WEX Inc. (NYSE:WEX) Short Interest Up 25.5% in February

WEX Inc. (NYSE:WEXGet Free Report) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 646,800 shares, a growth of 25.5% from the January 31st total of 515,200 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average trading volume of 317,700 shares, the days-to-cover ratio is presently 2.0 days.

Insider Buying and Selling

In related news, CEO Melissa D. Smith sold 41,107 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the transaction, the chief executive officer now owns 81,998 shares of the company’s stock, valued at $16,809,590. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Melissa D. Smith sold 41,107 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $205.00, for a total transaction of $8,426,935.00. Following the transaction, the chief executive officer now owns 81,998 shares of the company’s stock, valued at $16,809,590. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert Joseph Deshaies sold 1,500 shares of WEX stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $221.85, for a total transaction of $332,775.00. Following the sale, the chief operating officer now owns 5,570 shares in the company, valued at approximately $1,235,704.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,399 shares of company stock valued at $14,255,479. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WEX. Mitsubishi UFJ Trust & Banking Corp lifted its position in WEX by 111.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 950 shares of the business services provider’s stock valued at $170,000 after purchasing an additional 500 shares during the period. Bank of Montreal Can raised its position in shares of WEX by 8.1% in the 1st quarter. Bank of Montreal Can now owns 4,181 shares of the business services provider’s stock valued at $732,000 after acquiring an additional 315 shares during the period. BlackRock Inc. raised its position in shares of WEX by 1.2% in the 1st quarter. BlackRock Inc. now owns 4,107,306 shares of the business services provider’s stock valued at $732,950,000 after acquiring an additional 49,480 shares during the period. Great West Life Assurance Co. Can raised its position in shares of WEX by 8.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 24,375 shares of the business services provider’s stock valued at $4,471,000 after acquiring an additional 1,824 shares during the period. Finally, Sei Investments Co. raised its position in shares of WEX by 38.3% in the 1st quarter. Sei Investments Co. now owns 21,260 shares of the business services provider’s stock valued at $3,793,000 after acquiring an additional 5,884 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Price Performance

NYSE:WEX traded up $1.87 during mid-day trading on Monday, reaching $221.99. 260,601 shares of the company were exchanged, compared to its average volume of 338,535. WEX has a 12 month low of $161.95 and a 12 month high of $224.61. The company has a fifty day moving average of $206.18 and a 200 day moving average of $192.69. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55. The stock has a market cap of $9.27 billion, a PE ratio of 36.28, a PEG ratio of 1.42 and a beta of 1.59.

WEX (NYSE:WEXGet Free Report) last released its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a net margin of 10.46% and a return on equity of 31.33%. The business had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. On average, research analysts anticipate that WEX will post 13.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WEX shares. Barclays lifted their price target on shares of WEX from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. TheStreet upgraded shares of WEX from a “c” rating to a “b” rating in a research note on Thursday, February 8th. StockNews.com downgraded shares of WEX from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th. Mizuho boosted their target price on shares of WEX from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, JPMorgan Chase & Co. boosted 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. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $227.08.

View Our Latest Stock Analysis on WEX

WEX Company Profile

(Get Free Report)

WEX Inc operates a commerce platform in the United States and internationally. The Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account 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 tools to fleets to manage expenses and capital requirements.

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