WEX (NYSE:WEX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of WEX (NYSE:WEXFree Report) from a hold rating to a buy rating in a report released on Friday morning.

Several other research firms have also issued reports on WEX. JPMorgan Chase & Co. increased their target price on WEX from $205.00 to $239.00 and gave the stock a neutral rating in a report on Friday. Truist Financial increased their target price on WEX from $185.00 to $220.00 and gave the stock a hold rating in a report on Friday. Morgan Stanley reduced their target price on WEX from $205.00 to $200.00 and set an equal weight rating on the stock in a report on Friday, October 27th. Mizuho increased their target price on WEX from $200.00 to $225.00 and gave the stock a buy rating in a report on Thursday, January 18th. Finally, Barclays reduced their target price on WEX from $245.00 to $225.00 and set an overweight rating on the stock in a report on Monday, October 30th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, WEX currently has a consensus rating of Moderate Buy and an average target price of $226.25.

Read Our Latest Stock Analysis on WEX

WEX Stock Down 0.7 %

WEX stock opened at $210.60 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.03. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 1.27 and a beta of 1.60. The business’s fifty day moving average price is $196.64 and its two-hundred day moving average price is $189.89. WEX has a fifty-two week low of $161.95 and a fifty-two week high of $213.61.

Insider Transactions at WEX

In other news, CEO Melissa D. Smith sold 41,107 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the completion of the transaction, the chief executive officer now directly owns 81,998 shares in the company, valued at $16,809,590. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jack Vanwoerkom sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $174.38, for a total transaction of $348,760.00. Following the completion of the transaction, the director now directly owns 8,319 shares in the company, valued at $1,450,667.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Melissa D. Smith sold 41,107 shares of WEX stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 81,998 shares of the company’s stock, valued at $16,809,590. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WEX

Hedge funds have recently added to or reduced their stakes in the business. Townsquare Capital LLC grew its stake in WEX by 1.8% in the fourth quarter. Townsquare Capital LLC now owns 2,945 shares of the business services provider’s stock valued at $482,000 after acquiring an additional 51 shares during the period. CWM LLC boosted its position in shares of WEX by 15.6% during the fourth quarter. CWM LLC now owns 377 shares of the business services provider’s stock valued at $73,000 after buying an additional 51 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of WEX by 2.2% during the second quarter. Raymond James Trust N.A. now owns 2,502 shares of the business services provider’s stock valued at $455,000 after buying an additional 53 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of WEX by 0.8% during the second quarter. PNC Financial Services Group Inc. now owns 7,494 shares of the business services provider’s stock valued at $1,364,000 after buying an additional 62 shares during the last quarter. Finally, VisionPoint Advisory Group LLC boosted its position in shares of WEX by 74.7% during the third quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock valued at $27,000 after buying an additional 62 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors.

About WEX

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WEX Inc operates a commerce platform in the United States and internationally. The Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account 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 tools to fleets to manage expenses and capital requirements.

Further Reading

Analyst Recommendations for WEX (NYSE:WEX)

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