WEX (NYSE:WEX) Price Target Raised to $280.00

WEX (NYSE:WEX - Free Report) had its price target hoisted by Citigroup from $240.00 to $280.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the business services provider's stock.

Several other analysts have also recently issued reports on the company. Truist Financial upped their price objective on WEX from $185.00 to $220.00 and gave the company a hold rating in a research note on Friday, February 9th. William Blair reaffirmed an outperform rating on shares of WEX in a report on Thursday, February 8th. Robert W. Baird boosted their target price on shares of WEX from $272.00 to $285.00 and gave the company an outperform rating in a research note on Monday. Barclays raised their price target on shares of WEX from $255.00 to $280.00 and gave the stock an overweight rating in a research report on Tuesday. Finally, TheStreet raised shares of WEX from a c rating to a b rating in a research report on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, WEX presently has a consensus rating of Moderate Buy and a consensus price target of $240.00.

WEX Stock Down 1.6 %

Shares of WEX stock traded down $3.67 during mid-day trading on Wednesday, reaching $229.85. 256,447 shares of the company were exchanged, compared to its average volume of 299,202. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.05 and a current ratio of 1.05. The business's 50 day simple moving average is $228.84 and its 200 day simple moving average is $201.82. The company has a market capitalization of $9.59 billion, a P/E ratio of 37.31, a P/E/G ratio of 1.51 and a beta of 1.59. WEX has a fifty-two week low of $161.95 and a fifty-two week high of $244.04.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.29 by ($0.15). The company had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. WEX had a return on equity of 31.33% and a net margin of 10.46%. Research analysts predict that WEX will post 13.55 earnings per share for the current year.

Insider Buying and Selling at WEX

In other news, CEO Melissa D. Smith sold 41,107 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $205.00, for a total value of $8,426,935.00. Following the completion of the transaction, the chief executive officer now owns 81,998 shares of the company's stock, valued at $16,809,590. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Jennifer Kimball sold 574 shares of the business's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $222.24, for a total transaction of $127,565.76. Following the sale, the chief accounting officer now owns 1,297 shares of the company's stock, valued at $288,245.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Melissa D. Smith sold 41,107 shares of the company's stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $205.00, for a total value of $8,426,935.00. Following the completion of the sale, the chief executive officer now owns 81,998 shares of the company's stock, valued at $16,809,590. 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 quarter. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of WEX

Hedge funds and other institutional investors have recently modified their holdings of the company. Rise Advisors LLC bought a new position in WEX during the first quarter valued at about $29,000. GAMMA Investing LLC acquired a new stake in WEX in the 4th quarter valued at about $27,000. VisionPoint Advisory Group LLC boosted its position in shares of WEX by 74.7% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider's stock valued at $27,000 after purchasing an additional 62 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new position in shares of WEX in the 4th quarter worth approximately $25,000. Finally, Principal Securities Inc. bought a new stake in shares of WEX in the 4th quarter worth approximately $31,000. 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.