WEX Sees Unusually High Options Volume (NYSE:WEX)

WEX Inc (NYSE:WEX) was the target of unusually large options trading activity on Thursday. Investors purchased 8,517 put options on the company. This represents an increase of 2,313% compared to the typical daily volume of 353 put options.

In other news, insider Scott Robert Phillips sold 15,973 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $208.44, for a total transaction of $3,329,412.12. Following the transaction, the insider now directly owns 9,850 shares in the company, valued at $2,053,134. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.12% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Cleararc Capital Inc. purchased a new stake in WEX in the 1st quarter valued at about $213,000. Retirement Systems of Alabama grew its holdings in WEX by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 56,255 shares of the business services provider’s stock valued at $11,707,000 after buying an additional 145 shares during the period. William Blair Investment Management LLC lifted its stake in shares of WEX by 0.7% in the 1st quarter. William Blair Investment Management LLC now owns 859,569 shares of the business services provider’s stock valued at $165,029,000 after purchasing an additional 6,130 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of WEX by 14.5% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,204,643 shares of the business services provider’s stock valued at $231,279,000 after purchasing an additional 152,398 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in shares of WEX by 59.2% in the 4th quarter. Amalgamated Bank now owns 9,675 shares of the business services provider’s stock valued at $1,355,000 after purchasing an additional 3,599 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

WEX has been the subject of several recent research reports. Zacks Investment Research raised WEX from a “hold” rating to a “buy” rating and set a $214.00 price target for the company in a report on Saturday, June 15th. Jefferies Financial Group increased their price target on WEX from $210.00 to $230.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. ValuEngine downgraded WEX from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America assumed coverage on WEX in a report on Monday, June 3rd. They set a “buy” rating and a $220.00 price target for the company. Finally, Morgan Stanley raised their target price on WEX from $197.00 to $204.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $223.00.

Shares of WEX stock traded down $6.35 during mid-day trading on Friday, reaching $200.27. The stock had a trading volume of 216,403 shares, compared to its average volume of 338,862. The company has a market cap of $8.67 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 1.70 and a beta of 1.55. The business has a 50-day simple moving average of $209.27 and a 200 day simple moving average of $196.89. WEX has a 12-month low of $131.35 and a 12-month high of $221.66. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.50.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.20. The firm had revenue of $441.81 million during the quarter, compared to analysts’ expectations of $440.49 million. WEX had a return on equity of 17.88% and a net margin of 6.84%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 EPS. Research analysts anticipate that WEX will post 8.38 EPS for the current year.

WEX Company Profile

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.

Featured Story: What is Elliott Wave theory?

Receive News & Ratings for WEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEX and related companies with MarketBeat.com's FREE daily email newsletter.