WEX (NYSE:WEX) PT Raised to $260.00
WEX (NYSE:WEX) had its price objective hoisted by Citigroup from $235.00 to $260.00 in a report issued on Monday, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the business services provider’s stock.
Several other analysts have also recently commented on WEX. Goldman Sachs Group upgraded shares of WEX from a neutral rating to a buy rating and raised their price target for the stock from $193.00 to $225.00 in a report on Wednesday, June 5th. BTIG Research raised their price target on shares of WEX from $225.00 to $255.00 and gave the stock a buy rating in a report on Thursday, July 18th. TheStreet cut shares of WEX from a b rating to a c+ rating in a report on Monday, August 5th. Bank of America began coverage on shares of WEX in a report on Monday, June 3rd. They set a buy rating and a $220.00 price target for the company. Finally, Jefferies Financial Group raised their price target on shares of WEX from $210.00 to $230.00 and gave the stock a hold rating in a report on Thursday, July 18th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $223.00.
WEX stock opened at $205.43 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market cap of $8.83 billion, a P/E ratio of 26.89, a P/E/G ratio of 1.68 and a beta of 1.56. The firm has a 50 day simple moving average of $204.73 and a 200 day simple moving average of $200.14. WEX has a 52 week low of $131.35 and a 52 week high of $221.66.
In related news, CEO Melissa D. Smith sold 15,556 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $209.99, for a total transaction of $3,266,604.44. Following the transaction, the chief executive officer now owns 78,839 shares of the company’s stock, valued at $16,555,401.61. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Scott Robert Phillips sold 15,973 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $208.44, for a total transaction of $3,329,412.12. Following the transaction, the insider now directly owns 9,850 shares in the company, valued at approximately $2,053,134. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Atlantic Trust LLC raised its position in WEX by 40.8% during the second quarter. Atlantic Trust LLC now owns 169 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 49 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in WEX by 20.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 302 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 52 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in WEX during the first quarter valued at approximately $96,000. Advisory Services Network LLC raised its position in shares of WEX by 30.6% in the second quarter. Advisory Services Network LLC now owns 529 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 124 shares during the period. Finally, Tortoise Index Solutions LLC bought a new position in shares of WEX in the first quarter valued at approximately $121,000. 99.37% of the stock is currently owned by hedge funds and other institutional investors.
WEX Company Profile
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.
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