WEX (NYSE:WEX) Price Target Increased to $239.00 by Analysts at JPMorgan Chase & Co.

WEX (NYSE:WEXGet Free Report) had its price target hoisted by analysts at JPMorgan Chase & Co. from $205.00 to $239.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 12.66% from the stock’s current price.

Other analysts also recently issued reports about the stock. Mizuho boosted their price target on shares of WEX from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Barclays dropped their price target on shares of WEX from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, October 30th. Wolfe Research raised shares of WEX from a “peer perform” rating to an “outperform” rating and set a $240.00 price objective on the stock in a research note on Tuesday, October 17th. TheStreet cut shares of WEX from a “b-” rating to a “c” rating in a research note on Thursday, October 26th. Finally, Morgan Stanley lowered their price objective on shares of WEX from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Friday, October 27th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $223.75.

Get Our Latest Stock Report on WEX

WEX Stock Up 2.5 %

WEX stock opened at $212.14 on Friday. WEX has a 52 week low of $161.95 and a 52 week high of $213.61. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 1.35 and a beta of 1.60. The firm’s 50-day moving average is $196.04 and its two-hundred day moving average is $189.80. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 1.55.

Insider Transactions at WEX

In other news, CEO Melissa D. Smith sold 41,107 shares of WEX stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total value of $8,426,935.00. Following the transaction, the chief executive officer now directly owns 81,998 shares of the company’s stock, valued at $16,809,590. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Melissa D. Smith sold 41,107 shares of WEX stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total value of $8,426,935.00. Following the transaction, the chief executive officer now directly owns 81,998 shares of the company’s stock, valued at $16,809,590. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the director now directly owns 8,319 shares in the company, valued at $1,450,667.22. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC purchased a new position in WEX during the fourth quarter valued at approximately $25,000. VisionPoint Advisory Group LLC grew its position in WEX by 74.7% during the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 62 shares in the last quarter. GAMMA Investing LLC purchased a new position in WEX during the fourth quarter valued at approximately $27,000. Principal Securities Inc. purchased a new position in WEX during the fourth quarter valued at approximately $31,000. Finally, Fred Alger Management LLC purchased a new position in WEX during the third quarter valued at approximately $34,000. 97.47% of the stock is owned by hedge funds and other institutional investors.

About WEX

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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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