WEX (NYSE:WEX) Price Target Raised to $285.00 at Robert W. Baird

WEX (NYSE:WEX) had its price objective increased by Robert W. Baird from $272.00 to $285.00 in a research note published on Monday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

Several other equities research analysts have also recently weighed in on WEX. Truist Financial boosted their target price on WEX from $185.00 to $220.00 and gave the stock a hold rating in a research note on Friday, February 9th. Evercore ISI boosted their target price on WEX from $250.00 to $275.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Mizuho lifted their price target on WEX from $225.00 to $235.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. TheStreet raised WEX from a c rating to a b rating in a research report on Thursday, February 8th. Finally, StockNews.com lowered WEX from a buy rating to a hold rating in a research report on Tuesday, March 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $240.00.

WEX Stock Performance

Shares of WEX opened at $229.85 on Monday. The stock has a 50-day simple moving average of $228.84 and a 200-day simple moving average of $201.82. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $9.59 billion, a PE ratio of 37.31, a PEG ratio of 1.51 and a beta of 1.59. WEX has a 1 year low of $161.95 and a 1 year high of $244.04.

WEX (NYSE:WEX) last posted its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.29 by ($0.15). The business had revenue of $663.30 million for the quarter, compared to analysts’ expectations of $656.75 million. WEX had a return on equity of 31.33% and a net margin of 10.46%. On average, analysts predict that WEX will post 13.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WEX news, SVP Sara Trickett sold 887 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other WEX news, CEO Melissa D. Smith sold 41,107 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $205.00, for a total value of $8,426,935.00. Following the sale, the chief executive officer now owns 81,998 shares of the company’s stock, valued at $16,809,590. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sara Trickett sold 887 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $224.61, for a total value of $199,229.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,433 shares of company stock worth $14,708,896. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of WEX

Several large investors have recently bought and sold shares of WEX. Morgan Stanley grew its holdings in WEX by 342.4% in the fourth quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock valued at $337,102,000 after purchasing an additional 1,594,294 shares during the last quarter. Norges Bank acquired a new stake in WEX in the fourth quarter valued at $89,745,000. Kodai Capital Management LP acquired a new stake in shares of WEX during the fourth quarter valued at $49,750,000. Wellington Management Group LLP boosted its stake in shares of WEX by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock valued at $607,482,000 after acquiring an additional 179,813 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of WEX by 40.6% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 598,641 shares of the business services provider’s stock valued at $108,024,000 after acquiring an additional 172,805 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

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.