WEX Inc. (NYSE:WEX) Price Target Raised to $119.00 at Barclays PLC
WEX Inc. (NYSE:WEX) had its price target boosted by analysts at Barclays PLC from $115.00 to $119.00 in a report released on Tuesday. The brokerage presently has an “equal weight” rating on the business services provider’s stock. Barclays PLC’s price target points to a potential upside of 7.26% from the company’s previous close.
WEX has been the topic of a number of other reports. Credit Suisse Group upgraded shares of WEX from a “neutral” rating to an “outperform” rating in a report on Thursday, April 27th. Zacks Investment Research downgraded shares of WEX from a “hold” rating to a “sell” rating in a report on Friday, April 7th. Deutsche Bank AG upgraded shares of WEX from a “hold” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $125.00 in a report on Monday, June 5th. Jefferies Group LLC reiterated a “buy” rating and issued a $135.00 price objective on shares of WEX in a report on Monday, May 15th. Finally, BidaskClub downgraded shares of WEX from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $118.10.
WEX (NYSE:WEX) traded up 0.82% during mid-day trading on Tuesday, reaching $111.86. 155,522 shares of the company’s stock traded hands. WEX has a 1-year low of $89.89 and a 1-year high of $122.91. The firm has a 50-day moving average price of $103.14 and a 200-day moving average price of $107.51. The stock has a market cap of $4.80 billion, a P/E ratio of 70.13 and a beta of 1.80.
WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, April 27th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.13. WEX had a net margin of 6.07% and a return on equity of 13.31%. The company had revenue of $291.36 million for the quarter, compared to the consensus estimate of $281.68 million. During the same period last year, the company earned $0.98 earnings per share. The firm’s revenue was up 41.5% compared to the same quarter last year. Equities research analysts anticipate that WEX will post $5.32 EPS for the current fiscal year.
In related news, SVP George W. Hogan sold 4,500 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $110.00, for a total transaction of $495,000.00. Following the transaction, the senior vice president now directly owns 15,615 shares in the company, valued at $1,717,650. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Scott Robert Phillips sold 22,135 shares of the business’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $99.90, for a total transaction of $2,211,286.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,635 shares of company stock worth $2,916,287. 0.86% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Saturna Capital bought a new position in WEX during the third quarter worth approximately $28,000. Janus Capital Management boosted its position in WEX by 65.5% in the third quarter. Janus Capital Management now owns 1,570,948 shares of the business services provider’s stock worth $136,421,000 after buying an additional 621,512 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in WEX by 16.8% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 689,155 shares of the business services provider’s stock worth $60,921,000 after buying an additional 98,912 shares during the period. Hermes Investment Management Ltd. boosted its position in WEX by 19.9% in the fourth quarter. Hermes Investment Management Ltd. now owns 344,802 shares of the business services provider’s stock worth $30,480,000 after buying an additional 57,203 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in WEX by 12.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 35,159 shares of the business services provider’s stock worth $3,108,000 after buying an additional 3,931 shares during the period.
WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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