WEX (NYSE:WEX) Price Target Raised to $280.00

WEX (NYSE:WEX) had its price target increased by Barclays from $255.00 to $280.00 in a research report report published on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the business services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird boosted their target price on shares of WEX from $272.00 to $285.00 and gave the stock an outperform rating in a research report on Monday. StockNews.com downgraded WEX from a buy rating to a hold rating in a report on Tuesday, March 26th. Evercore ISI boosted their price target on WEX from $250.00 to $275.00 and gave the company an outperform rating in a report on Tuesday, March 26th. Mizuho raised their price objective on WEX from $225.00 to $235.00 and gave the stock a buy rating in a research note on Tuesday, February 13th. Finally, Truist Financial boosted their target price on shares of WEX from $185.00 to $220.00 and gave the company a hold rating in a research note on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $240.00.

WEX Trading Down 0.0 %

Shares of WEX opened at $229.84 on Tuesday. WEX has a one year low of $161.95 and a one year high of $244.04. The stock has a 50-day moving average price of $229.30 and a 200 day moving average price of $202.01. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.05 and a current ratio of 1.05. The company 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 (NYSE:WEX) last released its earnings results on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a net margin of 10.46% and a return on equity of 31.33%. The business had revenue of $663.30 million for the quarter, compared to analysts’ expectations of $656.75 million. Sell-side analysts forecast that WEX will post 13.55 EPS for the current fiscal year.

Insider Buying and Selling at WEX

In related news, insider Ann Elena Drew sold 4,531 shares of WEX stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $218.03, for a total transaction of $987,893.93. Following the sale, the insider now directly owns 3,653 shares in the company, valued at $796,463.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Melissa D. Smith sold 41,107 shares of the business’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ann Elena Drew sold 4,531 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $218.03, for a total value of $987,893.93. Following the transaction, the insider now directly owns 3,653 shares of the company’s stock, valued at approximately $796,463.59. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,433 shares of company stock worth $14,708,896. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of WEX by 111.1% in the first 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 grew its position in WEX by 8.1% during the 1st quarter. Bank of Montreal Can now owns 4,181 shares of the business services provider’s stock worth $732,000 after purchasing an additional 315 shares in the last quarter. BlackRock Inc. raised its stake in WEX by 1.2% during the 1st quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock valued at $732,950,000 after purchasing an additional 49,480 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of WEX by 8.1% in the first 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. grew its holdings in shares of WEX by 38.3% during the first quarter. Sei Investments Co. now owns 21,260 shares of the business services provider’s stock valued at $3,793,000 after buying an additional 5,884 shares in the last quarter. Institutional investors 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.