WEX (NYSE:WEX) Stock Price Target Raised at UBS Group

Key Points

• UBS raised WEX’s price target from $180 to $195 while maintaining a “neutral” rating, implying approximately 5.6% upside. MarketBeat’s analyst consensus remains “Hold,” with an average target of $191.10.
• WEX reported quarterly results above expectations, with EPS of $6.13 versus the $5.68 consensus and revenue of $780.1 million, up 12.8% year over year.
• WEX shares opened at $184.69, while insiders sold roughly $6.56 million worth of stock during the last quarter; institutional investors own 97.47% of the company.

WEX (NYSE:WEX - Get Free Report) had its target price hoisted by equities researchers at UBS Group from $180.00 to $195.00 in a report released on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the business services provider's stock. UBS Group's target price would suggest a potential upside of 5.58% from the company's current price.

A number of other equities analysts have also recently commented on WEX. Keefe, Bruyette & Woods boosted their price target on WEX from $200.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Morgan Stanley raised their price target on shares of WEX from $172.00 to $178.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 27th. Piper Sandler initiated coverage on shares of WEX in a report on Thursday, September 10th. They set a "neutral" rating and a $209.00 price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of WEX in a research note on Thursday, September 24th. Finally, Mizuho raised their price objective on WEX from $170.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, WEX presently has a consensus rating of "Hold" and an average target price of $191.10.

WEX Price Performance

Shares of NYSE WEX 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. WEX has a fifty-two week low of $125.29 and a fifty-two week high of $203.99. The stock has a market capitalization of $6.07 billion, a PE ratio of 15.89, a P/E/G ratio of 0.94 and a beta of 0.93. The business has a fifty day moving average price of $186.09 and a two-hundred day moving average price of $164.54.

WEX (NYSE:WEX - Get Free Report) last issued its earnings results on Wednesday, October 28th. The business services provider reported $6.13 EPS for the quarter, beating the consensus estimate of $5.68 by $0.45. WEX had a net margin of 14.05% and a return on equity of 45.74%. The company had revenue of $780.10 million during the quarter, compared to analysts' expectations of $749.74 million. During the same period in the previous year, the company earned $4.59 EPS. The business's revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that WEX will post 17.32 earnings per share for the current fiscal year.

Insider Buying and Selling at WEX

In other news, COO Joel Dearborn, Jr. sold 3,343 shares of the firm's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $200.00, for a total transaction of $668,600.00. Following the completion of the transaction, the chief operating officer owned 17,021 shares of the company's stock, valued at approximately $3,404,200. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Melissa Smith sold 28,109 shares of WEX stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $190.09, for a total transaction of $5,343,239.81. Following the transaction, the chief executive officer owned 126,625 shares in the company, valued at approximately $24,070,146.25. This trade represents a 18.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 34,527 shares of company stock valued at $6,558,910. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On WEX

A number of institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new position in shares of WEX in the third quarter worth approximately $25,000. Global Retirement Partners LLC acquired a new position in shares of WEX in the 2nd quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of WEX in the 2nd quarter worth approximately $41,000. Covestor Ltd boosted its stake in shares of WEX by 97.8% in the 3rd quarter. Covestor Ltd now owns 267 shares of the business services provider's stock valued at $45,000 after purchasing an additional 132 shares during the last quarter. Finally, Reyes Financial Architecture Inc. bought a new stake in shares of WEX in the 3rd quarter valued at $47,000. Institutional investors own 97.47% of the company's stock.

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.

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