Robert W. Baird Raises WEX (NYSE:WEX) Price Target to $200.00

WEX (NYSE:WEXGet Rating) had its price objective boosted by analysts at Robert W. Baird from $190.00 to $200.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Robert W. Baird’s price target would suggest a potential upside of 10.41% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of WEX from $226.00 to $185.00 in a research report on Monday, October 10th. Bank of America dropped their price objective on shares of WEX from $225.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, October 20th. Mizuho dropped their price objective on shares of WEX from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, November 14th. Barclays dropped their price objective on shares of WEX from $213.00 to $209.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Wells Fargo & Company upped their price objective on shares of WEX from $185.00 to $193.00 and gave the company an “overweight” rating in a report on Monday, January 9th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, WEX has a consensus rating of “Moderate Buy” and an average price target of $194.08.

WEX Trading Up 0.4 %

NYSE WEX opened at $181.14 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.62. The firm has a market cap of $7.90 billion, a PE ratio of 81.96, a price-to-earnings-growth ratio of 0.76 and a beta of 1.59. The company has a 50 day moving average price of $165.80 and a 200 day moving average price of $158.35. WEX has a 52 week low of $125.00 and a 52 week high of $183.49.

WEX (NYSE:WEXGet Rating) last released its earnings results on Thursday, October 27th. The business services provider reported $3.01 earnings per share for the quarter, missing the consensus estimate of $3.12 by ($0.11). The company had revenue of $616.13 million for the quarter, compared to analysts’ expectations of $590.54 million. WEX had a return on equity of 27.73% and a net margin of 4.53%. As a group, sell-side analysts forecast that WEX will post 11.61 EPS for the current fiscal year.

Insider Buying and Selling

In other WEX news, insider Hilary A. Rapkin sold 6,156 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $165.19, for a total transaction of $1,016,909.64. Following the completion of the transaction, the insider now directly owns 12,328 shares in the company, valued at $2,036,462.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WEX news, insider Hilary A. Rapkin sold 5,270 shares of the company’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $175.00, for a total transaction of $922,250.00. Following the completion of the transaction, the insider now directly owns 12,203 shares in the company, valued at $2,135,525. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hilary A. Rapkin sold 6,156 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $165.19, for a total transaction of $1,016,909.64. Following the transaction, the insider now owns 12,328 shares of the company’s stock, valued at $2,036,462.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,426 shares of company stock valued at $2,102,480. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On WEX

A number of large investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC raised its position in WEX by 85.6% during the fourth quarter. Lindbrook Capital LLC now owns 167 shares of the business services provider’s stock worth $27,000 after acquiring an additional 77 shares during the period. Arizona State Retirement System raised its position in shares of WEX by 0.7% in the third quarter. Arizona State Retirement System now owns 12,226 shares of the business services provider’s stock valued at $1,552,000 after buying an additional 80 shares during the last quarter. Tortoise Index Solutions LLC raised its position in shares of WEX by 5.1% in the second quarter. Tortoise Index Solutions LLC now owns 1,768 shares of the business services provider’s stock valued at $275,000 after buying an additional 86 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in shares of WEX by 1.2% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,531 shares of the business services provider’s stock valued at $1,172,000 after buying an additional 87 shares during the last quarter. Finally, Logan Capital Management Inc. raised its position in shares of WEX by 0.9% in the second quarter. Logan Capital Management Inc. now owns 10,908 shares of the business services provider’s stock valued at $1,697,000 after buying an additional 93 shares during the last quarter. 98.65% of the stock is currently owned by institutional investors and hedge funds.

About WEX

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WEX Inc provides financial technology services in the United States and internationally. 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 processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.

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