UBS Group Cuts WEX (NYSE:WEX) Price Target to $172.00

WEX (NYSE:WEX) had its price objective reduced by UBS Group from $200.00 to $172.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

A number of other brokerages have also issued reports on WEX. Wells Fargo & Company cut their target price on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Friday. Jefferies Financial Group increased their target price on WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Barclays reiterated an “equal weight” rating and issued a $200.00 price target (down from $207.00) on shares of WEX in a report on Tuesday, December 17th. Citigroup cut WEX from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $260.00 to $190.00 in a research note on Tuesday, January 14th. Finally, Robert W. Baird lowered their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $210.58.

WEX Price Performance

Shares of NYSE WEX opened at $152.00 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. WEX has a fifty-two week low of $146.03 and a fifty-two week high of $244.04. The business has a 50 day moving average price of $178.33 and a two-hundred day moving average price of $185.99. The firm has a market cap of $6.05 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.24 and a beta of 1.58.

WEX (NYSE:WEX) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Sell-side analysts expect that WEX will post 14.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the transaction, the chief operating officer now owns 7,582 shares in the company, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On WEX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its stake in WEX by 40.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the business services provider’s stock valued at $77,000 after buying an additional 124 shares during the period. Truist Financial Corp boosted its holdings in shares of WEX by 21.0% in the second quarter. Truist Financial Corp now owns 2,943 shares of the business services provider’s stock valued at $521,000 after acquiring an additional 510 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of WEX by 4.4% during the second quarter. Cetera Investment Advisers now owns 13,874 shares of the business services provider’s stock valued at $2,458,000 after acquiring an additional 585 shares during the period. Sanctuary Advisors LLC bought a new stake in WEX during the second quarter worth approximately $397,000. Finally, GAMMA Investing LLC lifted its position in WEX by 40.7% in the third quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after purchasing an additional 87 shares during the period. 97.47% of the stock is currently owned by institutional investors.

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.