WEX (NYSE:WEX) Rating Increased to Buy at StockNews.com

WEX (NYSE:WEXGet Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. lifted their target price on WEX from $205.00 to $239.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays decreased their target price on WEX from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. Truist Financial boosted their price objective on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research report on Friday. Wolfe Research upgraded WEX from a “peer perform” rating to an “outperform” rating and set a $240.00 price objective for the company in a research report on Tuesday, October 17th. Finally, Mizuho boosted 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. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $223.75.

Read Our Latest Research Report on WEX

WEX Price Performance

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

Insider Transactions at WEX

In other news, CEO Melissa D. Smith sold 41,107 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $205.00, for a total value of $8,426,935.00. Following the sale, the chief executive officer now owns 81,998 shares of the company’s stock, valued at approximately $16,809,590. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jack Vanwoerkom sold 2,000 shares of WEX 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 owns 8,319 shares in the company, valued at $1,450,667.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Melissa D. Smith sold 41,107 shares of WEX stock in a transaction 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 owns 81,998 shares in the company, valued at approximately $16,809,590. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Duality Advisers LP bought a new stake in shares of WEX during the 2nd quarter worth about $256,000. Burney Co. boosted its stake in shares of WEX by 131.1% during the 3rd quarter. Burney Co. now owns 21,120 shares of the business services provider’s stock worth $3,972,000 after acquiring an additional 11,983 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of WEX during the 2nd quarter worth about $1,569,000. Fosun International Ltd bought a new stake in shares of WEX during the 3rd quarter worth about $597,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of WEX during the 2nd quarter worth about $260,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

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.

Further Reading

Analyst Recommendations for WEX (NYSE:WEX)

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