WEX (NYSE:WEX) Sees Large Volume Increase – What’s Next?

Shares of WEX Inc. (NYSE:WEX) saw unusually-strong trading volume on Tuesday . Approximately 619,473 shares were traded 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.

Analyst Upgrades and Downgrades

WEX has been the topic of several research reports. William Blair reaffirmed a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Robert W. Baird set a $186.00 target price on shares of WEX in a research note on Tuesday, February 18th. Barclays dropped their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Citigroup cut shares of WEX from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods dropped their target price 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, WEX currently has a consensus rating of “Hold” and an average price target of $195.73.

WEX Stock Down 2.8 %

The company has a market capitalization 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 quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The firm has a fifty day simple moving average of $164.45 and a 200-day simple moving average of $180.17.

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

Hedge Funds Weigh In On WEX

Large investors have recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new position in shares of WEX during the fourth quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new position in WEX during the 3rd quarter worth approximately $35,000. State of Wyoming acquired a new position in WEX during the 4th quarter worth approximately $35,000. Jones Financial Companies Lllp grew its stake 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 acquiring an additional 129 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of WEX by 552.5% in the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 221 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.