Truist Financial Cuts WEX (NYSE:WEX) Price Target to $185.00

WEX (NYSE:WEX – Get Rating) had its price objective cut by Truist Financial from $215.00 to $185.00 in a research note published on Thursday, The Fly reports.

A number of other research firms have also recently issued reports on WEX. StockNews.com started coverage on WEX in a research report on Thursday. They set a hold rating on the stock. Wells Fargo & Company boosted their price target on WEX from $193.00 to $230.00 in a research note on Friday, February 10th. Morgan Stanley boosted their price target on WEX from $157.00 to $199.00 and gave the company an equal weight rating in a research note on Friday, February 10th. TheStreet raised WEX from a c rating to a b- rating in a research note on Thursday, February 9th. Finally, Robert W. Baird boosted their price target on WEX from $200.00 to $222.00 and gave the company an outperform rating in a research note on Friday, February 10th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, WEX has an average rating of Moderate Buy and a consensus target price of $206.36.

WEX Stock Performance

WEX opened at $169.25 on Thursday. The stock has a market cap of $7.30 billion, a PE ratio of 37.69, a P/E/G ratio of 1.88 and a beta of 1.59. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.53. WEX has a 1 year low of $125.00 and a 1 year high of $204.05. The stock’s 50 day simple moving average is $185.27 and its 200-day simple moving average is $164.68.

Insider Transactions at WEX

In other news, Director Regina O. Sommer sold 1,261 shares of the business’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $190.52, for a total transaction of $240,245.72. Following the completion of the sale, the director now owns 14,272 shares in the company, valued at $2,719,101.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Regina O. Sommer sold 1,261 shares of the business’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $190.52, for a total transaction of $240,245.72. Following the completion of the sale, the director now owns 14,272 shares in the company, valued at $2,719,101.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO David G. Cooper sold 16,639 shares of the business’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $197.00, for a total value of $3,277,883.00. Following the sale, the chief technology officer now owns 6,358 shares of the company’s stock, valued at approximately $1,252,526. The disclosure for this sale can be found here. Insiders sold a total of 26,634 shares of company stock worth $5,126,036 over the last 90 days. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On WEX

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC bought a new stake in shares of WEX in the fourth quarter worth about $25,000. National Bank of Canada FI bought a new stake in shares of WEX in the fourth quarter worth about $26,000. Lindbrook Capital LLC increased its holdings in shares of WEX by 85.6% in 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 in the last quarter. CWM LLC increased its holdings in shares of WEX by 99.2% in the third quarter. CWM LLC now owns 265 shares of the business services provider’s stock worth $34,000 after acquiring an additional 132 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in shares of WEX in the third quarter worth about $34,000. Institutional investors own 98.65% of the company’s stock.

WEX Company Profile

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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.