WEX (NYSE:WEX) Hits New 12-Month Low – What’s Next?

WEX Inc. (NYSE:WEX)’s share price hit a new 52-week low on Thursday . The company traded as low as $160.10 and last traded at $164.25, with a volume of 71855 shares trading hands. The stock had previously closed at $186.78.

Analyst Upgrades and Downgrades

WEX has been the subject of a number of research analyst reports. UBS Group reduced their target price on WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a report on Friday. Keefe, Bruyette & Woods reduced their price objective on WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday. Robert W. Baird lowered their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Citigroup downgraded shares of WEX from a “buy” rating to a “neutral” rating and cut their price objective for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Finally, Wolfe Research lowered shares of WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $210.58.

WEX Price Performance

The stock has a fifty day simple moving average of $178.33 and a 200-day simple moving average of $185.99. The company has a market capitalization of $6.05 billion, a PE ratio of 20.27, a P/E/G ratio of 1.24 and a beta of 1.58. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07.

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, beating analysts’ consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. Equities analysts anticipate that WEX Inc. will post 14.27 earnings per share for the current year.

Insider Buying and Selling at WEX

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the transaction, the chief operating officer now directly owns 7,582 shares of the company’s stock, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of WEX

Hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its holdings in shares of WEX by 40.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 124 shares in the last quarter. Truist Financial Corp raised its holdings in WEX by 21.0% during the second quarter. Truist Financial Corp now owns 2,943 shares of the business services provider’s stock worth $521,000 after purchasing an additional 510 shares during the last quarter. Cetera Investment Advisers grew its holdings in WEX by 4.4% in the second quarter. Cetera Investment Advisers now owns 13,874 shares of the business services provider’s stock valued at $2,458,000 after purchasing an additional 585 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of WEX in the second quarter valued at $397,000. Finally, GAMMA Investing LLC raised its stake in shares of WEX by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after buying an additional 87 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

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.