WEX (NYSE:WEX) Sees Large Volume Increase - Here's What Happened

Shares of WEX Inc. (NYSE:WEX - Get Free Report) saw an uptick in trading volume on Wednesday . 1,020,331 shares were traded during mid-day trading, an increase of 145% from the previous session's volume of 416,638 shares.The stock last traded at $155.22 and had previously closed at $155.59.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WEX. Keefe, Bruyette & Woods dropped their price objective on WEX from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Wells Fargo & Company lowered their target price on WEX from $180.00 to $160.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. Citigroup downgraded WEX from a "buy" rating to a "neutral" rating and dropped their price target for the company from $260.00 to $190.00 in a research note on Tuesday, January 14th. UBS Group decreased their price target on shares of WEX from $200.00 to $172.00 and set a "neutral" rating for the company in a research note on Friday, February 7th. Finally, Robert W. Baird set a $186.00 target price on shares of WEX in a report on Tuesday, February 18th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $195.73.

WEX Stock Performance

The company has a market capitalization of $6.10 billion, a P/E ratio of 20.95, a PEG ratio of 2.06 and a beta of 1.61. The stock's fifty day moving average price is $164.79 and its 200-day moving average price is $180.43. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02.

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WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. As a group, research analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal year.

Hedge Funds Weigh In On WEX

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of WEX by 105.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider's stock worth $358,812,000 after acquiring an additional 1,052,087 shares during the period. Norges Bank bought a new position in WEX during the 4th quarter worth $80,535,000. D. E. Shaw & Co. Inc. increased its stake in WEX by 1,684.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 201,922 shares of the business services provider's stock worth $35,401,000 after acquiring an additional 190,605 shares during the period. Ariel Investments LLC raised its holdings in WEX by 113.0% in the 4th quarter. Ariel Investments LLC now owns 318,272 shares of the business services provider's stock valued at $55,799,000 after acquiring an additional 168,832 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in shares of WEX during the 4th quarter valued at $28,689,000. 97.47% of the stock is owned by 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.