WEX (NYSE:WEX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of WEX (NYSE:WEXFree Report) from a hold rating to a buy rating in a research note issued to investors on Friday.

Several other analysts have also recently commented on WEX. Wolfe Research upgraded shares of WEX from a peer perform rating to an outperform rating and set a $240.00 price target on the stock in a research note on Tuesday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of WEX from $205.00 to $239.00 and gave the stock a neutral rating in a research note on Friday. Barclays decreased their price target on shares of WEX from $245.00 to $225.00 and set an overweight rating on the stock in a research note on Monday, October 30th. Morgan Stanley decreased their target price on shares of WEX from $205.00 to $200.00 and set an equal weight rating on the stock in a research report on Friday, October 27th. Finally, Mizuho upped their target price on shares of WEX from $200.00 to $225.00 and gave the company a buy rating in a research report on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $226.25.

Read Our Latest Research Report on WEX

WEX Trading Down 0.7 %

Shares of WEX stock opened at $210.60 on Friday. The company has a market capitalization of $9.00 billion, a P/E ratio of 34.19, a P/E/G ratio of 1.27 and a beta of 1.60. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.03 and a current ratio of 1.05. The company has a fifty day moving average of $196.64 and a 200 day moving average of $189.89. WEX has a fifty-two week low of $161.95 and a fifty-two week high of $213.61.

Insider Buying and Selling

In related news, CEO Melissa D. Smith sold 41,107 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $205.00, for a total value of $8,426,935.00. Following the sale, the chief executive officer now directly owns 81,998 shares of the company’s stock, valued at approximately $16,809,590. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other WEX news, Director Jack Vanwoerkom sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $174.38, for a total value of $348,760.00. Following the transaction, the director now directly owns 8,319 shares in the company, valued at approximately $1,450,667.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Melissa D. Smith sold 41,107 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the transaction, the chief executive officer now owns 81,998 shares in the company, valued at $16,809,590. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WEX

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in WEX by 3.2% during the first quarter. Vanguard Group Inc. now owns 4,196,239 shares of the business services provider’s stock valued at $748,819,000 after buying an additional 131,664 shares during the period. BlackRock Inc. increased its holdings in WEX by 1.2% during the first quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock valued at $732,950,000 after buying an additional 49,480 shares during the period. Wellington Management Group LLP increased its holdings in WEX by 4.2% during the first quarter. Wellington Management Group LLP now owns 4,101,566 shares of the business services provider’s stock valued at $731,925,000 after buying an additional 164,902 shares during the period. Morgan Stanley increased its holdings in WEX by 342.4% during the fourth quarter. Morgan Stanley now owns 2,059,893 shares of the business services provider’s stock valued at $337,102,000 after buying an additional 1,594,294 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in WEX by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 1,336,884 shares of the business services provider’s stock worth $245,840,000 after purchasing an additional 39,312 shares during the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

About WEX

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WEX Inc operates a commerce platform in the United States and internationally. The Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and tools to fleets to manage expenses and capital requirements.

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Analyst Recommendations for WEX (NYSE:WEX)

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