WEX Inc. (NYSE:WEX) Sees Large Growth in Short Interest

WEX Inc. (NYSE:WEX) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 1,950,000 shares, a growth of 87.5% from the February 28th total of 1,040,000 shares. Approximately 5.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 733,700 shares, the days-to-cover ratio is presently 2.7 days.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Robert W. Baird set a $186.00 price objective on WEX in a research note on Tuesday, February 18th. Jefferies Financial Group boosted their price target on WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Barclays decreased their price objective on WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Bank of America lowered shares of WEX from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company decreased their price target on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, WEX currently has an average rating of “Hold” and an average target price of $187.80.

WEX Price Performance

WEX stock opened at $154.69 on Friday. 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 company has a 50-day moving average price of $162.27 and a 200 day moving average price of $179.32. WEX has a 12-month low of $146.03 and a 12-month high of $244.04. The stock has a market cap of $6.00 billion, a P/E ratio of 20.62, a PEG ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX) last announced its quarterly 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%. Sell-side analysts anticipate that WEX will post 14.09 earnings per share for the current year.

Hedge Funds Weigh In On WEX

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of WEX by 105.8% during the 4th 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 last quarter. Norges Bank acquired a new stake in shares of WEX during the fourth quarter valued at about $80,535,000. D. E. Shaw & Co. Inc. increased its position in shares of WEX by 1,684.2% during 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 acquiring an additional 190,605 shares during the last quarter. Ariel Investments LLC raised its stake in shares of 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 during the period. Finally, Wealthfront Advisers LLC acquired a new position in shares of WEX in the 4th quarter worth approximately $28,689,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

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.