WEX Inc (WEX) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Apr 28, 2016.
Many Wall Street Analysts have commented on WEX Inc. WEX Inc was Upgraded by JP Morgan to ” Neutral” on Apr 29, 2016. Compass Point Initiated WEX Inc on Apr 15, 2016 to “Neutral”, Price Target of the shares are set at $81.Shares were Reiterated by Oppenheimer on Feb 9, 2016 to “Outperform” and Lowered the Price Target to $ 78 from a previous price target of $85 .
On the company’s financial health, WEX Inc reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.86. The company had revenue of $205.90 million for the quarter, compared to analysts expectations of $199.87 million. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS.
WEX Inc opened for trading at $92.07 and hit $96.47 on the upside on Wednesday, eventually ending the session at $95.67, with a gain of 6.01% or 5.42 points. The heightened volatility saw the trading volume jump to 5,86,631 shares. Company has a market cap of $3,697 M.
In a different news, on Mar 2, 2016, Michael E Dubyak (director) purchased 3,800 shares at $66.37 per share price. According to the SEC, on Nov 3, 2015, George W Hogan (SVP, International) sold 2,791 shares at $89.74 per share price. On Nov 3, 2015, Jack Vanwoerkom (director) sold 5,500 shares at $89.79 per share price, according to the Form-4 filing with the securities and exchange commission.
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.