BidaskClub upgraded shares of WEX Inc. (NYSE:WEX) from a sell rating to a hold rating in a research report released on Saturday morning.

Several other research firms also recently commented on WEX. Barclays PLC increased their price objective on WEX from $115.00 to $119.00 and gave the company an equal weight rating in a report on Tuesday, July 18th. Zacks Investment Research raised WEX from a sell rating to a hold rating and set a $124.00 price objective for the company in a report on Friday, July 14th. William Blair reissued an outperform rating on shares of WEX in a report on Wednesday, July 12th. TheStreet raised WEX from a c rating to a b- rating in a report on Monday, June 5th. Finally, Raymond James Financial, Inc. assumed coverage on WEX in a report on Friday. They issued an outperform rating and a $115.00 price objective for the company. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. WEX currently has a consensus rating of Buy and an average target price of $120.91.

Shares of WEX (WEX) opened at 107.24 on Friday. WEX has a 52-week low of $97.26 and a 52-week high of $122.91. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 64.68 and a beta of 1.80. The stock has a 50 day moving average of $107.40 and a 200 day moving average of $105.68.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. The company had revenue of $303.90 million during the quarter, compared to the consensus estimate of $293.91 million. WEX had a return on equity of 13.03% and a net margin of 6.09%. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. Equities analysts predict that WEX will post $5.27 EPS for the current fiscal year.

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In other WEX news, SVP George W. Hogan sold 4,500 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $110.00, for a total transaction of $495,000.00. Following the transaction, the senior vice president now owns 15,615 shares in the company, valued at approximately $1,717,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Neary sold 2,390,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $102.25, for a total value of $244,377,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,396,500 shares of company stock worth $245,082,500. 0.86% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of WEX. State Board of Administration of Florida Retirement System boosted its position in WEX by 1.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 45,148 shares of the business services provider’s stock valued at $4,673,000 after buying an additional 463 shares during the last quarter. 361 Capital LLC boosted its position in WEX by 13.4% in the first quarter. 361 Capital LLC now owns 7,448 shares of the business services provider’s stock valued at $771,000 after buying an additional 879 shares during the last quarter. Tyers Asset Management LLC boosted its position in WEX by 6.1% in the first quarter. Tyers Asset Management LLC now owns 1,540 shares of the business services provider’s stock valued at $159,000 after buying an additional 88 shares during the last quarter. State Treasurer State of Michigan boosted its position in WEX by 0.6% in the first quarter. State Treasurer State of Michigan now owns 15,600 shares of the business services provider’s stock valued at $1,615,000 after buying an additional 100 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in WEX by 8.2% in the first quarter. Great West Life Assurance Co. Can now owns 23,620 shares of the business services provider’s stock valued at $2,444,000 after buying an additional 1,796 shares during the last quarter.

WEX Company Profile

WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.

Analyst Recommendations for WEX (NYSE:WEX)

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