Evercore ISI Increases WEX (NYSE:WEX) Price Target to $275.00

WEX (NYSE:WEX) had its price objective hoisted by Evercore ISI from $250.00 to $275.00 in a research note released on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the business services provider’s stock.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. lifted their price objective on WEX from $205.00 to $239.00 and gave the company a neutral rating in a report on Friday, February 9th. Truist Financial lifted their price target on WEX from $185.00 to $220.00 and gave the company a hold rating in a research note on Friday, February 9th. StockNews.com lowered WEX from a buy rating to a hold rating in a research note on Tuesday. William Blair reiterated an outperform rating on shares of WEX in a research note on Thursday, February 8th. Finally, Mizuho lifted their price target on WEX from $225.00 to $235.00 and gave the company a buy rating in a research note on Tuesday, February 13th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $230.77.

WEX Price Performance

Shares of NYSE WEX opened at $237.53 on Tuesday. The stock has a market capitalization of $9.91 billion, a PE ratio of 38.56, a P/E/G ratio of 1.52 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 business has a fifty day moving average price of $220.30 and a two-hundred day moving average price of $198.23. WEX has a fifty-two week low of $161.95 and a fifty-two week high of $239.18.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.29 by ($0.15). The company had revenue of $663.30 million during the quarter, compared to analyst estimates of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. As a group, equities analysts predict that WEX will post 13.51 earnings per share for the current fiscal year.

Insider Buying and Selling at WEX

In other WEX news, SVP Sara Trickett sold 887 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other WEX news, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the sale, the chief financial officer now owns 5,528 shares in the company, valued at approximately $1,289,350.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $199,229.07. 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. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of WEX by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock valued at $816,919,000 after purchasing an additional 67,893 shares during the period. BlackRock Inc. lifted its stake in shares of WEX by 1.2% in 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. Wellington Management Group LLP lifted its stake in shares of WEX by 4.2% in the 1st quarter. Wellington Management Group LLP now owns 4,101,566 shares of the business services provider’s stock valued at $731,925,000 after purchasing an additional 164,902 shares during the period. Morgan Stanley lifted its stake in shares of WEX by 342.4% in the 4th quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock valued at $337,102,000 after purchasing an additional 1,594,294 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of WEX by 3.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,336,884 shares of the business services provider’s stock valued at $245,840,000 after purchasing an additional 39,312 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.

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.