Wells Fargo upgraded shares of WEX Inc (NYSE:WEX) from a market perform rating to an outperform rating in a report published on Friday, The Fly reports.

WEX has been the subject of several other reports. Oppenheimer reissued an outperform rating and set a $103.00 price target on shares of WEX in a research report on Wednesday, December 2nd. Credit Suisse began coverage on WEX in a research report on Thursday, December 10th. They set an outperform rating and a $111.00 price target for the company. Keefe, Bruyette & Woods reduced their price target on WEX from $130.00 to $114.00 and set an outperform rating for the company in a research report on Tuesday, October 6th. Citigroup Inc. increased their price target on WEX from $113.00 to $117.00 and gave the company a buy rating in a research report on Monday, November 2nd. Finally, Topeka Capital Markets reduced their price target on WEX from $110.00 to $92.00 and set a hold rating for the company in a research report on Thursday, October 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $106.08.

In other WEX news, Director Jack Vanwoerkom sold 5,500 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $89.79, for a total transaction of $493,845.00. Following the transaction, the director now owns 17,188 shares in the company, valued at approximately $1,543,310.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP George W. Hogan sold 2,791 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $89.74, for a total value of $250,464.34. Following the transaction, the senior vice president now owns 13,844 shares in the company, valued at approximately $1,242,360.56. The disclosure for this sale can be found here.

An institutional investor recently bought a new position in WEX stock. Saturna Capital acquired a new position in WEX Inc (NYSE:WEX) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 322 shares of the company’s stock, valued at approximately $28,000.

Shares of WEX (NYSE:WEX) opened at 71.94 on Friday. The firm has a market cap of $2.78 billion and a price-to-earnings ratio of 21.79. The company has a 50-day moving average price of $81.42 and a 200 day moving average price of $91.89. WEX has a 52 week low of $65.24 and a 52 week high of $118.97.

WEX (NYSE:WEX) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.42 by $0.13. The company earned $226.10 million during the quarter, compared to analysts’ expectations of $226.36 million. The business’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.56 earnings per share. Analysts expect that WEX will post $4.77 EPS for the current fiscal year.

WEX Inc. is a provider of corporate payment solutions. The Company operates in two segments: Fleet Payment Solutions and Other Payment Solutions. The Company’s Fleet Payment Solutions segment provides customers with fleet vehicle payment processing services for commercial and Government fleets. Its Other Payment Solutions segment comprises its virtual, healthcare, paycard and prepaid products. The Company’s United States operations include the Company and its wholly owned subsidiaries, WEX Bank, FleetOne and Evolution1. Its international operations include its wholly owned subsidiaries, WEX Fuel Cards Australia, WEX Prepaid Cards Australia, WEX New Zealand, WEX Europe Limited, UNIK S.A. and WEX Europe Services Limited and its subsidiaries.

12 Month Chart for NYSE:WEX

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