WEX (NYSE:WEX) Trading Down 7%

WEX Inc. (NYSE:WEX)’s share price was down 7% during trading on Thursday . The stock traded as low as $212.00 and last traded at $217.07. Approximately 202,257 shares were traded during trading, a decline of 32% from the average daily volume of 296,253 shares. The stock had previously closed at $233.31.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WEX. Truist Financial boosted their price target on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Robert W. Baird upped their target price on shares of WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. William Blair reissued an “outperform” rating on shares of WEX in a report on Thursday, February 8th. Mizuho upped their price objective on shares of WEX from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of WEX from $205.00 to $239.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, WEX presently has an average rating of “Moderate Buy” and a consensus target price of $240.00.

WEX Stock Performance

The stock’s 50 day moving average is $230.87 and its two-hundred day moving average is $203.50. The firm has a market capitalization of $8.98 billion, a P/E ratio of 35.39, a P/E/G ratio of 1.51 and a beta of 1.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The company had revenue of $663.30 million during the quarter, compared to analyst estimates of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. As a group, equities analysts anticipate that WEX Inc. will post 13.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Sara Trickett sold 887 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $224.61, for a total value of $199,229.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Jennifer Kimball sold 574 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $222.24, for a total transaction of $127,565.76. Following the completion of the transaction, the chief accounting officer now directly owns 1,297 shares of the company’s stock, valued at $288,245.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sara Trickett sold 887 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The disclosure for this sale can be found here. Insiders have sold 28,326 shares of company stock valued at $6,281,961 in the last 90 days. 1.10% of the stock is owned by insiders.

Institutional Trading of WEX

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in WEX by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock valued at $816,919,000 after purchasing an additional 67,893 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of WEX by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after buying an additional 179,813 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of WEX by 4.2% in the third quarter. JPMorgan Chase & Co. now owns 1,324,624 shares of the business services provider’s stock valued at $249,149,000 after acquiring an additional 52,897 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of WEX by 2.7% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock worth $177,076,000 after purchasing an additional 22,865 shares during the last quarter. Finally, Jennison Associates LLC raised its position in WEX by 2.9% during the third quarter. Jennison Associates LLC now owns 558,147 shares of the business services provider’s stock worth $104,982,000 after acquiring an additional 15,797 shares in the last quarter. 97.47% of the stock is currently 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.