WEX (NYSE:WEX) Price Target Raised to $255.00

WEX (NYSE:WEXGet Free Report) had its price objective increased by investment analysts at Barclays from $240.00 to $255.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Barclays‘s price target would indicate a potential upside of 22.02% from the company’s current price.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. boosted their price target on WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research note on Friday. Truist Financial upped their target price on WEX from $185.00 to $220.00 and gave the stock a “hold” rating in a research report on Friday. StockNews.com raised WEX from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley lowered their target price on WEX from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Friday, October 27th. Finally, Wolfe Research raised WEX from a “peer perform” rating to an “outperform” rating and set a $240.00 price target for the company in a research report on Tuesday, October 17th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $226.25.

Get Our Latest Report on WEX

WEX Trading Down 1.5 %

Shares of WEX stock traded down $3.15 during mid-day trading on Monday, reaching $208.99. 188,475 shares of the stock traded hands, compared to its average volume of 357,856. The stock’s fifty day simple moving average is $196.04 and its two-hundred day simple moving average is $189.75. WEX has a 1-year low of $161.95 and a 1-year high of $213.61. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 1.55.

Insider Buying and Selling

In related news, Director Jack Vanwoerkom sold 2,000 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $174.38, for a total transaction of $348,760.00. Following the sale, the director now owns 8,319 shares of the company’s stock, valued at approximately $1,450,667.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other WEX news, CEO Melissa D. Smith sold 41,107 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $205.00, for a total value of $8,426,935.00. Following the sale, the chief executive officer now owns 81,998 shares of the company’s stock, valued at approximately $16,809,590. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jack Vanwoerkom sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $174.38, for a total value of $348,760.00. Following the transaction, the director now directly owns 8,319 shares in the company, valued at $1,450,667.22. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WEX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley raised its stake in shares of WEX by 342.4% in the fourth quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock worth $337,102,000 after purchasing an additional 1,594,294 shares during the last quarter. Norges Bank bought a new position in shares of WEX in the fourth quarter worth about $89,745,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of WEX by 40.6% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 598,641 shares of the business services provider’s stock worth $108,024,000 after acquiring an additional 172,805 shares during the period. Wellington Management Group LLP lifted its position in shares of WEX by 4.2% in the first quarter. Wellington Management Group LLP now owns 4,101,566 shares of the business services provider’s stock worth $731,925,000 after buying an additional 164,902 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of WEX by 2,524.0% in the fourth quarter. Handelsbanken Fonder AB now owns 163,844 shares of the business services provider’s stock worth $31,876,000 after buying an additional 157,600 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

About WEX

(Get Free Report)

WEX Inc operates a commerce platform in the United States and internationally. The Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account 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 tools to fleets to manage expenses and capital requirements.

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Analyst Recommendations for WEX (NYSE:WEX)

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