WEX (NYSE:WEX – Get Rating) had its price objective decreased by Barclays from $213.00 to $209.00 in a report published on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the business services provider's stock.
Other research analysts have also recently issued research reports about the company. Truist Financial increased their price objective on WEX from $170.00 to $190.00 and gave the stock a hold rating in a research report on Friday, January 20th. StockNews.com assumed coverage on WEX in a research report on Wednesday, October 12th. They set a hold rating on the stock. Robert W. Baird increased their price objective on WEX from $170.00 to $180.00 in a research report on Friday, October 28th. Wells Fargo & Company raised their price target on WEX from $185.00 to $193.00 and gave the stock an overweight rating in a research report on Monday, January 9th. Finally, Bank of America decreased their price target on WEX from $225.00 to $180.00 and set a buy rating on the stock in a research report on Thursday, October 20th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $194.08.
Get WEX alerts:WEX Trading Up 0.8 %
Shares of WEX stock opened at $182.01 on Monday. The business has a fifty day simple moving average of $166.74 and a two-hundred day simple moving average of $158.67. WEX has a 1 year low of $125.00 and a 1 year high of $183.49. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 82.36, a P/E/G ratio of 0.76 and a beta of 1.59. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.12 and a quick ratio of 1.12.
WEX (NYSE:WEX – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The business services provider reported $3.01 earnings per share for the quarter, missing the consensus estimate of $3.12 by ($0.11). The firm had revenue of $616.13 million for the quarter, compared to the consensus estimate of $590.54 million. WEX had a return on equity of 27.73% and a net margin of 4.53%. Research analysts forecast that WEX will post 11.61 EPS for the current year.Insider Buying and Selling at WEX
In other WEX news, insider Hilary A. Rapkin sold 5,270 shares of WEX stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $175.00, for a total value of $922,250.00. Following the transaction, the insider now owns 12,203 shares in the company, valued at $2,135,525. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director James R. Groch purchased 1,400 shares of the business's stock in a transaction dated Thursday, November 3rd. The shares were purchased at an average cost of $151.25 per share, with a total value of $211,750.00. Following the completion of the purchase, the director now owns 8,465 shares of the company's stock, valued at approximately $1,280,331.25. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Hilary A. Rapkin sold 5,270 shares of WEX stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $175.00, for a total value of $922,250.00. Following the sale, the insider now directly owns 12,203 shares in the company, valued at $2,135,525. The disclosure for this sale can be found here. Insiders have sold a total of 12,426 shares of company stock worth $2,102,480 over the last 90 days. Insiders own 1.00% of the company's stock.
Hedge Funds Weigh In On WEX
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. River Road Asset Management LLC acquired a new position in WEX in the third quarter valued at approximately $25,250,000. Wellington Management Group LLP increased its holdings in shares of WEX by 4.2% during the first quarter. Wellington Management Group LLP now owns 4,101,566 shares of the business services provider's stock valued at $731,925,000 after acquiring an additional 164,902 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of WEX by 3.2% during the first quarter. Vanguard Group Inc. now owns 4,196,239 shares of the business services provider's stock valued at $748,819,000 after acquiring an additional 131,664 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of WEX by 35.2% during the second quarter. Jennison Associates LLC now owns 417,765 shares of the business services provider's stock valued at $64,988,000 after acquiring an additional 108,858 shares in the last quarter. Finally, Twinbeech Capital LP bought a new stake in WEX during the third quarter worth $9,288,000. 98.65% of the stock is owned by institutional investors and hedge funds.
About WEX
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WEX Inc provides financial technology services in the United States and internationally. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.
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