WEX Inc. (WEX) Forms Wedge Up; Strong Momentum for Buyers Coming

May 18, 2018 - By Christine Reyes

WEX Inc. (NYSE:WEX) Logo

Investors sentiment decreased to 1.25 in 2017 Q4. Its down 0.77, from 2.02 in 2017Q3. It dropped, as 14 investors sold WEX Inc. shares while 79 reduced holdings. 49 funds opened positions while 67 raised stakes. 45.93 million shares or 1.50% less from 46.62 million shares in 2017Q3 were reported.
Principal Fincl Gru reported 0.02% stake. Oak Ridge Invs Limited Liability reported 1.43% stake. California Pub Employees Retirement Sys holds 0.01% or 65,330 shares. Moreover, Pub Employees Retirement Association Of Colorado has 0.01% invested in WEX Inc. (NYSE:WEX). Moreover, Diversified has 0.03% invested in WEX Inc. (NYSE:WEX) for 3,364 shares. Hermes stated it has 0.96% of its portfolio in WEX Inc. (NYSE:WEX). Profund Advsr Ltd Limited Liability Company reported 4,795 shares or 0.03% of all its holdings. Evercore Wealth Ltd Limited Liability Company, New York-based fund reported 575 shares. Hightower Advsrs Ltd Liability Company has 2,796 shares. Daiwa Grp Inc accumulated 62,167 shares. Moreover, National Bank & Trust Of Ny Mellon has 0.02% invested in WEX Inc. (NYSE:WEX). Geode Cap Ltd invested in 317,451 shares. 24,582 were accumulated by Alliancebernstein L P. State Board Of Administration Of Florida Retirement Sys has 0.02% invested in WEX Inc. (NYSE:WEX). Amg National Tru Savings Bank reported 0.07% stake.

The stock of WEX Inc. (WEX) formed an up wedge with $187.71 target or 4.00 % above today’s $180.49 share price. The 5 months wedge indicates low risk for the $7.78 billion company. If the $187.71 price target is reached, the company will be worth $311.04M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.14% or $0.25 during the last trading session, reaching $180.49. About 337,579 shares traded. WEX Inc. (NYSE:WEX) has risen 49.86% since May 18, 2017 and is uptrending. It has outperformed by 38.31% the S&P500.

Analysts await WEX Inc. (NYSE:WEX) to report earnings on July, 26. They expect $1.85 EPS, up 60.87 % or $0.70 from last year’s $1.15 per share. WEX’s profit will be $79.70 million for 24.39 P/E if the $1.85 EPS becomes a reality. After $1.66 actual EPS reported by WEX Inc. for the previous quarter, Wall Street now forecasts 11.45 % EPS growth.

WEX Inc. (NYSE:WEX) Ratings Coverage

Among 9 analysts covering WEX (NYSE:WEX), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. WEX has $20000 highest and $149 lowest target. $174’s average target is -3.60% below currents $180.49 stock price. WEX had 14 analyst reports since December 21, 2017 according to SRatingsIntel. The rating was maintained by SunTrust with “Buy” on Friday, February 16. Wells Fargo maintained WEX Inc. (NYSE:WEX) rating on Thursday, February 22. Wells Fargo has “Hold” rating and $160.0 target. Mizuho maintained the stock with “Buy” rating in Thursday, January 4 report. The rating was maintained by Credit Suisse on Thursday, February 22 with “Outperform”. The firm earned “Equal-Weight” rating on Thursday, February 22 by Barclays Capital. As per Thursday, March 15, the company rating was maintained by Mizuho. The rating was maintained by Morgan Stanley with “Equal-Weight” on Thursday, February 22. Citigroup upgraded it to “Buy” rating and $20000 target in Thursday, April 26 report. The firm earned “Buy” rating on Thursday, December 21 by Keefe Bruyette & Woods. The stock has “Equal-Weight” rating by Morgan Stanley on Thursday, January 25.

More recent WEX Inc. (NYSE:WEX) news were published by: Businesswire.com which released: “WEX Inc. to Present at the 46th Annual JP Morgan Global Technology, Media and Communications Conference” on May 05, 2018. Also Prnewswire.com published the news titled: “Infinisource Benefit Services wins CDH Platform Partner of the Year Award from WEX Health, Inc.” on May 04, 2018. Businesswire.com‘s news article titled: “WEX Inc. to Release First Quarter 2018 Financial Results on May 3, 2018” with publication date: April 19, 2018 was also an interesting one.

WEX Inc. provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. The company has market cap of $7.78 billion. It operates through three divisions: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. It has a 48.52 P/E ratio. The Fleet Solutions segment offers fleet vehicle payment and transaction processing services.

WEX Inc. (NYSE:WEX) Institutional Positions Chart

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