WEX (NYSE:WEX) Given New $195.00 Price Target at UBS Group

WEX (NYSE:WEX) had its target price boosted by UBS Group from $180.00 to $195.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

WEX has been the topic of several other reports. Mizuho boosted their price target on shares of WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Cantor Fitzgerald raised their price objective on WEX from $178.00 to $189.00 and gave the company a “neutral” rating in a report on Friday. Weiss Ratings raised WEX from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. Piper Sandler started coverage on WEX in a report on Thursday, September 10th. They set a “neutral” rating and a $209.00 target price on the stock. Finally, Morgan Stanley increased their price target on WEX from $172.00 to $178.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 27th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $191.10.

WEX Stock Performance

Shares of WEX stock opened at $184.69 on Friday. The company’s fifty day simple moving average is $186.09 and its 200-day simple moving average is $164.54. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 3.00. The firm has a market cap of $6.07 billion, a PE ratio of 15.89, a P/E/G ratio of 0.94 and a beta of 0.93. WEX has a 12 month low of $125.29 and a 12 month high of $203.99.

WEX (NYSE:WEX) last announced its earnings results on Wednesday, October 28th. The business services provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.68 by $0.45. The business had revenue of $780.10 million during the quarter, compared to analysts’ expectations of $749.74 million. WEX had a net margin of 14.05% and a return on equity of 45.74%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.59 earnings per share. Equities research analysts expect that WEX will post 17.32 EPS for the current fiscal year.

Insider Transactions at WEX

In other news, CEO Melissa D. Smith sold 28,109 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $190.09, for a total value of $5,343,239.81. Following the completion of the transaction, the chief executive officer directly owned 126,625 shares in the company, valued at approximately $24,070,146.25. This represents a 18.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joel Alan Dearborn, Jr. sold 3,343 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $200.00, for a total value of $668,600.00. Following the transaction, the chief operating officer owned 17,021 shares in the company, valued at $3,404,200. This trade represents a 16.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 34,527 shares of company stock worth $6,558,910 in the last three months. Insiders own 1.40% of the company’s stock.

Institutional Trading of WEX

A number of hedge funds have recently bought and sold shares of WEX. Covestor Ltd grew its position in shares of WEX by 97.8% in the 3rd quarter. Covestor Ltd now owns 267 shares of the business services provider’s stock worth $45,000 after acquiring an additional 132 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of WEX during the 3rd quarter valued at approximately $205,000. State of Wyoming lifted its stake in WEX by 42.2% during the third quarter. State of Wyoming now owns 1,318 shares of the business services provider’s stock worth $222,000 after purchasing an additional 391 shares during the last quarter. Choreo LLC boosted its holdings in WEX by 3.6% in the third quarter. Choreo LLC now owns 3,187 shares of the business services provider’s stock worth $538,000 after purchasing an additional 110 shares during the period. Finally, Level Wealth Management LLC acquired a new position in WEX in the third quarter worth $211,000. Institutional investors own 97.47% of the company’s stock.

About WEX

WEX Inc (NYSE:WEX) is a financial technology company that provides payment-processing and business-management solutions. Its products are designed to help organizations manage corporate spending, employee benefits and mobility-related expenses through specialized payment accounts, software and data tools.

WEX’s mobility business serves commercial vehicle fleets with fuel cards, fleet-payment programs, expense controls, telematics integrations and related solutions. The company also supports emerging mobility needs, including electric-vehicle charging payments.