WEX (NYSE:WEX) Price Target Raised to $135.00

WEX (NYSE:WEX - Free Report) had its target price raised by Jefferies Financial Group from $130.00 to $135.00 in a report released on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the business services provider's stock.

Several other equities analysts have also commented on WEX. Keefe, Bruyette & Woods lowered their price objective on shares of WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Mizuho decreased their price objective on WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Wells Fargo & Company cut their price target on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Bank of America downgraded shares of WEX from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. Finally, William Blair reiterated a "market perform" rating on shares of WEX in a report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, WEX presently has a consensus rating of "Hold" and an average target price of $176.90.

WEX Price Performance

WEX stock traded up $0.09 during midday trading on Tuesday, reaching $136.66. 6,105 shares of the stock were exchanged, compared to its average volume of 814,703. WEX has a 52 week low of $110.45 and a 52 week high of $217.47. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The firm has a market cap of $4.68 billion, a PE ratio of 18.21, a PEG ratio of 2.06 and a beta of 1.26. The company's fifty day moving average is $133.56 and its 200-day moving average is $158.32.

WEX (NYSE:WEX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.11. The firm had revenue of $636.60 million for the quarter, compared to analyst estimates of $631.42 million. WEX had a net margin of 11.78% and a return on equity of 32.35%. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.46 EPS. On average, sell-side analysts forecast that WEX will post 14.09 EPS for the current year.

Institutional Investors Weigh In On WEX

A number of large investors have recently added to or reduced their stakes in WEX. CIBC Asset Management Inc raised its position in shares of WEX by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider's stock worth $225,000 after buying an additional 65 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in WEX by 25.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock valued at $56,000 after acquiring an additional 66 shares during the last quarter. Xponance Inc. raised its holdings in WEX by 1.4% in the 4th quarter. Xponance Inc. now owns 4,864 shares of the business services provider's stock worth $853,000 after acquiring an additional 68 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its position in WEX by 0.6% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider's stock worth $1,959,000 after acquiring an additional 70 shares during the period. Finally, Truvestments Capital LLC increased its holdings in WEX by 4.9% in the 4th quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider's stock valued at $296,000 after buying an additional 78 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.