WEX (WEX) PT Raised to $238.00 at Barclays

WEX (NYSE:WEX) had its target price upped by Barclays from $222.00 to $238.00 in a report released on Monday, BenzingaRatingsTable reports. The firm currently has an overweight rating on the business services provider’s stock.

Other equities research analysts have also issued reports about the company. Mizuho upped their price objective on WEX from $190.00 to $200.00 and gave the stock a buy rating in a research note on Thursday, March 21st. BTIG Research set a $225.00 price target on WEX and gave the stock a buy rating in a research note on Tuesday, April 2nd. William Blair reiterated an outperform rating on shares of WEX in a research note on Thursday, March 21st. SunTrust Banks increased their price target on WEX from $170.00 to $215.00 and gave the stock a buy rating in a research note on Thursday, March 21st. Finally, Robert W. Baird assumed coverage on WEX in a research note on Thursday, April 4th. They issued a neutral rating and a $220.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $203.67.

NYSE:WEX opened at $203.91 on Monday. The company has a quick ratio of 1.47, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $9.00 billion, a PE ratio of 26.69, a P/E/G ratio of 1.64 and a beta of 1.53. WEX has a one year low of $131.35 and a one year high of $212.13.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.53 by $0.19. The firm had revenue of $381.90 million during the quarter, compared to analyst estimates of $379.57 million. WEX had a return on equity of 17.88% and a net margin of 8.84%. WEX’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 EPS. Sell-side analysts expect that WEX will post 8.48 EPS for the current fiscal year.

In other WEX news, insider Hilary A. Rapkin sold 1,404 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $205.00, for a total value of $287,820.00. Following the completion of the sale, the insider now owns 13,718 shares in the company, valued at approximately $2,812,190. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David G. Cooper sold 167 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $186.05, for a total value of $31,070.35. Following the completion of the sale, the insider now owns 14,674 shares of the company’s stock, valued at approximately $2,730,097.70. The disclosure for this sale can be found here. Insiders sold a total of 12,648 shares of company stock valued at $2,492,533 in the last quarter. 4.57% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. First Bank & Trust grew its position in shares of WEX by 3.2% during the fourth quarter. First Bank & Trust now owns 2,053 shares of the business services provider’s stock valued at $288,000 after purchasing an additional 64 shares in the last quarter. Ffcm LLC grew its position in shares of WEX by 50.0% during the fourth quarter. Ffcm LLC now owns 210 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 70 shares in the last quarter. Eukles Asset Management grew its position in shares of WEX by 3.8% during the first quarter. Eukles Asset Management now owns 2,038 shares of the business services provider’s stock valued at $391,000 after purchasing an additional 74 shares in the last quarter. Keybank National Association OH grew its position in shares of WEX by 3.6% during the first quarter. Keybank National Association OH now owns 2,304 shares of the business services provider’s stock valued at $442,000 after purchasing an additional 79 shares in the last quarter. Finally, Montag & Caldwell LLC grew its position in shares of WEX by 4.2% during the first quarter. Montag & Caldwell LLC now owns 2,436 shares of the business services provider’s stock valued at $468,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

WEX Company Profile

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.

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Analyst Recommendations for WEX (NYSE:WEX)

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