Wex Inc. (NYSE:WEX) had its price objective upped by Jefferies Group from $114.00 to $120.00 in a research note published on Monday. They currently have a buy rating on the stock.

Several other equities research analysts also recently commented on WEX. Zacks Investment Research raised shares of Wex from a hold rating to a strong-buy rating and set a $107.00 target price for the company in a research note on Tuesday, July 12th. Morgan Stanley upped their target price on shares of Wex from $94.00 to $95.00 and gave the company an equal weight rating in a research note on Thursday, July 28th. Deutsche Bank AG upped their target price on shares of Wex from $83.00 to $90.00 and gave the company a hold rating in a research note on Thursday, July 28th. TheStreet downgraded shares of Wex from a buy rating to a hold rating in a research note on Wednesday, July 27th. Finally, Barclays PLC raised shares of Wex from an underweight rating to an equal weight rating and upped their target price for the company from $80.00 to $98.00 in a research note on Thursday, July 7th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $94.31.

Shares of Wex (NYSE:WEX) opened at 107.07 on Monday. Wex has a 1-year low of $54.42 and a 1-year high of $108.80. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 46.96 and a beta of 1.89. The company has a 50 day moving average of $99.68 and a 200 day moving average of $91.24.

Wex (NYSE:WEX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.06. Wex had a net margin of 10.10% and a return on equity of 14.77%. The business had revenue of $233.90 million for the quarter, compared to analyst estimates of $221.64 million. During the same period in the prior year, the business posted $1.25 earnings per share. Wex’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts forecast that Wex will post $4.31 earnings per share for the current fiscal year.

In related news, SVP Stephen R. Crowley sold 1,808 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $90.95, for a total transaction of $164,437.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Melissa D. Smith sold 5,910 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $93.03, for a total transaction of $549,807.30. Following the transaction, the chief executive officer now owns 55,820 shares of the company’s stock, valued at approximately $5,192,934.60. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in WEX. Wellington Management Group LLP boosted its position in shares of Wex by 3.6% in the first quarter. Wellington Management Group LLP now owns 3,716,443 shares of the company’s stock valued at $309,804,000 after buying an additional 128,178 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Wex by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,789,449 shares of the company’s stock worth $247,341,000 after buying an additional 69,459 shares in the last quarter. Janus Capital Management LLC boosted its stake in shares of Wex by 6.1% in the second quarter. Janus Capital Management LLC now owns 2,335,030 shares of the company’s stock worth $207,047,000 after buying an additional 134,818 shares in the last quarter. Atlanta Capital Management Co. L L C boosted its stake in shares of Wex by 34.0% in the first quarter. Atlanta Capital Management Co. L L C now owns 2,047,845 shares of the company’s stock worth $170,708,000 after buying an additional 519,530 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in shares of Wex by 0.6% in the second quarter. Champlain Investment Partners LLC now owns 1,558,955 shares of the company’s stock worth $138,233,000 after buying an additional 8,945 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

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.

5 Day Chart for NYSE:WEX

Receive News & Ratings for Wex Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wex Inc. and related companies with MarketBeat.com's FREE daily email newsletter.