WEX (NYSE:WEX) Sees Large Volume Increase – Here’s What Happened

WEX Inc. (NYSE:WEX) saw unusually-high trading volume on Wednesday . Approximately 1,020,331 shares traded hands during trading, an increase of 145% from the previous session’s volume of 416,638 shares.The stock last traded at $155.22 and had previously closed at $155.59.

Analyst Ratings Changes

WEX has been the topic of several analyst reports. UBS Group cut their price target on shares of WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Barclays cut their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Keefe, Bruyette & Woods cut their price target on shares of WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Citigroup cut shares of WEX from a “buy” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Finally, Bank of America cut shares of WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $195.73.

WEX Trading Down 0.2 %

The firm’s 50-day moving average price is $165.84 and its 200-day moving average price is $181.08. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The company has a market cap of $6.03 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX) last posted its earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. As a group, equities research analysts expect that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WEX

A number of institutional investors have recently made changes to their positions in WEX. Janus Henderson Group PLC grew its holdings in shares of WEX by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock valued at $873,251,000 after purchasing an additional 25,365 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of WEX by 105.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider’s stock worth $358,812,000 after purchasing an additional 1,052,087 shares during the period. FMR LLC lifted its position in shares of WEX by 8.8% in the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock worth $326,237,000 after purchasing an additional 125,262 shares during the period. State Street Corp lifted its position in shares of WEX by 0.3% in the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock worth $260,265,000 after purchasing an additional 3,882 shares during the period. Finally, Earnest Partners LLC lifted its position in WEX by 1.0% during the 4th quarter. Earnest Partners LLC now owns 872,734 shares of the business services provider’s stock valued at $153,008,000 after acquiring an additional 8,780 shares during the period. Institutional investors own 97.47% of the company’s stock.

WEX Company Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation 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 offerings.