WEX (NYSE:WEX) Given New $160.00 Price Target at Wells Fargo & Company

WEX (NYSE:WEX) had its price objective dropped by investment analysts at Wells Fargo & Company from $180.00 to $160.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 5.25% from the company’s previous close.

Several other analysts also recently weighed in on WEX. Bank of America downgraded WEX from a “buy” rating to a “neutral” rating in a research report on Thursday. Keefe, Bruyette & Woods dropped their price objective on shares of WEX from $247.00 to $220.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. William Blair restated a “market perform” rating on shares of WEX in a research note on Thursday. Citigroup cut WEX from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Finally, Robert W. Baird cut their price objective on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, WEX has a consensus rating of “Hold” and an average target price of $215.91.

WEX Stock Performance

WEX traded up $0.08 during trading on Friday, hitting $152.01. 105,041 shares of the company traded hands, compared to its average volume of 429,820. The stock’s fifty day moving average is $178.33 and its 200 day moving average is $185.99. WEX has a one year low of $148.66 and a one year high of $244.04. The firm has a market cap of $6.05 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.50 and a beta of 1.58. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87.

WEX (NYSE:WEX) last posted its earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 12.45% and a return on equity of 31.35%. As a group, equities analysts predict that WEX will post 13.08 EPS for the current fiscal year.

Insider Activity at WEX

In other news, COO Robert Joseph Deshaies sold 175 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WEX

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in shares of WEX by 124.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 40,870 shares of the business services provider’s stock worth $8,572,000 after purchasing an additional 22,638 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of WEX by 300.4% in the 3rd 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 increased its holdings 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 last quarter. Rice Hall James & Associates LLC lifted 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 worth $32,305,000 after buying an additional 134,099 shares during the last quarter. Finally, Atria Investments Inc boosted its stake in WEX by 289.0% in the third quarter. Atria Investments Inc now owns 6,528 shares of the business services provider’s stock valued at $1,369,000 after acquiring an additional 4,850 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

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.