WEX (NYSE:WEX) Given New $280.00 Price Target at Barclays

WEX (NYSE:WEX) had its price objective lifted by Barclays from $255.00 to $280.00 in a report published on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the business services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group lifted their target price on shares of WEX from $235.00 to $240.00 and gave the stock a hold rating in a research report on Friday, April 12th. Evercore ISI lifted their price target on shares of WEX from $250.00 to $275.00 and gave the stock an outperform rating in a report on Tuesday, March 26th. Truist Financial lifted their price target on shares of WEX from $185.00 to $220.00 and gave the stock a hold rating in a report on Friday, February 9th. Mizuho lifted their price target on shares of WEX from $225.00 to $235.00 and gave the stock a buy rating in a report on Tuesday, February 13th. Finally, Robert W. Baird lifted their price target on shares of WEX from $272.00 to $285.00 and gave the stock an outperform rating in a report on Monday, April 15th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, WEX currently has an average rating of Moderate Buy and an average target price of $240.00.

WEX Price Performance

WEX stock opened at $230.48 on Tuesday. WEX has a 52 week low of $161.95 and a 52 week high of $244.04. The company’s 50 day moving average price is $229.66 and its two-hundred day moving average price is $202.31. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55. The stock has a market cap of $9.62 billion, a P/E ratio of 37.42, a P/E/G ratio of 1.49 and a beta of 1.59.

WEX (NYSE:WEX) last posted its earnings results on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $656.75 million. On average, equities analysts predict that WEX will post 13.55 earnings per share for the current year.

Insider Activity at WEX

In related news, SVP Sara Trickett sold 887 shares of WEX stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $224.61, for a total value of $199,229.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Hilary A. Rapkin sold 5,800 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $222.55, for a total value of $1,290,790.00. Following the transaction, the insider now owns 10,569 shares of the company’s stock, valued at $2,352,130.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Sara Trickett sold 887 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $224.61, for a total transaction of $199,229.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,433 shares of company stock worth $14,708,896. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. CWM LLC increased its holdings in shares of WEX by 15.6% in the fourth quarter. CWM LLC now owns 377 shares of the business services provider’s stock worth $73,000 after purchasing an additional 51 shares during the period. Townsquare Capital LLC increased its holdings in shares of WEX by 1.8% in the fourth quarter. Townsquare Capital LLC now owns 2,945 shares of the business services provider’s stock worth $482,000 after purchasing an additional 51 shares during the period. Raymond James Trust N.A. increased its holdings in shares of WEX by 2.2% in the second quarter. Raymond James Trust N.A. now owns 2,502 shares of the business services provider’s stock worth $455,000 after purchasing an additional 53 shares during the period. VisionPoint Advisory Group LLC increased its holdings in shares of 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 purchasing an additional 62 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of WEX by 4.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,733 shares of the business services provider’s stock worth $337,000 after purchasing an additional 72 shares during the period. 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.