WEX (WEX) Price Target Raised to $200.00

WEX (NYSE:WEX) had its price target lifted by Mizuho from $190.00 to $200.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the business services provider’s stock. Mizuho’s price objective would suggest a potential upside of 8.22% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of WEX from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. ValuEngine raised shares of WEX from a “hold” rating to a “buy” rating in a report on Friday, February 8th. William Blair reissued an “outperform” rating on shares of WEX in a report on Wednesday, January 30th. Jefferies Financial Group started coverage on shares of WEX in a report on Monday, January 28th. They issued a “hold” rating and a $170.00 price target for the company. Finally, BTIG Research started coverage on shares of WEX in a report on Thursday, January 17th. They issued a “buy” rating and a $198.00 price target for the company. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. WEX presently has an average rating of “Buy” and an average target price of $196.64.

WEX stock opened at $184.81 on Thursday. The stock has a market capitalization of $8.03 billion, a P/E ratio of 26.79, a P/E/G ratio of 1.50 and a beta of 1.51. WEX has a fifty-two week low of $131.35 and a fifty-two week high of $203.49. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.47 and a quick ratio of 1.50.

In other WEX news, insider Nicola S. Morris sold 992 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $184.05, for a total value of $182,577.60. Following the completion of the sale, the insider now directly owns 11,848 shares of the company’s stock, valued at approximately $2,180,624.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.57% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc lifted its stake in WEX by 3.0% during the third quarter. Vanguard Group Inc now owns 3,840,898 shares of the business services provider’s stock valued at $771,098,000 after buying an additional 111,362 shares in the last quarter. BlackRock Inc. lifted its stake in WEX by 2.3% during the fourth quarter. BlackRock Inc. now owns 3,807,299 shares of the business services provider’s stock valued at $533,248,000 after buying an additional 86,873 shares in the last quarter. William Blair Investment Management LLC lifted its stake in WEX by 2.6% during the third quarter. William Blair Investment Management LLC now owns 1,054,791 shares of the business services provider’s stock valued at $211,760,000 after buying an additional 26,661 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in WEX by 6.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 942,937 shares of the business services provider’s stock valued at $132,068,000 after buying an additional 60,588 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in WEX by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 470,830 shares of the business services provider’s stock valued at $65,944,000 after buying an additional 23,979 shares in the last quarter. 98.52% of the stock is owned by institutional investors.

About WEX

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 and processing services.

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Analyst Recommendations for WEX (NYSE:WEX)

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