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

WEX Inc (NYSE:WEX) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,200,800 shares, an increase of 8.4% from the May 15th total of 1,107,400 shares. Currently, 2.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 280,200 shares, the short-interest ratio is presently 4.3 days.

WEX has been the subject of a number of recent analyst reports. William Blair lowered shares of Sabre from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Jefferies Financial Group lowered shares of Alcoa from a “buy” rating to a “hold” rating and lowered their target price for the company from $29.00 to $23.00 in a research note on Thursday. ValuEngine raised shares of WEX from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th. Bank of America reissued a “buy” rating and set a $25.00 target price on shares of Infineon Technologies in a research note on Monday, June 3rd. Finally, Goldman Sachs Group lowered shares of to a “sell” rating and set a GBX 270 ($3.53) price objective for the company. in a research note on Wednesday, June 5th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $218.08.

In other WEX news, Director Michael E. Dubyak sold 15,000 shares of WEX stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $200.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the director now directly owns 43,008 shares of the company’s stock, valued at $8,601,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hilary A. Rapkin sold 1,404 shares of WEX stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $205.00, for a total transaction of $287,820.00. Following the transaction, the insider now directly owns 13,718 shares of the company’s stock, valued at $2,812,190. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,267 shares of company stock worth $8,960,178. Company insiders own 1.12% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of WEX. Vanguard Group Inc increased its holdings in shares of WEX by 3.0% in the 3rd quarter. Vanguard Group Inc now owns 3,840,898 shares of the business services provider’s stock worth $771,098,000 after buying an additional 111,362 shares during the last quarter. LPL Financial LLC boosted its stake in shares of WEX by 48.7% in the 4th quarter. LPL Financial LLC now owns 8,273 shares of the business services provider’s stock valued at $1,159,000 after purchasing an additional 2,711 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of WEX by 23.4% in the 4th quarter. California Public Employees Retirement System now owns 95,791 shares of the business services provider’s stock valued at $13,416,000 after purchasing an additional 18,164 shares in the last quarter. BlackRock Inc. boosted its stake in shares of WEX by 2.3% in the 4th quarter. BlackRock Inc. now owns 3,807,299 shares of the business services provider’s stock valued at $533,248,000 after purchasing an additional 86,873 shares in the last quarter. Finally, Ffcm LLC boosted its stake in shares of WEX by 50.0% in the 4th quarter. Ffcm LLC now owns 210 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 98.49% of the company’s stock.

Shares of WEX traded down $2.83 during mid-day trading on Friday, hitting $216.57. 210,551 shares of the company traded hands, compared to its average volume of 233,738. The firm’s 50 day simple moving average is $205.65. The company has a market capitalization of $9.37 billion, a P/E ratio of 28.35, a PEG ratio of 1.70 and a beta of 1.53. WEX has a 1-year low of $131.35 and a 1-year high of $221.66. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39.

WEX (NYSE:WEX) last issued its earnings results on Thursday, May 2nd. The business services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.19. WEX had a return on equity of 17.88% and a net margin of 8.84%. The business had revenue of $381.90 million for the quarter, compared to analyst estimates of $379.57 million. During the same quarter last year, the company earned $1.81 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts predict that WEX will post 8.62 earnings per share for the current fiscal year.

About WEX

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.

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