WEX (NYSE:WEX) Given New $240.00 Price Target at Jefferies Financial Group

WEX (NYSE:WEX) had its price target lifted by Jefferies Financial Group from $235.00 to $240.00 in a research report released on Friday, Benzinga reports. The firm currently has a hold rating on the business services provider’s stock.

Other research analysts also recently issued reports about the stock. StockNews.com downgraded shares of WEX from a buy rating to a hold rating in a research report on Tuesday, March 26th. Barclays increased their price target on shares of WEX from $240.00 to $255.00 and gave the stock an overweight rating in a research report on Monday, February 12th. Mizuho raised their price objective on shares of WEX from $225.00 to $235.00 and gave the company a buy rating in a research report on Tuesday, February 13th. William Blair restated an outperform rating on shares of WEX in a research report on Thursday, February 8th. Finally, Evercore ISI raised their price objective on shares of WEX from $250.00 to $275.00 and gave the company an outperform rating in a research report on Tuesday, March 26th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, WEX currently has a consensus rating of Moderate Buy and a consensus price target of $235.00.

WEX Stock Down 1.2 %

Shares of WEX stock opened at $232.98 on Friday. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 1.53 and a beta of 1.59. The company’s 50 day moving average is $227.61 and its 200 day moving average is $201.30. WEX has a twelve month low of $161.95 and a twelve month high of $244.04. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55.

WEX (NYSE:WEX) last issued its quarterly earnings data 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). The company had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. Research analysts anticipate that WEX will post 13.51 EPS for the current year.

Insiders Place Their Bets

In other WEX news, CAO Jennifer Kimball sold 574 shares of WEX stock in a transaction on Friday, February 16th. The shares were sold at an average price of $222.24, for a total value of $127,565.76. Following the completion of the transaction, the chief accounting officer now directly owns 1,297 shares of the company’s stock, valued at approximately $288,245.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were 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 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 through this hyperlink. Also, CAO Jennifer Kimball sold 574 shares of WEX stock in a transaction dated Friday, February 16th. The shares were 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 approximately $288,245.28. The disclosure for this sale can be found here. Insiders sold 69,433 shares of company stock valued at $14,708,896 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in WEX by 15.6% during the 4th quarter. CWM LLC now owns 377 shares of the business services provider’s stock valued at $73,000 after buying an additional 51 shares in the last quarter. Townsquare Capital LLC raised its holdings in shares of WEX by 1.8% in the 4th quarter. Townsquare Capital LLC now owns 2,945 shares of the business services provider’s stock valued at $482,000 after purchasing an additional 51 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of WEX by 2.2% in the 2nd quarter. Raymond James Trust N.A. now owns 2,502 shares of the business services provider’s stock valued at $455,000 after purchasing an additional 53 shares in the last quarter. VisionPoint Advisory Group LLC raised 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 purchasing an additional 62 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of WEX by 4.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,733 shares of the business services provider’s stock valued at $337,000 after purchasing an additional 72 shares in the last quarter. 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.