WEX (NYSE:WEX) Given New $280.00 Price Target at Barclays

WEX (NYSE:WEX) had its target price lifted by investment analysts at Barclays from $255.00 to $280.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Barclays‘s price objective would indicate a potential upside of 19.85% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. TheStreet upgraded shares of WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. upped their target price on shares of WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Truist Financial upped their target price on shares of WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Jefferies Financial Group increased their price target on shares of WEX from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday. Finally, Robert W. Baird increased their price target on shares of WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a research report on Monday. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.92.

WEX Price Performance

NYSE:WEX traded up $0.68 during mid-day trading on Tuesday, reaching $233.62. 80,847 shares of the company were exchanged, compared to its average volume of 298,367. WEX has a 12 month low of $161.95 and a 12 month high of $244.04. The company has a fifty day moving average of $227.61 and a 200 day moving average of $201.30. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55. The stock has a market cap of $9.75 billion, a PE ratio of 38.01, a PEG ratio of 1.53 and a beta of 1.59.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a return on equity of 31.33% and a net margin of 10.46%. The company had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. On average, research analysts anticipate that WEX will post 13.51 EPS for the current fiscal year.

Insider Transactions at WEX

In other news, CEO Melissa D. Smith sold 41,107 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 81,998 shares of the company’s stock, valued at approximately $16,809,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Melissa D. Smith sold 41,107 shares of the firm’s 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 completion of 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 through this link. Also, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total transaction of $72,071.16. Following the completion of the transaction, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at $1,289,350.72. The disclosure for this sale can be found here. Insiders sold 69,433 shares of company stock valued at $14,708,896 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its position in WEX by 19,044.7% during the fourth quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock worth $7,002,000 after purchasing an additional 35,804 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in shares of WEX by 56.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 141,287 shares of the business services provider’s stock worth $26,575,000 after buying an additional 50,771 shares in the last quarter. Burney Co. lifted its holdings in shares of WEX by 131.1% during the third quarter. Burney Co. now owns 21,120 shares of the business services provider’s stock worth $3,972,000 after buying an additional 11,983 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of WEX by 65.5% during the third quarter. Deutsche Bank AG now owns 54,523 shares of the business services provider’s stock worth $10,255,000 after buying an additional 21,578 shares in the last quarter. Finally, Comerica Bank acquired a new stake in shares of WEX during the third quarter worth $6,545,000. 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.