Wex Inc. (NYSE:WEX) gapped up before the market opened on Monday . The stock had previously closed at $92.36, but opened at $92.68. Wex shares last traded at $93.53, with a volume of 75,110 shares traded.

Several research firms have issued reports on WEX. William Blair reiterated an “outperform” rating on shares of Wex in a research note on Friday, May 6th. Barclays PLC boosted their price objective on shares of Wex from $66.00 to $80.00 and gave the stock an “underweight” rating in a research note on Thursday, April 28th. Morgan Stanley boosted their price objective on shares of Wex from $75.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 28th. Wells Fargo & Co. downgraded shares of Wex from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 28th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Wex from a “sell” rating to a “hold” rating in a research note on Tuesday, April 12th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $87.47.

The firm has a market cap of $3.59 billion and a P/E ratio of 35.19. The firm has a 50 day moving average price of $90.65 and a 200 day moving average price of $81.60.

Wex (NYSE:WEX) last released its quarterly earnings results on Wednesday, April 27th. The company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.09. During the same period in the prior year, the business earned $1.19 EPS. The firm earned $205.90 million during the quarter, compared to the consensus estimate of $199.38 million. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts anticipate that Wex Inc. will post $4.26 EPS for the current fiscal year.

Several large investors recently made changes to their positions in WEX. Janus Capital Management increased its stake in shares of Wex by 65.5% in the third quarter. Janus Capital Management now owns 1,570,948 shares of the company’s stock valued at $136,421,000 after buying an additional 621,512 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Wex by 38.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,449,487 shares of the company’s stock valued at $128,135,000 after buying an additional 399,498 shares in the last quarter. Columbia Wanger Asset Management LLC increased its stake in shares of Wex by 3.4% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 793,216 shares of the company’s stock valued at $70,120,000 after buying an additional 26,074 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Wex by 14.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 288,642 shares of the company’s stock valued at $25,516,000 after buying an additional 36,836 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Wex by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 245,768 shares of the company’s stock valued at $21,727,000 after buying an additional 2,714 shares in the last quarter.

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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