 shares of the company’s stock, valued at approximately $1,576,575. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Robert Joseph Deshaies sold 1,000 shares of the business’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $165.00, for a total transaction of $165,000.00. Following the transaction, the chief operating officer now owns 9,555 shares of the company’s stock, valued at approximately $1,576,575. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Melanie J. Tinto sold 782 shares of the business’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $172.22, for a total transaction of $134,676.04. Following the transaction, the insider now directly owns 6,751 shares in the company, valued at approximately $1,162,657.22. The disclosure for this sale can be found here. Insiders have sold a total of 3,501 shares of company stock valued at $593,780 in the last 90 days. 1.00% of the stock is owned by insiders.
Institutional Trading of WEX
Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC increased its stake in WEX by 276.7% during the first quarter. CWM LLC now owns 162 shares of the business services provider’s stock worth $29,000 after purchasing an additional 119 shares during the period. Core Alternative Capital purchased a new stake in shares of WEX during the first quarter worth approximately $31,000. CVA Family Office LLC purchased a new stake in shares of WEX during the fourth quarter worth approximately $32,000. Fifth Third Bancorp boosted its holdings in WEX by 38.4% in the fourth quarter. Fifth Third Bancorp now owns 227 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 63 shares in the last quarter. Finally, Charter Oak Capital Management LLC boosted its holdings in WEX by 294.1% in the fourth quarter. Charter Oak Capital Management LLC now owns 268 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. 98.23% of the stock is currently owned by hedge funds and other institutional investors.
About WEX
WEX Inc provides financial technology services in the United States and internationally. 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. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.