WEX (NYSE:WEX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Zacks.com reports. The firm currently has a $214.00 target price on the business services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 5.59% from the stock’s previous close.

According to Zacks, “WEX continues to grow organically driven by extensive network of fuel and service providers, transaction volume growth, product excellence, marketing capabilities, sales force productivity and other strategies. It's U.S. healthcare business is progressing well. The company has been actively acquiring and investing in companies, both in the United States and internationally. Extensive partner network provides WEX with ample opportunities in the market. The stock has outperformed its industry in the past six months. Despite such positives, WEX’s businesses continue to suffer from seasonal changes which causes considerable fluctuations in revenues and makes profit forecasting difficult. Global presence exposes WEX to foreign currency exchange rate fluctuations. High debt may limit the company's expansion and worsen its risk profile.”

Several other brokerages also recently issued reports on WEX. William Blair reissued an “outperform” rating on shares of WEX in a research note on Thursday, March 21st. BTIG Research set a $225.00 price objective on WEX and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Morgan Stanley lifted their price objective on WEX from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. Barclays lifted their price objective on WEX from $222.00 to $238.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Finally, ValuEngine downgraded WEX from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. WEX currently has an average rating of “Buy” and a consensus target price of $209.62.

WEX traded down $0.39 on Friday, hitting $202.67. 316,875 shares of the company’s stock traded hands, compared to its average volume of 280,122. The company has a market capitalization of $8.78 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 1.59 and a beta of 1.55. WEX has a one year low of $131.35 and a one year high of $212.13. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55.

WEX (NYSE:WEX) last issued its earnings results on Thursday, May 2nd. The business services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.19. The company had revenue of $381.90 million for the quarter, compared to the consensus estimate of $379.57 million. WEX had a return on equity of 17.88% and a net margin of 8.84%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $1.81 EPS. Equities research analysts predict that WEX will post 8.62 earnings per share for the current year.

In other news, Director Michael E. Dubyak sold 1,048 shares of WEX stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $204.31, for a total value of $214,116.88. Following the completion of the transaction, the director now owns 33,484 shares in the company, valued at approximately $6,841,116.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael E. Dubyak sold 15,000 shares of WEX stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $200.00, for a total value of $3,000,000.00. Following the completion of the transaction, the director now owns 43,008 shares of the company’s stock, valued at approximately $8,601,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,519 shares of company stock worth $10,982,313. Corporate insiders own 1.12% of the company’s stock.

Several institutional investors have recently made changes to their positions in WEX. Ffcm LLC boosted its holdings in shares of WEX by 50.0% in the 4th quarter. Ffcm LLC now owns 210 shares of the business services provider’s stock worth $29,000 after purchasing an additional 70 shares during the period. Cresset Asset Management LLC boosted its holdings in shares of WEX by 127.8% in the 1st quarter. Cresset Asset Management LLC now owns 205 shares of the business services provider’s stock worth $39,000 after purchasing an additional 115 shares during the period. Advisory Services Network LLC boosted its holdings in shares of WEX by 79.2% in the 4th quarter. Advisory Services Network LLC now owns 405 shares of the business services provider’s stock worth $57,000 after purchasing an additional 179 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of WEX by 20.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 302 shares of the business services provider’s stock worth $58,000 after purchasing an additional 52 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of WEX in the 1st quarter worth approximately $96,000. Hedge funds and other institutional investors own 98.45% 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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