JPMorgan Chase & Co. Increases WEX (NYSE:WEX) Price Target to $239.00

WEX (NYSE:WEXFree Report) had its target price boosted by JPMorgan Chase & Co. from $205.00 to $239.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Several other equities research analysts have also issued reports on WEX. StockNews.com lowered shares of WEX from a buy rating to a hold rating in a report on Saturday, October 21st. Barclays reduced their target price on shares of WEX from $245.00 to $225.00 and set an overweight rating for the company in a report on Monday, October 30th. Mizuho increased their target price on shares of WEX from $200.00 to $225.00 and gave the stock a buy rating in a report on Thursday, January 18th. TheStreet lowered shares of WEX from a b- rating to a c rating in a report on Thursday, October 26th. Finally, Morgan Stanley dropped their price target on WEX from $205.00 to $200.00 and set an equal weight rating for the company in a research note on Friday, October 27th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $226.25.

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WEX Price Performance

NYSE WEX opened at $210.60 on Friday. WEX has a 52 week low of $161.95 and a 52 week high of $213.61. The firm has a market capitalization of $9.00 billion, a P/E ratio of 34.19, a PEG 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. The company has a 50-day moving average price of $196.64 and a 200-day moving average price of $189.89.

Insider Activity

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

Institutional Trading of WEX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Duality Advisers LP purchased a new stake in WEX in the second quarter worth $256,000. Burney Co. increased its stake in shares of WEX by 131.1% during the third quarter. Burney Co. now owns 21,120 shares of the business services provider’s stock valued at $3,972,000 after buying an additional 11,983 shares during the period. Bank of Montreal Can purchased a new position in shares of WEX during the second quarter valued at $1,569,000. Fosun International Ltd purchased a new position in shares of WEX during the third quarter valued at $597,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of WEX during the second quarter valued at $260,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

About WEX

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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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