WEX (NYSE:WEX – Get Rating) had its price target lowered by equities researchers at Truist Financial from $215.00 to $185.00 in a research report issued on Thursday, The Fly reports. Truist Financial’s price target points to a potential upside of 6.59% from the company’s current price.
WEX has been the subject of several other research reports. TheStreet upgraded shares of WEX from a “c” rating to a “b-” rating in a research report on Thursday, February 9th. Morgan Stanley upped their price target on shares of WEX from $157.00 to $199.00 and gave the stock an “equal weight” rating in a research note on Friday, February 10th. Mizuho lifted their price objective on WEX from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 10th. Citigroup upped their target price on WEX from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, February 13th. Finally, StockNews.com assumed coverage on WEX in a research note on Thursday. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.36.
WEX Stock Down 1.9 %
Shares of NYSE:WEX opened at $173.56 on Thursday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $7.49 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 1.85 and a beta of 1.59. WEX has a 52 week low of $125.00 and a 52 week high of $204.05. The firm has a 50 day simple moving average of $184.97 and a 200 day simple moving average of $164.50.
Insider Buying and Selling
In other WEX news, insider Hilary A. Rapkin sold 5,270 shares of WEX stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $175.00, for a total value of $922,250.00. Following the transaction, the insider now directly owns 12,203 shares of the company’s stock, valued at approximately $2,135,525. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Hilary A. Rapkin sold 5,270 shares of the business’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $175.00, for a total transaction of $922,250.00. Following the transaction, the insider now owns 12,203 shares of the company’s stock, valued at $2,135,525. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert Joseph Deshaies sold 1,000 shares of the stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $199.19, for a total transaction of $199,190.00. Following the completion of the sale, the chief operating officer now directly owns 7,537 shares of the company’s stock, valued at $1,501,295.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,634 shares of company stock valued at $5,126,036. Insiders own 1.00% of the company’s stock.
Institutional Trading of WEX
Hedge funds and other institutional investors have recently bought and sold shares of the stock. FinTrust Capital Advisors LLC acquired a new stake in WEX in the 4th quarter worth $25,000. National Bank of Canada FI acquired a new stake in WEX in the 4th quarter worth $26,000. Lindbrook Capital LLC grew its position in WEX by 85.6% in the 4th quarter. Lindbrook Capital LLC now owns 167 shares of the business services provider’s stock worth $27,000 after purchasing an additional 77 shares during the last quarter. Signaturefd LLC grew its position in WEX by 70.2% in the 4th quarter. Signaturefd LLC now owns 223 shares of the business services provider’s stock worth $36,000 after purchasing an additional 92 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of WEX during the 1st quarter valued at about $44,000. 98.65% of the stock is currently owned by institutional investors and hedge funds.
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.