WEX (NYSE:WEX) PT Raised to $280.00

WEX (NYSE:WEX) had its price target raised by Citigroup from $240.00 to $280.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Citigroup’s target price would indicate a potential upside of 21.57% from the company’s previous close.

A number of other analysts have also recently commented on WEX. Jefferies Financial Group upped their price target on shares of WEX from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Mizuho upped their price target on shares of WEX from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. StockNews.com cut shares of WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Robert W. Baird increased their target price on shares of WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, William Blair reiterated an “outperform” rating on shares of WEX in a research note on Thursday, February 8th. Seven 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $240.00.

WEX Stock Performance

Shares of WEX stock traded down $3.20 on Wednesday, reaching $230.32. 159,809 shares of the company traded hands, compared to its average volume of 297,747. The firm has a market capitalization of $9.61 billion, a PE ratio of 37.38, a PEG ratio of 1.51 and a beta of 1.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50 day moving average of $228.29 and a 200 day moving average of $201.62. WEX has a 52 week low of $161.95 and a 52 week high of $244.04.

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

Insider Activity

In other news, CEO Melissa D. Smith sold 41,107 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the sale, the chief executive officer now owns 81,998 shares in the company, valued at approximately $16,809,590. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Melissa D. Smith sold 41,107 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the transaction, 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 available through the SEC website. Also, CFO Jagtar Narula sold 309 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total transaction of $72,071.16. Following the transaction, the chief financial officer now directly owns 5,528 shares in the company, valued at approximately $1,289,350.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,433 shares of company stock worth $14,708,896. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WEX

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC lifted its position in WEX by 15.6% during the 4th quarter. CWM LLC now owns 377 shares of the business services provider’s stock valued at $73,000 after acquiring an additional 51 shares during the period. Townsquare Capital LLC lifted its position in WEX by 1.8% during the 4th quarter. Townsquare Capital LLC now owns 2,945 shares of the business services provider’s stock valued at $482,000 after acquiring an additional 51 shares during the period. Raymond James Trust N.A. lifted its position in WEX by 2.2% during the 2nd quarter. Raymond James Trust N.A. now owns 2,502 shares of the business services provider’s stock valued at $455,000 after acquiring an additional 53 shares during the period. VisionPoint Advisory Group LLC lifted its position in WEX by 74.7% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 62 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in WEX by 4.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,733 shares of the business services provider’s stock valued at $337,000 after acquiring an additional 72 shares during the period. Institutional investors own 97.47% of the company’s stock.

WEX Company Profile

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.