WEX (NYSE:WEX) PT Raised to $220.00

WEX (NYSE:WEXGet Free Report) had its price objective upped by investment analysts at Truist Financial from $185.00 to $220.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the business services provider’s stock. Truist Financial’s price objective indicates a potential upside of 3.71% from the company’s previous close.

WEX has been the subject of a number of other research reports. Mizuho increased their price objective on WEX from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Morgan Stanley cut their price objective on WEX from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, October 27th. TheStreet downgraded WEX from a “b-” rating to a “c” rating in a research report on Thursday, October 26th. Barclays reduced their target price on WEX from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, October 30th. Finally, StockNews.com lowered WEX from a “buy” rating to a “hold” rating in a report on Saturday, October 21st. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, WEX has a consensus rating of “Moderate Buy” and a consensus price target of $223.75.

Read Our Latest Research Report on WEX

WEX Price Performance

Shares of NYSE:WEX opened at $212.14 on Friday. WEX has a one year low of $161.95 and a one year high of $213.61. The stock has a fifty day moving average of $196.04 and a 200-day moving average of $189.80. The company has a market capitalization of $9.07 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 1.35 and a beta of 1.60. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.03 and a current ratio of 1.05.

Insider Buying and Selling

In related news, Director Jack Vanwoerkom sold 2,000 shares of the stock in a transaction 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 sale, the director now directly owns 8,319 shares in the company, valued at $1,450,667.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other WEX news, CEO Melissa D. Smith sold 41,107 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jack Vanwoerkom sold 2,000 shares of the stock in a transaction 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 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 owned by corporate insiders.

Hedge Funds Weigh In On WEX

Several hedge funds have recently bought and sold shares of WEX. Mitsubishi UFJ Trust & Banking Corp increased its position in WEX by 111.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider’s stock worth $170,000 after buying an additional 500 shares during the last quarter. Bank of Montreal Can increased its position in WEX by 8.1% during the first quarter. Bank of Montreal Can now owns 4,181 shares of the business services provider’s stock worth $732,000 after buying an additional 315 shares during the last quarter. BlackRock Inc. increased its position in WEX by 1.2% during the first quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock worth $732,950,000 after buying an additional 49,480 shares during the last quarter. Great West Life Assurance Co. Can increased its position in WEX by 8.1% during the first quarter. Great West Life Assurance Co. Can now owns 24,375 shares of the business services provider’s stock worth $4,471,000 after buying an additional 1,824 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of WEX by 38.3% in the first quarter. Sei Investments Co. now owns 21,260 shares of the business services provider’s stock valued at $3,793,000 after purchasing an additional 5,884 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Company Profile

(Get Free Report)

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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Analyst Recommendations for WEX (NYSE:WEX)

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