Keefe, Bruyette & Woods Lowers WEX (NYSE:WEX) Price Target to $200.00

WEX (NYSE:WEX) had its target price decreased by Keefe, Bruyette & Woods from $220.00 to $200.00 in a research report sent to investors on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the business services provider’s stock.

Several other research firms also recently issued reports on WEX. Citigroup downgraded WEX from a “buy” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. Wolfe Research cut WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. William Blair reaffirmed a “market perform” rating on shares of WEX in a research note on Thursday. Robert W. Baird lowered their price objective on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $209.73.

WEX Trading Up 0.0 %

NYSE WEX opened at $152.00 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. WEX has a one year low of $146.03 and a one year high of $244.04. The stock’s 50-day moving average is $177.60 and its 200-day moving average is $185.82. The firm has a market cap of $6.05 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.24 and a beta of 1.58.

WEX (NYSE:WEX) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Sell-side analysts anticipate that WEX will post 14.27 earnings per share for the current fiscal year.

Insider Activity at WEX

In related news, COO Robert Joseph Deshaies sold 175 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WEX

Hedge funds and other institutional investors have recently modified their holdings of the company. Venturi Wealth Management LLC grew its position in shares of WEX by 206.1% during the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after purchasing an additional 101 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in WEX in the third quarter worth about $35,000. Jones Financial Companies Lllp grew its position in WEX by 108.4% in the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 129 shares during the last quarter. UMB Bank n.a. increased its stake in WEX by 552.5% in the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock worth $46,000 after buying an additional 221 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of WEX by 25.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 66 shares in the last quarter. 97.47% of the stock is owned by institutional investors.

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.