WEX (NYSE:WEX) Stock Price Down 7%

WEX Inc. (NYSE:WEX) shares traded down 7% during mid-day trading on Thursday . The company traded as low as $212.00 and last traded at $217.07. 202,257 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 296,253 shares. The stock had previously closed at $233.31.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of WEX from $205.00 to $239.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. StockNews.com downgraded shares of WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Truist Financial boosted their price target on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a report on Friday, February 9th. TheStreet raised WEX from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Finally, Citigroup lifted their price objective on WEX from $240.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, WEX currently has a consensus rating of “Moderate Buy” and an average target price of $240.00.

WEX Trading Down 7.8 %

The firm has a market capitalization of $8.98 billion, a PE 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. The company’s fifty day simple moving average is $230.87 and its 200-day simple moving average is $203.50.

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

Insider Buying and Selling at WEX

In related news, SVP Sara Trickett sold 887 shares of WEX stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other WEX news, SVP Sara Trickett sold 887 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jagtar Narula sold 309 shares of WEX stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the sale, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at $1,289,350.72. 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 quarter. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WEX

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in WEX by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock worth $816,919,000 after purchasing an additional 67,893 shares during the period. Wellington Management Group LLP boosted its stake in shares of WEX by 6.1% during the fourth 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 period. JPMorgan Chase & Co. increased its position in WEX by 4.2% in the 3rd 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 period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in 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 valued at $177,076,000 after acquiring an additional 22,865 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in WEX by 2.9% during the 3rd 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 during the period. 97.47% of the stock is currently owned by hedge funds and other 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.