WEX (NYSE:WEX) Sees Unusually-High Trading Volume – Here’s Why

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

WEX has been the topic of a number of recent analyst reports. Barclays lowered 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. Bank of America downgraded WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Robert W. Baird set a $186.00 price target on WEX in a research report on Tuesday, February 18th. Jefferies Financial Group increased their price target on shares of WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Finally, William Blair reissued a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $187.80.

WEX Price Performance

The stock’s 50 day simple moving average is $163.43 and its 200 day simple moving average is $179.75. 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 has a market capitalization of $6.05 billion, a P/E ratio of 20.79, a P/E/G ratio of 2.06 and a beta of 1.61.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Investment Management Corp VA ADV purchased a new stake in WEX in the 4th quarter worth $25,000. Wilmington Savings Fund Society FSB purchased a new position in WEX during the third quarter worth about $35,000. State of Wyoming purchased a new position in WEX in the fourth quarter worth approximately $35,000. Jones Financial Companies Lllp raised its position in WEX by 108.4% in the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 129 shares during the period. Finally, UMB Bank n.a. raised its holdings in WEX by 552.5% in the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock valued at $46,000 after buying an additional 221 shares during the period. Hedge funds and other 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.