JPMorgan Chase & Co. Boosts WEX (NYSE:WEX) Price Target to $239.00

WEX (NYSE:WEXFree Report) had its price objective lifted by JPMorgan Chase & Co. from $205.00 to $239.00 in a research report report published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the business services provider’s stock.

Several other analysts also recently issued reports on the company. Barclays lowered their price target on WEX from $245.00 to $225.00 and set an overweight rating for the company in a report on Monday, October 30th. Morgan Stanley lowered their price target on WEX from $205.00 to $200.00 and set an equal weight rating for the company in a report on Friday, October 27th. Mizuho increased their price target on WEX from $200.00 to $225.00 and gave the company a buy rating in a report on Thursday, January 18th. StockNews.com downgraded WEX from a buy rating to a hold rating in a research note on Saturday, October 21st. Finally, TheStreet downgraded WEX from a b- rating to a c rating in a research note on Thursday, October 26th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $226.25.

Check Out Our Latest Analysis on WEX

WEX Trading Down 0.7 %

Shares of WEX opened at $210.60 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $9.00 billion, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The stock’s fifty day simple moving average is $196.64 and its 200 day simple moving average is $189.89. WEX has a twelve month low of $161.95 and a twelve month high of $213.61.

Insiders Place Their Bets

In other news, Director Jack Vanwoerkom sold 2,000 shares of WEX stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $174.38, for a total transaction of $348,760.00. Following the sale, the director now owns 8,319 shares of the company’s stock, valued at $1,450,667.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Melissa D. Smith sold 41,107 shares of the firm’s 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 owns 81,998 shares in the company, valued at $16,809,590. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack Vanwoerkom sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $174.38, for a total transaction of $348,760.00. Following the transaction, the director now owns 8,319 shares in the company, valued at approximately $1,450,667.22. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FinTrust Capital Advisors LLC acquired a new position in shares of WEX during the fourth quarter valued at approximately $25,000. VisionPoint Advisory Group LLC grew its position in WEX by 74.7% in the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after buying an additional 62 shares during the last quarter. GAMMA Investing LLC acquired a new position in WEX in the fourth quarter worth approximately $27,000. Principal Securities Inc. acquired a new position in WEX in the fourth quarter worth approximately $31,000. Finally, Steward Partners Investment Advisory LLC grew its position in WEX by 79.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 169 shares of the business services provider’s stock worth $33,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Company Profile

(Get Free Report)

WEX Inc operates a commerce platform in the United States and internationally. The Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account 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 tools to fleets to manage expenses and capital requirements.

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