Robert W. Baird Raises WEX (NYSE:WEX) Price Target to $285.00

WEX (NYSE:WEX) had its target price increased by Robert W. Baird from $272.00 to $285.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

WEX has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price objective on shares of WEX from $205.00 to $239.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Truist Financial upped their price objective on shares of WEX from $185.00 to $220.00 and gave the stock a hold rating in a research note on Friday, February 9th. Barclays boosted their target price on shares of WEX from $240.00 to $255.00 and gave the stock an overweight rating in a report on Monday, February 12th. Jefferies Financial Group boosted their target price on shares of WEX from $235.00 to $240.00 and gave the stock a hold rating in a report on Friday, April 12th. Finally, William Blair reiterated an outperform rating on shares of WEX in a report on Thursday, February 8th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $240.00.

WEX Stock Down 1.6 %

Shares of WEX opened at $229.85 on Monday. The firm has a market capitalization of $9.59 billion, a P/E ratio of 37.31, a P/E/G ratio of 1.51 and a beta of 1.59. WEX has a 12-month low of $161.95 and a 12-month high of $244.04. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. The firm has a fifty day moving average price of $228.84 and a 200-day moving average price of $201.82.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a return on equity of 31.33% and a net margin of 10.46%. The business had revenue of $663.30 million during the quarter, compared to analysts’ expectations of $656.75 million. Equities research analysts expect that WEX will post 13.55 earnings per share for the current year.

Insider Activity

In other news, SVP Sara Trickett sold 887 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $224.61, for a total transaction of $199,229.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Sara Trickett sold 887 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $224.61, for a total transaction of $199,229.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ann Elena Drew sold 4,531 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total transaction of $987,893.93. Following the completion of the transaction, the insider now owns 3,653 shares in the company, valued at approximately $796,463.59. The disclosure for this sale can be found here. Insiders have sold a total of 69,433 shares of company stock worth $14,708,896 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WEX

Several hedge funds and other institutional investors have recently bought and sold shares of WEX. Mitsubishi UFJ Trust & Banking Corp increased its holdings in WEX by 111.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider’s stock worth $170,000 after buying an additional 500 shares during the period. Bank of Montreal Can increased its holdings in WEX by 8.1% in the 1st quarter. Bank of Montreal Can now owns 4,181 shares of the business services provider’s stock worth $732,000 after buying an additional 315 shares during the period. BlackRock Inc. increased its holdings in WEX by 1.2% in the 1st quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock worth $732,950,000 after buying an additional 49,480 shares during the period. Great West Life Assurance Co. Can increased its holdings in WEX by 8.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 24,375 shares of the business services provider’s stock worth $4,471,000 after buying an additional 1,824 shares during the period. Finally, Sei Investments Co. increased its holdings in WEX by 38.3% in the 1st quarter. Sei Investments Co. now owns 21,260 shares of the business services provider’s stock worth $3,793,000 after buying an additional 5,884 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

About WEX

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.