WEX (NYSE:WEX) Sees Large Volume Increase – Time to Buy?

WEX Inc. (NYSE:WEX) shares saw strong trading volume on Tuesday . 619,473 shares changed hands during trading, an increase of 39% from the previous session’s volume of 444,471 shares.The stock last traded at $153.91 and had previously closed at $157.59.

Analysts Set New Price Targets

A number of analysts recently issued reports on WEX shares. Jefferies Financial Group lifted their target price on WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. William Blair reiterated a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. UBS Group decreased their target price on shares of WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Barclays dropped their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $195.73.

WEX Stock Down 2.8 %

The firm has a market cap of $5.94 billion, a P/E ratio of 20.42, a P/E/G ratio of 2.06 and a beta of 1.61. 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 firm’s fifty day moving average is $164.45 and its 200 day moving average is $180.17.

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

Institutional Investors Weigh In On WEX

Hedge funds and other institutional investors have recently modified their holdings of the company. Investment Management Corp VA ADV acquired a new position in shares of WEX in the fourth quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new stake in WEX in the 3rd quarter valued at about $35,000. State of Wyoming acquired a new position in shares of WEX during the 4th quarter worth approximately $35,000. Jones Financial Companies Lllp grew its position in shares of WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after purchasing an additional 129 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of WEX by 552.5% during the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock worth $46,000 after purchasing an additional 221 shares during the period. Institutional investors and hedge funds 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.