WEX (NYSE:WEX) Sees Strong Trading Volume - What's Next?

WEX Inc. (NYSE:WEX - Get Free Report) shares saw an uptick in trading volume on Monday . 446,182 shares traded hands during trading, a decline of 23% from the previous session's volume of 580,840 shares.The stock last traded at $151.68 and had previously closed at $151.23.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WEX. Wells Fargo & Company decreased their price objective on WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group raised their price objective on shares of WEX from $130.00 to $135.00 and gave the company a "hold" rating in a research report on Tuesday, May 27th. Oppenheimer began coverage on shares of WEX in a research report on Thursday, May 15th. They issued a "market perform" rating for the company. Finally, UBS Group lowered their price objective on shares of WEX from $172.00 to $138.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $176.90.

WEX Trading Up 2.2%

The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.06. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 2.97 and a beta of 1.23. The firm's 50-day moving average is $139.19 and its 200-day moving average is $150.34.

WEX (NYSE:WEX - Get Free Report) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.11. WEX had a return on equity of 37.90% and a net margin of 12.07%. The business had revenue of $636.60 million during the quarter, compared to analyst estimates of $631.42 million. During the same quarter in the previous year, the firm earned $3.46 EPS. The company's quarterly revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal year.

Insider Activity at WEX

In other news, CEO Melissa D. Smith bought 3,721 shares of the business's stock in a transaction on Thursday, May 29th. The stock was acquired at an average price of $134.57 per share, with a total value of $500,734.97. Following the completion of the purchase, the chief executive officer directly owned 101,182 shares in the company, valued at $13,616,061.74. This represents a 3.82% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Jennifer Kimball sold 1,400 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $131.08, for a total value of $183,512.00. Following the completion of the sale, the chief accounting officer owned 3,177 shares of the company's stock, valued at $416,441.16. The trade was a 30.59% decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WEX

A number of hedge funds and other institutional investors have recently made changes to their positions in WEX. Jones Financial Companies Lllp raised its holdings in shares of WEX by 108.4% during the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock valued at $43,000 after acquiring an additional 129 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of WEX by 263.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 491 shares of the business services provider's stock valued at $86,000 after acquiring an additional 356 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of WEX by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 316,682 shares of the business services provider's stock valued at $55,521,000 after acquiring an additional 2,244 shares in the last quarter. Proficio Capital Partners LLC bought a new position in WEX in the fourth quarter worth $7,807,000. Finally, Raymond James Financial Inc. bought a new position in WEX in the fourth quarter worth $12,444,000. Institutional investors 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.