WEX (NYSE:WEX) Sees Strong Trading Volume - Still a Buy?

Shares of WEX Inc. (NYSE:WEX - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 619,473 shares traded hands during trading, an increase of 39% from the previous session's volume of 444,471 shares.The stock last traded at $153.91 and had previously closed at $157.59.

Analyst Ratings Changes

WEX has been the topic of several recent research reports. Bank of America lowered shares of WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Citigroup lowered WEX from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $260.00 to $190.00 in a research note on Tuesday, January 14th. Mizuho decreased their target price on WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a research report on Monday, February 10th. Jefferies Financial Group boosted their price objective on shares of WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, January 22nd. Finally, Barclays cut their price target on WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $187.80.

WEX Trading Down 0.4 %

The business's fifty day simple moving average is $162.27 and its two-hundred day simple moving average is $179.32. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $6.00 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.06 and a beta of 1.61.

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WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping 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, analysts forecast that WEX Inc. will post 14.09 earnings per share for the current year.

Hedge Funds Weigh In On WEX

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 1,052,087 shares during the period. Norges Bank bought a new stake in shares of WEX in the 4th quarter worth about $80,535,000. D. E. Shaw & Co. Inc. boosted its position in WEX by 1,684.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 201,922 shares of the business services provider's stock valued at $35,401,000 after buying an additional 190,605 shares in the last quarter. Ariel Investments LLC increased its holdings in shares of WEX by 113.0% during the fourth quarter. Ariel Investments LLC now owns 318,272 shares of the business services provider's stock worth $55,799,000 after buying an additional 168,832 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of WEX in the fourth quarter valued at approximately $28,689,000. 97.47% of the stock is owned by institutional investors.

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.