WEX (NYSE:WEX)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a report released on Wednesday. They presently have a $166.00 price target on the business services provider’s stock, up from their previous price target of $159.00. Morgan Stanley’s price objective would indicate a potential upside of 4.53% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. Oppenheimer raised their price target on shares of WEX from $130.00 to $176.00 in a research report on Monday, February 5th. SunTrust Banks set a $175.00 price target on shares of WEX and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Mizuho reissued a “buy” rating and set a $185.00 price target on shares of WEX in a research report on Friday, February 23rd. Barclays reissued an “equal weight” rating and set a $170.00 price target (up previously from $163.00) on shares of WEX in a research report on Thursday, February 22nd. Finally, Zacks Investment Research cut WEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $149.86.
WEX (NYSE WEX) traded up $0.15 during mid-day trading on Wednesday, hitting $158.81. 52,675 shares of the stock were exchanged, compared to its average volume of 367,284. WEX has a twelve month low of $97.26 and a twelve month high of $161.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $6,789.59, a P/E ratio of 42.65, a P/E/G ratio of 1.58 and a beta of 1.87.
In related news, insider Nicola S. Morris sold 2,700 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $149.47, for a total transaction of $403,569.00. Following the transaction, the insider now directly owns 6,387 shares in the company, valued at $954,664.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Amalgamated Bank lifted its stake in WEX by 5.6% in the fourth quarter. Amalgamated Bank now owns 8,181 shares of the business services provider’s stock valued at $1,155,000 after buying an additional 436 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in WEX by 35.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,503 shares of the business services provider’s stock valued at $353,000 after buying an additional 653 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of WEX by 17.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,714 shares of the business services provider’s stock valued at $666,000 after purchasing an additional 693 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of WEX by 2.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 29,178 shares of the business services provider’s stock valued at $4,121,000 after purchasing an additional 802 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of WEX by 21.5% during the third quarter. GSA Capital Partners LLP now owns 5,296 shares of the business services provider’s stock valued at $594,000 after purchasing an additional 937 shares in the last quarter.
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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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