Shares of WEX Inc. (NYSE:WEX) have been given a consensus recommendation of “Buy” by the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $123.00.

WEX has been the subject of a number of recent research reports. Deutsche Bank AG raised WEX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $116.00 to $125.00 in a research report on Monday, June 5th. BidaskClub cut WEX from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Mizuho initiated coverage on WEX in a research report on Tuesday, June 27th. They set a “buy” rating and a $115.00 price objective for the company. Goldman Sachs Group, Inc. (The) raised WEX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $114.00 to $126.00 in a research report on Monday, September 11th. Finally, Barclays PLC reaffirmed a “hold” rating and set a $118.00 price objective on shares of WEX in a research report on Wednesday, August 2nd.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. WEX had a return on equity of 13.03% and a net margin of 6.09%. The company had revenue of $303.90 million during the quarter, compared to analysts’ expectations of $293.91 million. During the same period last year, the firm earned $1.08 EPS. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis.

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In related news, Director James Neary sold 2,390,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $102.25, for a total value of $244,377,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Hilary A. Rapkin sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $105.00, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 2,396,500 shares of company stock valued at $245,082,500. Company insiders own 0.86% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WEX. BlackRock Inc. increased its stake in WEX by 15,129.9% in the 1st quarter. BlackRock Inc. now owns 3,044,752 shares of the business services provider’s stock valued at $315,131,000 after purchasing an additional 3,024,760 shares in the last quarter. Janus Henderson Group PLC increased its stake in WEX by 1,678.3% in the 2nd quarter. Janus Henderson Group PLC now owns 3,171,873 shares of the business services provider’s stock valued at $330,733,000 after purchasing an additional 2,993,511 shares in the last quarter. JPMorgan Chase & Co. increased its stake in WEX by 53.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,823,182 shares of the business services provider’s stock valued at $292,200,000 after purchasing an additional 986,969 shares in the last quarter. Atlanta Capital Management Co. L L C increased its stake in WEX by 18.6% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 3,003,407 shares of the business services provider’s stock valued at $313,165,000 after purchasing an additional 471,018 shares in the last quarter. Finally, FMR LLC increased its stake in WEX by 40.2% in the 2nd quarter. FMR LLC now owns 1,228,277 shares of the business services provider’s stock valued at $128,072,000 after purchasing an additional 352,040 shares in the last quarter.

About WEX

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.

Analyst Recommendations for WEX (NYSE:WEX)

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