Revenue Update on WEX Inc(NYSE:WEX)

WEX Inc(NYSE:WEX) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 13, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $290.840M. Analysts estimated a revenue of $280.000M. The revenues were 3.87% above the estimates. Earnings per share were $1.28. The reported EPS was above estimates by 2.4%. Analysts had estimated an EPS of $1.25.

In a different note, Citigroup said it Initiates Coverage On WEX Inc, according to a research note issued on Dec 15, 2016. In the research note, the firm Announces the price-target to $120 per share. The shares have been rated ‘Neutral’ by the firm.

WEX Inc (WEX) made into the market gainers list on Wednesdays trading session with the shares advancing 0.23% or 0.26 points. Due to strong positive momentum, the stock ended at $112.32, which is also near the day’s high of $112.67. The stock began the session at $111.45 and the volume stood at 2,77,776 shares. The 52-week high of the shares is $122.91 and the 52 week low is $61.71. The company has a current market capitalization of $4,812 M and it has 4,28,41,000 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jan 3, 2017, Michael E Dubyak (director) sold 5,500 shares at $111.22 per share price.Also, On Nov 2, 2016, George W Hogan (SVP, International) sold 1,950 shares at $103.88 per share price.On Aug 5, 2016, Melissa D Smith (CEO and President, WEX Inc.) sold 5,910 shares at $93.03 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.

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