WEX Inc. (NYSE:WEX) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday.

WEX has been the subject of several other research reports. William Blair reissued an “outperform” rating on shares of WEX in a research report on Wednesday, July 12th. Raymond James Financial, Inc. assumed coverage on WEX in a research report on Friday. They set an “outperform” rating and a $115.00 price objective for the company. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $120.00 price objective on shares of WEX in a research report on Thursday, August 10th. Jefferies Group LLC reissued a “buy” rating and set a $135.00 price objective on shares of WEX in a research report on Monday, May 15th. Finally, Mizuho assumed coverage on WEX in a research report on Tuesday, June 27th. They set a “buy” rating and a $115.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $120.91.

WEX (NYSE WEX) opened at 106.57 on Friday. The firm has a market capitalization of $4.57 billion, a P/E ratio of 64.28 and a beta of 1.80. The stock’s 50 day moving average price is $107.40 and its 200-day moving average price is $105.68. WEX has a 12 month low of $97.26 and a 12 month high of $122.91.

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

TRADEMARK VIOLATION WARNING: This article was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://www.thecerbatgem.com/2017/08/28/wex-inc-wex-stock-rating-upgraded-by-bidaskclub.html.

In related news, SVP George W. Hogan sold 4,500 shares of the business’s stock in a transaction dated 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 directly owns 15,615 shares in the company, valued at $1,717,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Hilary A. Rapkin sold 2,000 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the transaction, the senior vice president now owns 15,424 shares in the company, valued at $1,619,520. The disclosure for this sale can be found here. Insiders have sold 2,396,500 shares of company stock worth $245,082,500 over the last 90 days. Corporate insiders own 0.86% of the company’s stock.

Several large investors have recently added to or reduced their stakes in WEX. World Asset Management Inc raised its stake in WEX by 0.4% in the second quarter. World Asset Management Inc now owns 2,732 shares of the business services provider’s stock valued at $285,000 after buying an additional 12 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in WEX by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,634 shares of the business services provider’s stock valued at $587,000 after buying an additional 16 shares in the last quarter. Diversified Trust Co raised its stake in WEX by 0.5% in the second quarter. Diversified Trust Co now owns 5,175 shares of the business services provider’s stock valued at $540,000 after buying an additional 25 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in WEX by 0.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,681 shares of the business services provider’s stock valued at $592,000 after buying an additional 53 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in WEX by 5.9% in the first quarter. Whittier Trust Co. now owns 1,027 shares of the business services provider’s stock valued at $106,000 after buying an additional 57 shares in 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)

Receive News & Stock Ratings for WEX Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEX Inc. and related stocks with our FREE daily email newsletter.