Goldman Sachs Group, Inc. (The) upgraded shares of WEX Inc. (NYSE:WEX) from a neutral rating to a buy rating in a report released on Monday, Marketbeat Ratings reports. Goldman Sachs Group, Inc. (The) currently has $126.00 price target on the business services provider’s stock, up from their previous price target of $114.00.

Several other research firms also recently issued reports on WEX. Zacks Investment Research upgraded WEX from a sell rating to a hold rating and set a $124.00 price objective on the stock in a report on Friday, July 14th. Barclays PLC reiterated a hold rating and issued a $118.00 price objective on shares of WEX in a report on Wednesday, August 2nd. BidaskClub upgraded WEX from a hold rating to a buy rating in a report on Monday, July 24th. TheStreet downgraded WEX from a b- rating to a c+ rating in a report on Monday, August 14th. Finally, Deutsche Bank AG upgraded WEX from a hold rating to a buy rating and boosted their price objective for the company from $116.00 to $125.00 in a report on Monday, June 5th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $121.91.

Shares of WEX (WEX) opened at 110.31 on Monday. The company’s 50-day moving average price is $106.46 and its 200-day moving average price is $105.13. WEX has a 12 month low of $97.26 and a 12 month high of $122.91. The company has a market cap of $4.73 billion, a P/E ratio of 66.53 and a beta of 1.80.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.11. The firm had revenue of $303.90 million for 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 company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 EPS. Equities analysts forecast that WEX will post $5.27 EPS for the current fiscal year.

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

Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of WEX by 24.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,524,870 shares of the business services provider’s stock worth $367,539,000 after acquiring an additional 701,688 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of WEX by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,228,500 shares of the business services provider’s stock worth $336,635,000 after acquiring an additional 153,106 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of WEX by 1,678.3% during the 2nd quarter. Janus Henderson Group PLC now owns 3,171,873 shares of the business services provider’s stock worth $330,733,000 after acquiring an additional 2,993,511 shares in the last quarter. BlackRock Inc. boosted its position in shares of WEX by 0.7% during the 2nd quarter. BlackRock Inc. now owns 3,065,817 shares of the business services provider’s stock worth $319,673,000 after acquiring an additional 21,065 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C boosted its position in shares of WEX by 18.6% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 3,003,407 shares of the business services provider’s stock worth $313,165,000 after acquiring an additional 471,018 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)

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