Does This Provide a Reason to Buy WEX Inc. (WEX)? The Stock Has Formed Bullish Wedge Up Pattern

May 23, 2018 - By Kurt Siggers

WEX Inc. (NYSE:WEX) Logo

Investors sentiment decreased to 1.25 in Q4 2017. Its down 0.77, from 2.02 in 2017Q3. It fall, 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.
Eaton Vance holds 0% of its portfolio in WEX Inc. (NYSE:WEX) for 2,146 shares. State Common Retirement Fund reported 88,600 shares. Geode Cap Limited Liability, Massachusetts-based fund reported 317,451 shares. Psagot House invested 0% of its portfolio in WEX Inc. (NYSE:WEX). Private Advisor Grp Inc Limited Liability Co owns 1,470 shares or 0.01% of their US portfolio. Champlain Invest Partners Ltd Co invested in 1.21 million shares or 1.93% of the stock. Wells Fargo And Mn reported 1.15 million shares. Sei Invs Communication accumulated 131,683 shares. Quantitative Inv Ltd, a Virginia-based fund reported 47,000 shares. Spears Abacus Advsrs Limited Liability Co reported 0.03% of its portfolio in WEX Inc. (NYSE:WEX). Victory Cap Management reported 0.09% in WEX Inc. (NYSE:WEX). Goldman Sachs Grp Inc accumulated 0.01% or 229,860 shares. Employees Retirement Sys Of Texas reported 44,000 shares or 0.08% of all its holdings. Logan Capital Management has invested 0.1% of its portfolio in WEX Inc. (NYSE:WEX). Great West Life Assurance Can reported 23,381 shares.

The stock of WEX Inc. (WEX) formed an up wedge with $186.84 target or 5.00 % above today’s $177.94 share price. The 6 months wedge indicates low risk for the $7.67 billion company. If the $186.84 price target is reached, the company will be worth $383.30M 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 2.98% or $5.47 during the last trading session, reaching $177.94. About 309,057 shares traded. WEX Inc. (NYSE:WEX) has risen 49.86% since May 23, 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 $79.70M for 24.05 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 -2.21% below currents $177.94 stock price. WEX had 14 analyst reports since December 21, 2017 according to SRatingsIntel. The company was maintained on Friday, May 4 by Morgan Stanley. Barclays Capital maintained the shares of WEX in report on Thursday, February 22 with “Equal-Weight” rating. On Thursday, February 22 the stock rating was maintained by Wells Fargo with “Hold”. The company was maintained on Thursday, March 15 by Mizuho. The firm has “Buy” rating by Keefe Bruyette & Woods given on Thursday, December 21. The company was upgraded on Thursday, April 26 by Citigroup. SunTrust maintained WEX Inc. (NYSE:WEX) rating on Friday, February 16. SunTrust has “Buy” rating and $160.0 target. Credit Suisse maintained the shares of WEX in report on Wednesday, January 17 with “Buy” rating. The rating was maintained by Morgan Stanley on Wednesday, March 14 with “Equal-Weight”. The firm has “Equal-Weight” rating given on Thursday, January 25 by Morgan Stanley.

More important recent WEX Inc. (NYSE:WEX) news were published by: Prnewswire.com which released: “WEX and Raízen establish a partnership to exploit the freight sector; segment amounts to BRL 100 billion/year spend in …” on April 25, 2018, also Prnewswire.com published article titled: “Infinisource Benefit Services wins CDH Platform Partner of the Year Award from WEX Health, Inc.”, Streetinsider.com published: “Wex, Inc. (WEX) Tops Q1 EPS by 8c, Beats on Revenues; FY18 EPS/Revenue Outlook Above Consensus” on May 03, 2018. More interesting news about WEX Inc. (NYSE:WEX) was released by: Businesswire.com and their article: “WEX Inc. to Present at the 46th Annual JP Morgan Global Technology, Media and Communications Conference” with publication date: May 05, 2018.

WEX Inc. provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. The company has market cap of $7.67 billion. It operates through three divisions: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. It has a 47.83 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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