WEX (NYSE:WEX) Price Target Raised to $195.00

WEX (NYSE:WEX) had its price target lifted by UBS Group from $180.00 to $195.00 in a research report report published on Friday,Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

Several other research firms have also recently issued reports on WEX. Mizuho raised their price target on WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Keefe, Bruyette & Woods upped their target price on shares of WEX from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings raised shares of WEX from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of WEX in a research note on Thursday, September 24th. Finally, Evercore upgraded shares of WEX to an “outperform” rating in a report on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $191.10.

WEX Stock Performance

Shares of WEX stock opened at $184.69 on Friday. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $186.09 and a 200 day simple moving average of $164.54. WEX has a fifty-two week low of $125.29 and a fifty-two week high of $203.99. The firm has a market cap of $6.07 billion, a P/E ratio of 15.89, a P/E/G ratio of 0.94 and a beta of 0.93.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, October 28th. The business services provider reported $6.13 EPS for the quarter, beating analysts’ consensus estimates of $5.68 by $0.45. The firm had revenue of $780.10 million for the quarter, compared to analyst estimates of $749.74 million. WEX had a return on equity of 45.74% and a net margin of 14.05%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $4.59 EPS. Sell-side analysts predict that WEX will post 17.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Carlos Carriedo sold 1,075 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $186.00, for a total value of $199,950.00. Following the completion of the sale, the chief operating officer directly owned 11,076 shares of the company’s stock, valued at $2,060,136. This represents a 8.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Melissa Smith sold 28,109 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $190.09, for a total transaction of $5,343,239.81. Following the completion of the sale, the chief executive officer owned 126,625 shares in the company, valued at $24,070,146.25. This represents a 18.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 34,527 shares of company stock valued at $6,558,910 over the last 90 days. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WEX

A number of hedge funds and other institutional investors have recently made changes to their positions in WEX. WINTON GROUP Ltd acquired a new stake in WEX during the 2nd quarter worth $4,982,000. Coppell Advisory Solutions LLC acquired a new stake in shares of WEX during the second quarter worth about $845,000. Corient Private Wealth LP bought a new position in shares of WEX during the 2nd quarter valued at about $3,795,000. Bank of America Corp DE acquired a new position in shares of WEX in the 2nd quarter valued at approximately $115,086,000. Finally, Palisade Capital Management LP acquired a new position in shares of WEX in the 2nd quarter valued at approximately $1,780,000. 97.47% of the stock is owned by institutional investors.

About WEX

WEX Inc (NYSE:WEX) is a financial technology company that provides payment-processing and business-management solutions. Its products are designed to help organizations manage corporate spending, employee benefits and mobility-related expenses through specialized payment accounts, software and data tools.

WEX’s mobility business serves commercial vehicle fleets with fuel cards, fleet-payment programs, expense controls, telematics integrations and related solutions. The company also supports emerging mobility needs, including electric-vehicle charging payments.