WEX (NYSE:WEX) Cut to Peer Perform at Wolfe Research

Wolfe Research downgraded shares of WEX (NYSE:WEX) from an outperform rating to a peer perform rating in a research note issued to investors on Monday morning, Marketbeat reports.

A number of other equities research analysts have also recently issued reports on WEX. Wells Fargo & Company dropped their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Keefe, Bruyette & Woods dropped their target price on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Bank of America increased their price objective on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. cut their target price on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group lifted their price target on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

WEX Stock Performance

NYSE:WEX opened at $173.76 on Monday. WEX has a 52-week low of $162.97 and a 52-week high of $244.04. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.24 and a beta of 1.55. The firm’s 50-day moving average is $199.51 and its 200-day moving average is $193.08.

WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.82 by $0.53. The firm had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.44 EPS. Equities research analysts anticipate that WEX will post 13.65 earnings per share for the current year.

Insider Transactions at WEX

In related news, CFO Jagtar Narula sold 508 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the transaction, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the transaction, the chief financial officer now owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Robert Joseph Deshaies sold 1,651 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total value of $299,937.17. Following the transaction, the chief operating officer now directly owns 7,757 shares in the company, valued at $1,409,214.19. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,341 shares of company stock valued at $605,704 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of WEX

Institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of WEX by 0.7% during the second quarter. American Century Companies Inc. now owns 10,425 shares of the business services provider’s stock worth $1,847,000 after purchasing an additional 68 shares during the period. Ballentine Partners LLC lifted its holdings in shares of WEX by 3.3% in the second quarter. Ballentine Partners LLC now owns 2,238 shares of the business services provider’s stock worth $396,000 after acquiring an additional 72 shares during the last quarter. GAMMA Investing LLC boosted its position in WEX by 40.7% in the third quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock valued at $63,000 after buying an additional 87 shares in the last quarter. Cozad Asset Management Inc. grew its position in WEX by 2.1% during the 1st quarter. Cozad Asset Management Inc. now owns 4,831 shares of the business services provider’s stock worth $1,148,000 after acquiring an additional 100 shares during the last quarter. Finally, Long Road Investment Counsel LLC grew its holdings in shares of WEX by 0.4% during the second quarter. Long Road Investment Counsel LLC now owns 26,699 shares of the business services provider’s stock worth $4,729,000 after purchasing an additional 100 shares during the last quarter. 97.47% of the stock is currently 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.