WEX (NYSE:WEX) Sees Strong Trading Volume – What’s Next?

WEX Inc. (NYSE:WEX) saw unusually-high trading volume on Wednesday . Approximately 1,020,331 shares changed hands during mid-day 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.

Wall Street Analyst Weigh In

WEX has been the subject of a number of analyst reports. Mizuho cut their price target on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. UBS Group cut their price target on WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Keefe, Bruyette & Woods cut their price target on WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Citigroup lowered WEX from a “buy” rating to a “neutral” rating and cut their price objective for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $195.73.

WEX Trading Up 0.5 %

The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The stock’s fifty day moving average is $165.06 and its 200 day moving average is $180.73. The stock has a market cap of $6.10 billion, a P/E ratio of 20.95, a P/E/G ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating 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 predict that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Institutional Trading of WEX

Several institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in WEX by 0.6% in the third quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock worth $873,251,000 after purchasing an additional 25,365 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in WEX by 105.8% in the fourth 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 last quarter. FMR LLC lifted its stake in WEX by 8.8% in the third 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 last quarter. State Street Corp lifted its stake in WEX by 0.3% in the third 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 last quarter. Finally, Earnest Partners LLC lifted its stake in WEX by 1.0% in the fourth quarter. Earnest Partners LLC now owns 872,734 shares of the business services provider’s stock worth $153,008,000 after purchasing an additional 8,780 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

About WEX

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.