Keefe, Bruyette & Woods Cuts WEX (NYSE:WEX) Price Target to $220.00

WEX (NYSE:WEX) had its price objective trimmed by Keefe, Bruyette & Woods from $247.00 to $220.00 in a research note published on Monday,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group raised their price target on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Barclays reaffirmed an “equal weight” rating and set a $200.00 target price (down from $207.00) on shares of WEX in a research report on Tuesday, December 17th. Bank of America increased their price target on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company cut their price objective on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Finally, Robert W. Baird decreased their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, WEX presently has an average rating of “Moderate Buy” and a consensus price target of $227.73.

WEX Stock Performance

NYSE WEX opened at $174.98 on Monday. WEX has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. The stock has a market cap of $6.96 billion, a PE ratio of 22.21, a PEG ratio of 1.39 and a beta of 1.58. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s fifty day moving average price is $178.77 and its two-hundred day moving average price is $186.04.

WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. During the same period last year, the firm posted $3.44 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities analysts expect that WEX will post 13.1 EPS for the current fiscal year.

Insider Activity

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the sale, the chief operating officer now owns 7,582 shares in the company, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WEX

Several hedge funds and other institutional investors have recently made changes to their positions in WEX. Venturi Wealth Management LLC boosted its stake in WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of WEX during the third quarter valued at approximately $35,000. Quarry LP boosted its position in shares of WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after buying an additional 165 shares during the last quarter. Covestor Ltd grew its holdings in WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock worth $58,000 after buying an additional 89 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in WEX in the 3rd quarter valued at $59,000. 97.47% of the stock is owned by institutional investors.

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.