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

WEX (NYSE:WEX) had its price target upped by equities researchers at Robert W. Baird from $272.00 to $285.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s target price indicates a potential upside of 22.07% from the company’s current price.

Several other brokerages also recently weighed in on WEX. Mizuho lifted their target price on WEX from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Truist Financial boosted their price objective 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 price objective on WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. TheStreet raised WEX from a “c” rating to a “b” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. boosted their price objective on WEX from $205.00 to $239.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.92.

WEX Stock Up 0.2 %

Shares of WEX stock opened at $233.47 on Monday. The business’s fifty day moving average price is $228.29 and its two-hundred day moving average price is $201.62. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $9.75 billion, a P/E ratio of 37.90, a PEG ratio of 1.53 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 announced 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 the consensus estimate of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. As a group, research analysts forecast that WEX will post 13.51 EPS for the current year.

Insider Buying and Selling

In related news, CEO Melissa D. Smith sold 41,107 shares of WEX 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 transaction, the chief executive officer now directly owns 81,998 shares in the company, valued at approximately $16,809,590. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 transaction of $8,426,935.00. Following the transaction, the chief executive officer now directly owns 81,998 shares of the company’s stock, valued at $16,809,590. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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. Insiders have sold 69,433 shares of company stock worth $14,708,896 in the last three months. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WEX. CWM LLC increased its position in WEX by 15.6% in the 4th quarter. CWM LLC now owns 377 shares of the business services provider’s stock worth $73,000 after purchasing an additional 51 shares during the last quarter. Townsquare Capital LLC increased its position in WEX by 1.8% in the 4th quarter. Townsquare Capital LLC now owns 2,945 shares of the business services provider’s stock worth $482,000 after purchasing an additional 51 shares during the last quarter. Raymond James Trust N.A. increased its position in WEX by 2.2% in the 2nd quarter. Raymond James Trust N.A. now owns 2,502 shares of the business services provider’s stock worth $455,000 after purchasing an additional 53 shares during the last quarter. VisionPoint Advisory Group LLC increased its position in WEX by 74.7% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 145 shares of the business services provider’s stock worth $27,000 after purchasing an additional 62 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in WEX by 4.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,733 shares of the business services provider’s stock worth $337,000 after purchasing an additional 72 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

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.