Shares of WEX Inc. (NYSE:WEX) have earned a consensus rating of “Buy” from the seventeen analysts that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $127.09.

A number of research analysts recently commented on WEX shares. Goldman Sachs Group upgraded WEX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $114.00 to $126.00 in a research report on Monday, September 11th. TheStreet upgraded WEX from a “c+” rating to a “b” rating in a research report on Wednesday, November 1st. Credit Suisse Group restated an “outperform” rating on shares of WEX in a research report on Tuesday, September 5th. Oppenheimer raised their price target on WEX from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded WEX from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a research report on Friday, October 13th.

In other WEX news, Director James Neary sold 177,207 shares of WEX stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $120.00, for a total value of $21,264,840.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott Robert Phillips sold 20,000 shares of WEX stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $127.68, for a total value of $2,553,600.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,707 shares of company stock worth $25,305,945. Company insiders own 9.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. World Asset Management Inc boosted its stake in shares of WEX by 0.4% during the second quarter. World Asset Management Inc now owns 2,732 shares of the business services provider’s stock valued at $285,000 after purchasing an additional 12 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of WEX by 0.3% during 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 purchasing an additional 16 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of WEX by 0.8% during 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 purchasing an additional 53 shares in the last quarter. First Bank & Trust boosted its stake in shares of WEX by 5.1% during the second quarter. First Bank & Trust now owns 1,686 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 82 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of WEX by 6.6% during the second quarter. Russell Investments Group Ltd. now owns 1,967 shares of the business services provider’s stock valued at $205,000 after purchasing an additional 122 shares in the last quarter.

Shares of WEX (NYSE WEX) traded up $2.91 during midday trading on Thursday, hitting $129.19. The company had a trading volume of 824,796 shares, compared to its average volume of 405,327. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.20. WEX has a 52 week low of $97.26 and a 52 week high of $130.11. The company has a market capitalization of $5,445.27, a PE ratio of 26.49, a P/E/G ratio of 1.81 and a beta of 1.88.

WEX (NYSE:WEX) last issued its quarterly earnings results on Wednesday, November 1st. The business services provider reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.14. WEX had a return on equity of 13.16% and a net margin of 7.09%. The company had revenue of $324.00 million for the quarter, compared to analysts’ expectations of $312.57 million. During the same quarter last year, the business earned $1.25 earnings per share. WEX’s revenue was up 12.6% on a year-over-year basis. research analysts anticipate that WEX will post 4.89 earnings per share for the current year.

WEX declared that its board has initiated a share buyback plan on Tuesday, September 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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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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