Mizuho Cuts WEX (NYSE:WEX) Price Target to $170.00

WEX (NYSE:WEX) had its price target decreased by Mizuho from $215.00 to $170.00 in a research report released on Monday,Benzinga reports. Mizuho currently has an outperform rating on the business services provider’s stock.

A number of other equities research analysts have also recently weighed in on WEX. William Blair reaffirmed a “market perform” rating on shares of WEX in a report on Thursday, February 6th. Wolfe Research cut shares of WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods lowered their price target on shares of WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Wells Fargo & Company reduced their price objective on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Finally, Barclays reduced their price objective on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research note on Monday. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $199.73.

WEX Stock Down 2.4 %

Shares of WEX stock opened at $151.05 on Monday. The business has a 50-day moving average of $175.62 and a 200-day moving average of $185.27. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. The company has a market capitalization of $6.01 billion, a PE ratio of 20.14, a P/E/G ratio of 1.24 and a beta of 1.58. WEX has a 1-year low of $146.03 and a 1-year high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. As a group, equities analysts forecast that WEX will post 14.27 EPS for the current fiscal year.

Insider Activity at WEX

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $189.44, for a total transaction of $33,152.00. Following the sale, the chief operating officer now directly owns 7,582 shares of the company’s stock, valued at approximately $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Institutional Trading of WEX

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in WEX by 124.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 40,870 shares of the business services provider’s stock valued at $8,572,000 after buying an additional 22,638 shares during the period. Natixis Advisors LLC grew its position in WEX by 300.4% in the third quarter. Natixis Advisors LLC now owns 68,539 shares of the business services provider’s stock valued at $14,375,000 after purchasing an additional 51,423 shares in the last quarter. Fifth Third Bancorp grew its position in shares of WEX by 1,635.8% in the 4th quarter. Fifth Third Bancorp now owns 8,783 shares of the business services provider’s stock valued at $1,540,000 after acquiring an additional 8,277 shares during the period. Rice Hall James & Associates LLC grew its position in shares of WEX by 672.7% in the 3rd quarter. Rice Hall James & Associates LLC now owns 154,033 shares of the business services provider’s stock valued at $32,305,000 after acquiring an additional 134,099 shares during the period. Finally, Atria Investments Inc lifted its stake in shares of WEX by 289.0% during the 3rd quarter. Atria Investments Inc now owns 6,528 shares of the business services provider’s stock worth $1,369,000 after buying an additional 4,850 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

About WEX

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.