WEX (NYSE:WEX) Sees Unusually-High Trading Volume – Time to Buy?

WEX Inc. (NYSE:WEX) saw unusually-high trading volume on Thursday . Approximately 720,984 shares were traded during trading, an increase of 43% from the previous session’s volume of 504,640 shares.The stock last traded at $151.33 and had previously closed at $161.80.

Analyst Upgrades and Downgrades

WEX has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their target price on WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Robert W. Baird set a $186.00 price objective on WEX in a research report on Tuesday, February 18th. Barclays reduced their target price 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. Wells Fargo & Company lowered their price target on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Finally, Citigroup cut shares of WEX from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $190.00 in a research note on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $187.80.

WEX Trading Down 8.5 %

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 firm has a market capitalization of $5.75 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. The firm has a 50 day moving average price of $160.86 and a two-hundred day moving average price of $178.50.

WEX (NYSE:WEX) last posted its quarterly earnings data 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%. On average, equities research analysts expect that WEX Inc. will post 14.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WEX. Investment Management Corp VA ADV acquired a new position in WEX in the 4th quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new position in WEX during the third quarter valued at approximately $35,000. State of Wyoming acquired a new stake in WEX in the fourth quarter valued at approximately $35,000. Jones Financial Companies Lllp grew 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 worth $43,000 after acquiring an additional 129 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of WEX by 552.5% during the 4th 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 last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

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.