WEX (NYSE:WEX – Free Report) had its price target trimmed by Wells Fargo & Company from $200.00 to $190.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the business services provider’s stock.
A number of other equities research analysts have also issued reports on WEX. JPMorgan Chase & Co. cut their target price on WEX from $246.00 to $210.00 and set a neutral rating on the stock in a research report on Friday, July 12th. Barclays upped their price target on shares of WEX from $255.00 to $280.00 and gave the stock an overweight rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods lowered their target price on WEX from $275.00 to $230.00 and set an outperform rating on the stock in a research note on Monday, July 8th. Robert W. Baird lifted their price objective on shares of WEX from $272.00 to $285.00 and gave the company an outperform rating in a research note on Monday, April 15th. Finally, Jefferies Financial Group lifted their price target on shares of WEX from $235.00 to $240.00 and gave the company a hold rating in a research report on Friday, April 12th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $240.42.
WEX Trading Up 3.4 %
Insider Buying and Selling
In other WEX news, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.00, for a total transaction of $97,200.00. Following the sale, the chief financial officer now owns 8,168 shares of the company’s stock, valued at $1,470,240. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Sara Trickett sold 734 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total transaction of $154,455.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $180.00, for a total transaction of $97,200.00. Following the sale, the chief financial officer now directly owns 8,168 shares of the company’s stock, valued at $1,470,240. The disclosure for this sale can be found here. Insiders sold a total of 4,911 shares of company stock worth $1,008,402 in the last ninety days. 1.10% of the stock is owned by insiders.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC increased its stake in WEX by 1.3% in the second quarter. Peregrine Capital Management LLC now owns 47,337 shares of the business services provider’s stock valued at $8,385,000 after acquiring an additional 613 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in WEX by 6.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,237 shares of the business services provider’s stock worth $1,636,000 after purchasing an additional 552 shares during the last quarter. Burney Co. boosted its holdings in shares of WEX by 2.3% in the 2nd quarter. Burney Co. now owns 16,802 shares of the business services provider’s stock worth $2,976,000 after purchasing an additional 382 shares in the last quarter. Cambiar Investors LLC increased its position in shares of WEX by 18.3% during the 2nd quarter. Cambiar Investors LLC now owns 64,895 shares of the business services provider’s stock valued at $11,496,000 after purchasing an additional 10,021 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of WEX by 4.6% during the 2nd quarter. Verdence Capital Advisors LLC now owns 11,466 shares of the business services provider’s stock valued at $2,031,000 after buying an additional 499 shares in the last quarter. Institutional investors own 97.47% of the company’s stock.
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.
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