WEX (NYSE:WEX) PT Raised to $255.00

WEX (NYSE:WEX) had its price target increased by BTIG Research from $225.00 to $255.00 in a report released on Thursday, The Fly reports. They currently have a buy rating on the business services provider’s stock.

A number of other brokerages have also issued reports on WEX. SunTrust Banks set a $5.00 target price on Northern Oil & Gas and gave the stock a buy rating in a research report on Thursday, March 21st. Morgan Stanley set a $23.00 target price on Murphy Oil and gave the stock a sell rating in a research report on Friday, March 22nd. Zacks Investment Research lowered Zai Lab from a buy rating to a hold rating in a research report on Saturday, June 15th. Deutsche Bank reaffirmed a buy rating and set a GBX 430 ($5.62) target price on shares of in a research report on Friday, June 21st. Finally, Robert W. Baird set a $8.00 price objective on SRC Energy and gave the company a buy rating in a report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. WEX currently has an average rating of Buy and an average target price of $218.08.

Shares of NYSE WEX opened at $216.57 on Thursday. WEX has a 1 year low of $131.35 and a 1 year high of $221.66. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 28.35, a price-to-earnings-growth ratio of 1.70 and a beta of 1.53. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. The stock’s 50-day simple moving average is $205.65.

WEX (NYSE:WEX) last announced its earnings results on Thursday, May 2nd. The business services provider reported $1.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.19. WEX had a return on equity of 17.88% and a net margin of 8.84%. The business had revenue of $381.90 million for the quarter, compared to analyst estimates of $379.57 million. During the same period in the previous year, the company earned $1.81 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, research analysts expect that WEX will post 8.62 EPS for the current fiscal year.

In other news, Director Michael E. Dubyak sold 1,048 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $204.31, for a total transaction of $214,116.88. Following the completion of the transaction, the director now directly owns 33,484 shares of the company’s stock, valued at $6,841,116.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Melissa D. Smith sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total value of $1,025,000.00. Following the transaction, the chief executive officer now directly owns 70,783 shares of the company’s stock, valued at $14,510,515. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,267 shares of company stock valued at $8,960,178. 1.12% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Advisor Group Inc. increased its position in shares of WEX by 26.4% in the fourth quarter. Advisor Group Inc. now owns 1,579 shares of the business services provider’s stock valued at $221,000 after buying an additional 330 shares in the last quarter. Northern Trust Corp increased its position in shares of WEX by 0.6% in the fourth quarter. Northern Trust Corp now owns 341,809 shares of the business services provider’s stock valued at $47,874,000 after buying an additional 1,894 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of WEX by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 349,753 shares of the business services provider’s stock valued at $48,985,000 after buying an additional 5,978 shares in the last quarter. California State Teachers Retirement System increased its position in shares of WEX by 2.4% in the fourth quarter. California State Teachers Retirement System now owns 65,034 shares of the business services provider’s stock valued at $9,109,000 after buying an additional 1,541 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of WEX by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 405,047 shares of the business services provider’s stock valued at $56,730,000 after buying an additional 23,136 shares in the last quarter. 98.49% of the stock is owned by institutional investors.

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.

Featured Article: S&P 500 Index

The Fly

Analyst Recommendations for WEX (NYSE:WEX)

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