Jefferies Financial Group Raises WEX (NYSE:WEX) Price Target to $240.00

WEX (NYSE:WEX - Free Report) had its price objective lifted by Jefferies Financial Group from $235.00 to $240.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a hold rating on the business services provider's stock.

WEX has been the subject of several other reports. Truist Financial increased their price target on shares of WEX from $185.00 to $220.00 and gave the stock a hold rating in a research note on Friday, February 9th. JPMorgan Chase & Co. increased their price target on shares of WEX from $205.00 to $239.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Mizuho increased their price target on shares of WEX from $225.00 to $235.00 and gave the stock a buy rating in a research note on Tuesday, February 13th. Evercore ISI increased their price target on shares of WEX from $250.00 to $275.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Finally, William Blair restated an outperform rating on shares of WEX in a research note on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $234.23.

WEX Trading Down 1.8 %

NYSE WEX traded down $4.27 during trading on Friday, hitting $235.83. The company had a trading volume of 258,493 shares, compared to its average volume of 303,245. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. WEX has a one year low of $161.95 and a one year high of $244.04. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 1.56 and a beta of 1.59. The company's fifty day moving average is $226.36 and its 200-day moving average is $200.66.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a return on equity of 31.33% and a net margin of 10.46%. The company had revenue of $663.30 million during the quarter, compared to the consensus estimate of $656.75 million. On average, sell-side analysts predict that WEX will post 13.51 earnings per share for the current year.

Insider Activity

In other news, insider Ann Elena Drew sold 4,531 shares of the firm's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $218.03, for a total transaction of $987,893.93. Following the sale, the insider now owns 3,653 shares of the company's stock, valued at approximately $796,463.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Sara Trickett sold 887 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $224.61, for a total value of $199,229.07. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ann Elena Drew sold 4,531 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total transaction of $987,893.93. Following the completion of the transaction, the insider now directly owns 3,653 shares in the company, valued at approximately $796,463.59. The disclosure for this sale can be found here. Insiders have sold a total of 69,433 shares of company stock valued at $14,708,896 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WEX

Institutional investors and hedge funds have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC boosted its holdings in shares of WEX by 56.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 141,287 shares of the business services provider's stock worth $26,575,000 after buying an additional 50,771 shares during the last quarter. Burney Co. boosted its holdings in shares of WEX by 131.1% in the third quarter. Burney Co. now owns 21,120 shares of the business services provider's stock worth $3,972,000 after buying an additional 11,983 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of WEX by 65.5% in the third quarter. Deutsche Bank AG now owns 54,523 shares of the business services provider's stock worth $10,255,000 after buying an additional 21,578 shares during the last quarter. Comerica Bank purchased a new position in shares of WEX in the third quarter worth approximately $6,545,000. Finally, Vanguard Group Inc. raised its stake in WEX by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,131,124 shares of the business services provider's stock worth $777,023,000 after acquiring an additional 83,102 shares during the period. Hedge funds and other institutional investors own 97.47% of the company's stock.

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.