Evercore ISI Increases WEX (NYSE:WEX) Price Target to $275.00

WEX (NYSE:WEX) had its target price raised by Evercore ISI from $250.00 to $275.00 in a report published on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the business services provider’s stock.

Other analysts also recently issued research reports about the stock. Truist Financial raised their price objective 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. raised their target price on shares of WEX from $205.00 to $239.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Mizuho raised their target price on shares of WEX from $225.00 to $235.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. TheStreet raised shares of WEX from a c rating to a b rating in a research report on Thursday, February 8th. Finally, William Blair reaffirmed an outperform rating on shares of WEX in a research report on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $230.77.

WEX Stock Up 1.6 %

Shares of NYSE WEX opened at $237.53 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $9.91 billion, a P/E ratio of 38.56, a PEG ratio of 1.52 and a beta of 1.59. WEX has a 1 year low of $161.95 and a 1 year high of $239.18. The firm has a 50-day simple moving average of $220.30 and a two-hundred day simple moving average of $198.23.

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

Insider Activity at WEX

In related news, CAO Jennifer Kimball sold 574 shares of WEX stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $222.24, for a total transaction of $127,565.76. Following the transaction, the chief accounting officer now directly 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 accessible through this link. In related news, CAO Jennifer Kimball sold 574 shares of WEX stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $222.24, for a total transaction of $127,565.76. Following the transaction, the chief accounting officer now directly 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 accessible through this link. Also, CEO Melissa D. Smith sold 41,107 shares of WEX stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the transaction, the chief executive officer now directly owns 81,998 shares in the company, valued at $16,809,590. 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 over the last ninety days. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On WEX

Several institutional investors have recently bought and sold shares of WEX. Mitsubishi UFJ Trust & Banking Corp boosted its stake in WEX by 111.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider’s stock valued at $170,000 after acquiring an additional 500 shares in the last quarter. Bank of Montreal Can boosted its stake in WEX by 8.1% in the first quarter. Bank of Montreal Can now owns 4,181 shares of the business services provider’s stock valued at $732,000 after acquiring an additional 315 shares in the last quarter. BlackRock Inc. boosted its stake in WEX by 1.2% in the first quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock valued at $732,950,000 after acquiring an additional 49,480 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of WEX by 8.1% during the first quarter. Great West Life Assurance Co. Can now owns 24,375 shares of the business services provider’s stock worth $4,471,000 after buying an additional 1,824 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of WEX by 38.3% during the first quarter. Sei Investments Co. now owns 21,260 shares of the business services provider’s stock worth $3,793,000 after buying an additional 5,884 shares during the period. 97.47% of the stock is currently 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.