WEX Inc. (NYSE:WEX) had its target price lifted by research analysts at Barclays PLC from $115.00 to $119.00 in a note issued to investors on Tuesday. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Barclays PLC’s price objective points to a potential upside of 7.26% from the company’s current price.
WEX has been the topic of several other research reports. Zacks Investment Research lowered WEX from a “hold” rating to a “sell” rating in a research note on Friday, April 7th. BidaskClub lowered WEX from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Jefferies Group LLC restated a “buy” rating and set a $135.00 price objective on shares of WEX in a research report on Friday, May 5th. Deutsche Bank AG raised WEX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $116.00 to $125.00 in a report on Monday, June 5th. Finally, TheStreet raised WEX from a “c” rating to a “b-” rating in a report on Monday, June 5th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $118.10.
WEX (NYSE:WEX) traded up 0.81% during mid-day trading on Tuesday, hitting $111.85. The stock had a trading volume of 156,747 shares. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 70.13 and a beta of 1.80. WEX has a one year low of $89.89 and a one year high of $122.91. The stock’s 50 day moving average price is $103.14 and its 200 day moving average price is $107.51.
WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, April 27th. The business services provider reported $1.13 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.13. The firm had revenue of $291.36 million during the quarter, compared to analysts’ expectations of $281.68 million. WEX had a return on equity of 13.31% and a net margin of 6.07%. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. Analysts forecast that WEX will post $5.32 EPS for the current year.
In other WEX news, SVP Hilary A. Rapkin sold 2,000 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. Following the completion of the transaction, the senior vice president now directly owns 15,424 shares of the company’s stock, valued at $1,619,520. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP George W. Hogan sold 4,500 shares of the stock in a transaction on Wednesday, July 12th. The shares were 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 28,635 shares of company stock valued at $2,916,287 over the last three months. Corporate insiders own 0.86% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of WEX by 15,129.9% in the first quarter. BlackRock Inc. now owns 3,044,752 shares of the business services provider’s stock valued at $315,131,000 after buying an additional 3,024,760 shares during the period. JPMorgan Chase & Co. increased its stake in WEX by 53.8% in the first quarter. JPMorgan Chase & Co. now owns 2,823,182 shares of the business services provider’s stock valued at $292,200,000 after buying an additional 986,969 shares in the last quarter. Norges Bank bought a new stake in WEX during the fourth quarter valued at about $31,752,000. Vanguard Group Inc. increased its stake in WEX by 4.7% in the first quarter. Vanguard Group Inc. now owns 3,075,394 shares of the business services provider’s stock valued at $318,303,000 after buying an additional 137,427 shares in the last quarter. Finally, BTIM Corp. bought a new stake in WEX during the first quarter valued at about $13,981,000.
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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