Wells Fargo & Company Issues Pessimistic Forecast for WEX (NYSE:WEX) Stock Price

WEX (NYSE:WEX) had its target price decreased by Wells Fargo & Company from $180.00 to $160.00 in a research report sent to investors on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the business services provider’s stock.

WEX has been the topic of several other reports. William Blair reiterated a “market perform” rating on shares of WEX in a report on Thursday. Keefe, Bruyette & Woods cut their price objective on WEX from $247.00 to $220.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Robert W. Baird lowered their target price on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wolfe Research lowered shares of WEX from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Finally, Citigroup cut shares of WEX from a “buy” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $210.58.

WEX Stock Performance

Shares of WEX stock opened at $152.00 on Friday. The stock 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. The stock has a 50-day moving average of $178.33 and a 200-day moving average of $185.99. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. WEX has a one year low of $146.03 and a one year high of $244.04.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. As a group, sell-side analysts expect that WEX will post 14.27 earnings per share for the current year.

Insider Activity

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

Institutional Trading of WEX

A number of large investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its holdings in shares of WEX by 206.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 101 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in WEX during the third quarter worth approximately $35,000. Jones Financial Companies Lllp increased its position in WEX by 108.4% during the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after buying an additional 129 shares during the last quarter. UMB Bank n.a. raised its stake in WEX by 552.5% in the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock valued at $46,000 after buying an additional 221 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in shares of WEX by 25.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds 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.