WEX Inc. (NYSE:WEX) Short Interest Update

WEX Inc. (NYSE:WEX) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 700,900 shares, a decline of 18.8% from the October 31st total of 863,700 shares. Based on an average daily volume of 427,900 shares, the short-interest ratio is currently 1.6 days. Approximately 1.8% of the shares of the stock are sold short.

Insider Buying and Selling at WEX

In other news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents a 6.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WEX

A number of institutional investors have recently modified their holdings of WEX. Janus Henderson Group PLC increased its stake in WEX by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock valued at $873,251,000 after purchasing an additional 25,365 shares in the last quarter. FMR LLC grew its holdings in shares of WEX by 8.8% during the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock valued at $326,237,000 after buying an additional 125,262 shares during the last quarter. State Street Corp increased its position in shares of WEX by 0.3% during the third quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock worth $260,265,000 after acquiring an additional 3,882 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of WEX by 5.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock worth $173,561,000 after acquiring an additional 48,182 shares during the last quarter. Finally, River Road Asset Management LLC lifted its position in WEX by 5.0% in the 3rd quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock valued at $151,103,000 after acquiring an additional 34,264 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Trading Down 0.6 %

NYSE:WEX opened at $188.66 on Monday. WEX has a 12 month low of $165.51 and a 12 month high of $244.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 1.49 and a beta of 1.57. The firm has a fifty day simple moving average of $194.50 and a two-hundred day simple moving average of $187.20.

WEX (NYSE:WEX) last issued its earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. During the same period last year, the business posted $3.44 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts expect that WEX will post 13.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company cut their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Robert W. Baird lowered their target price on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Jefferies Financial Group upped their price objective on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Finally, Bank of America increased their price target on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.91.

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.