WEX (NYSE:WEX) Sees Strong Trading Volume - Here's What Happened

WEX Inc. (NYSE:WEX - Get Free Report) shares saw an uptick in trading volume on Monday . 446,182 shares changed 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 Analyst Weigh In

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

WEX Trading Down 1.1%

The firm has a fifty day moving average of $137.70 and a 200-day moving average of $150.43. The company has a debt-to-equity ratio of 5.06, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 2.97 and a beta of 1.23.

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

Insider Activity

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

Institutional Trading of WEX

Several institutional investors have recently added to or reduced their stakes in WEX. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of WEX by 282.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 214 shares of the business services provider's stock worth $31,000 after purchasing an additional 158 shares during the last quarter. Inspire Investing LLC lifted its holdings in WEX by 3.5% during the 1st quarter. Inspire Investing LLC now owns 2,588 shares of the business services provider's stock worth $406,000 after buying an additional 87 shares during the last quarter. Jane Street Group LLC grew its position in shares of WEX by 399.9% in the 1st quarter. Jane Street Group LLC now owns 210,707 shares of the business services provider's stock worth $33,085,000 after acquiring an additional 168,558 shares in the last quarter. Optimize Financial Inc bought a new stake in shares of WEX in the 1st quarter valued at approximately $389,000. Finally, Empowered Funds LLC acquired a new stake in shares of WEX during the 1st quarter valued at approximately $394,000. 97.47% of the stock is owned by institutional investors and hedge funds.

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.