WEX (NYSE:WEX) PT Raised to $280.00 at Barclays

WEX (NYSE:WEX - Get Free Report) had its target price boosted by investment analysts at Barclays from $255.00 to $280.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the business services provider's stock. Barclays's target price indicates a potential upside of 19.93% from the company's current price.

Other analysts have also recently issued reports about the company. Mizuho boosted their price target on WEX from $225.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, February 13th. Evercore ISI boosted their price target on WEX from $250.00 to $275.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 26th. StockNews.com cut WEX from a "buy" rating to a "hold" rating in a research report on Tuesday, March 26th. Robert W. Baird upped their price objective on WEX from $272.00 to $285.00 and gave the company an "outperform" rating in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price objective on WEX from $205.00 to $239.00 and gave the company a "neutral" rating in a research report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, WEX has an average rating of "Moderate Buy" and a consensus target price of $236.92.

WEX Stock Up 0.2 %

Shares of WEX stock traded up $0.53 during midday trading on Tuesday, reaching $233.47. 180,723 shares of the stock were exchanged, compared to its average volume of 299,788. WEX has a 1 year low of $161.95 and a 1 year high of $244.04. The company's 50 day moving average is $228.29 and its two-hundred day moving average is $201.62. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. The firm has a market cap of $9.75 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 1.53 and a beta of 1.59.

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

Insider Activity

In other news, CFO Jagtar Narula sold 309 shares of the company's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the completion of the sale, the chief financial officer now directly owns 5,528 shares in the company, valued at approximately $1,289,350.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other WEX news, CAO Jennifer Kimball sold 574 shares of the 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 completion of the sale, the chief accounting officer now owns 1,297 shares in the company, valued at approximately $288,245.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jagtar Narula sold 309 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total transaction of $72,071.16. Following the transaction, the chief financial officer now directly owns 5,528 shares of the company's stock, valued at approximately $1,289,350.72. The disclosure for this sale can be found here. Insiders have sold 69,433 shares of company stock valued at $14,708,896 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WEX. FinTrust Capital Advisors LLC bought a new position in shares of WEX in the 4th quarter valued at about $25,000. VisionPoint Advisory Group LLC lifted its holdings in shares of WEX by 74.7% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider's stock valued at $27,000 after acquiring an additional 62 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of WEX in the 4th quarter valued at about $27,000. Rise Advisors LLC bought a new position in shares of WEX in the 1st quarter valued at about $29,000. Finally, Principal Securities Inc. bought a new position in shares of WEX in the 4th quarter valued at about $31,000. Institutional investors own 97.47% of the company's stock.

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.