WEX (NYSE:WEX) had its target price raised by Deutsche Bank from $209.00 to $223.00 in a research note released on Friday, BenzingaRatingsTable reports. Deutsche Bank currently has a buy rating on the business services provider’s stock.

WEX has been the subject of a number of other reports. Zacks Investment Research raised shares of WEX from a sell rating to a hold rating in a research note on Wednesday, March 13th. Morgan Stanley boosted their target price on shares of WEX from $190.00 to $197.00 and gave the stock an equal weight rating in a research note on Friday, March 22nd. Robert W. Baird initiated coverage on shares of WEX in a research note on Thursday, April 4th. They issued a neutral rating and a $220.00 target price for the company. Bank of America initiated coverage on shares of WEX in a research note on Monday, June 3rd. They issued a buy rating and a $220.00 target price for the company. Finally, ValuEngine downgraded shares of WEX from a buy rating to a hold rating in a research note on Monday, June 3rd. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $212.46.

Shares of WEX stock opened at $206.32 on Friday. WEX has a 12-month low of $131.35 and a 12-month high of $212.13. The stock has a market cap of $8.92 billion, a P/E ratio of 27.01, a PEG ratio of 1.62 and a beta of 1.55. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55.

WEX (NYSE:WEX) last announced its earnings results on Thursday, May 2nd. The business services provider reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.19. WEX had a net margin of 8.84% and a return on equity of 17.88%. The company had revenue of $381.90 million during the quarter, compared to the consensus estimate of $379.57 million. During the same period in the previous year, the firm posted $1.81 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. On average, equities research analysts expect that WEX will post 8.62 EPS for the current fiscal year.

In related news, insider Scott Robert Phillips sold 8,298 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total transaction of $1,701,090.00. Following the completion of the sale, the insider now directly owns 9,850 shares of the company’s stock, valued at $2,019,250. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael E. Dubyak sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $200.00, for a total transaction of $3,000,000.00. Following the sale, the director now directly owns 43,008 shares of the company’s stock, valued at $8,601,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,267 shares of company stock valued at $10,935,178. 1.12% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ffcm LLC grew its holdings in WEX by 50.0% during the fourth quarter. Ffcm LLC now owns 210 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 70 shares during the period. Advisory Services Network LLC boosted its holdings in shares of WEX by 79.2% in the fourth quarter. Advisory Services Network LLC now owns 405 shares of the business services provider’s stock valued at $57,000 after buying an additional 179 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of WEX by 20.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 302 shares of the business services provider’s stock valued at $58,000 after buying an additional 52 shares during the period. Rockefeller Capital Management L.P. acquired a new position in shares of WEX in the first quarter valued at approximately $96,000. Finally, Tortoise Index Solutions LLC acquired a new position in shares of WEX in the first quarter valued at approximately $121,000. 98.41% of the stock is owned by institutional investors and hedge funds.

WEX Company Profile

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. 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.

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Analyst Recommendations for WEX (NYSE:WEX)

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