WEX Inc. (NYSE:WEX) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of WEX Inc. (NYSE:WEX) from a hold rating to a buy rating in a research note published on Monday, July 24th.

Several other equities analysts have also weighed in on WEX. Zacks Investment Research upgraded shares of WEX from a sell rating to a hold rating and set a $124.00 target price on the stock in a report on Friday, July 14th. TheStreet upgraded shares of WEX from a c rating to a b- rating in a report on Monday, June 5th. Barclays PLC upped their price objective on shares of WEX from $115.00 to $119.00 and gave the stock an equal weight rating in a report on Tuesday, July 18th. William Blair restated an outperform rating on shares of WEX in a report on Wednesday, July 12th. Finally, Jefferies Group LLC restated a buy rating and issued a $135.00 price objective on shares of WEX in a report on Monday, May 15th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $120.56.

Shares of WEX (NYSE WEX) traded up 1.49% during mid-day trading on Monday, reaching $103.39. 370,452 shares of the company’s stock traded hands. The stock has a market capitalization of $4.44 billion, a PE ratio of 62.36 and a beta of 1.80. The company’s 50-day moving average price is $107.66 and its 200-day moving average price is $106.47. WEX has a 12-month low of $93.89 and a 12-month high of $122.91.

WEX (NYSE:WEX) last posted its earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.11. The company had revenue of $303.90 million for the quarter, compared to analyst estimates of $293.91 million. WEX had a net margin of 6.09% and a return on equity of 13.03%. WEX’s revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 EPS. Analysts anticipate that WEX will post $5.27 earnings per share for the current year.

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In other WEX news, SVP Hilary A. Rapkin sold 2,000 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $105.00, for a total transaction of $210,000.00. Following the sale, the senior vice president now directly owns 15,424 shares in the company, valued at approximately $1,619,520. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP George W. Hogan sold 4,500 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 15,615 shares in the company, valued at $1,717,650. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its stake in shares of WEX by 6.1% in the first quarter. Nisa Investment Advisors LLC now owns 26,200 shares of the business services provider’s stock worth $2,712,000 after buying an additional 1,500 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of WEX by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the business services provider’s stock worth $1,004,000 after buying an additional 200 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of WEX during the first quarter worth approximately $600,000. Capstone Asset Management Co. increased its stake in shares of WEX by 8.5% in the first quarter. Capstone Asset Management Co. now owns 3,441 shares of the business services provider’s stock worth $356,000 after buying an additional 270 shares in the last quarter. Finally, CrestPoint Capital Management LLC increased its stake in shares of WEX by 5.0% in the first quarter. CrestPoint Capital Management LLC now owns 2,100 shares of the business services provider’s stock worth $217,000 after buying an additional 100 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.

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