Short Interest in WEX Inc. (NYSE:WEX) Increases By 163.1%

WEX Inc. (NYSE:WEX) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 5,130,000 shares, an increase of 163.1% from the March 15th total of 1,950,000 shares. Based on an average daily trading volume, of 973,700 shares, the short-interest ratio is presently 5.3 days. Approximately 13.4% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped their price target on WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Jefferies Financial Group increased their price target on shares of WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Citigroup downgraded shares of WEX from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $190.00 in a research report on Tuesday, January 14th. Mizuho lowered their price target on WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Finally, Robert W. Baird set a $186.00 target price on WEX in a research note on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $187.80.

WEX Price Performance

NYSE:WEX traded down $0.32 during trading hours on Tuesday, reaching $127.36. The company had a trading volume of 380,651 shares, compared to its average volume of 540,488. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The stock has a 50-day moving average of $149.38 and a two-hundred day moving average of $172.96. WEX has a one year low of $110.45 and a one year high of $239.30. The firm has a market capitalization of $4.36 billion, a PE ratio of 16.98, a PEG ratio of 2.06 and a beta of 1.33.

WEX (NYSE:WEX) last announced its earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Analysts forecast that WEX will post 14.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in WEX during the 4th quarter worth approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of WEX during the third quarter worth $35,000. State of Wyoming acquired a new stake in shares of WEX in the fourth quarter valued at $35,000. Jones Financial Companies Lllp raised its holdings in shares of WEX by 108.4% in the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after buying an additional 129 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in WEX by 161.5% during the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider’s stock worth $44,000 after buying an additional 168 shares in the last quarter. Institutional investors own 97.47% of the company’s stock.

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.