WEX (NYSE:WEX) Given New $240.00 Price Target at Jefferies Financial Group

WEX (NYSE:WEX) had its price target lifted by Jefferies Financial Group from $235.00 to $240.00 in a research note published on Friday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the business services provider’s stock.

Several other equities analysts have also recently commented on WEX. JPMorgan Chase & Co. increased their target price on WEX from $205.00 to $239.00 and gave the company a neutral rating in a research note on Friday, February 9th. Evercore ISI increased their target price on WEX from $250.00 to $275.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. StockNews.com cut WEX from a buy rating to a hold rating in a research note on Tuesday, March 26th. William Blair reiterated an outperform rating on shares of WEX in a research note on Thursday, February 8th. Finally, Truist Financial increased their target price on WEX from $185.00 to $220.00 and gave the company a hold rating in a research note on Friday, February 9th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $235.00.

WEX Stock Down 1.2 %

Shares of NYSE:WEX opened at $232.98 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55. WEX has a 52-week low of $161.95 and a 52-week high of $244.04. The company has a 50 day moving average of $227.61 and a two-hundred day moving average of $201.30. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 1.53 and a beta of 1.59.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share (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 firm had revenue of $663.30 million during the quarter, compared to analyst estimates of $656.75 million. As a group, analysts forecast that WEX will post 13.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other WEX news, CAO Jennifer Kimball sold 574 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $222.24, for a total value of $127,565.76. Following the sale, the chief accounting officer now directly owns 1,297 shares in the company, valued at $288,245.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other WEX news, CAO Jennifer Kimball sold 574 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $222.24, for a total value of $127,565.76. Following the sale, the chief accounting officer now directly owns 1,297 shares in the company, valued at $288,245.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $8,426,935.00. Following the completion of the sale, the chief executive officer now owns 81,998 shares in the company, valued at $16,809,590. The disclosure for this sale can be found here. Insiders have sold 69,433 shares of company stock worth $14,708,896 over the last ninety days. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On WEX

Hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of WEX by 111.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider’s stock valued at $170,000 after purchasing an additional 500 shares during the period. Bank of Montreal Can increased its holdings in shares of WEX by 8.1% during the first quarter. Bank of Montreal Can now owns 4,181 shares of the business services provider’s stock valued at $732,000 after purchasing an additional 315 shares during the period. BlackRock Inc. increased its holdings in shares of WEX by 1.2% during the first 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 increased its holdings in shares of WEX by 8.1% during the first quarter. Great West Life Assurance Co. Can now owns 24,375 shares of the business services provider’s stock valued at $4,471,000 after purchasing an additional 1,824 shares during the period. Finally, Sei Investments Co. increased 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 purchasing an additional 5,884 shares during the period. 97.47% of the stock is currently owned by institutional investors.

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.