AXQ Capital LP Acquires New Position in WEX Inc. (NYSE:WEX)

AXQ Capital LP acquired a new stake in shares of WEX Inc. (NYSE:WEX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,018 shares of the business services provider’s stock, valued at approximately $354,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in shares of WEX by 0.6% in the 3rd quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock valued at $873,251,000 after purchasing an additional 25,365 shares in the last quarter. FMR LLC lifted its position in shares of WEX by 8.8% in the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock worth $326,237,000 after purchasing an additional 125,262 shares during the period. State Street Corp lifted its position in shares of WEX by 0.3% in the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock worth $260,265,000 after purchasing an additional 3,882 shares during the period. River Road Asset Management LLC lifted its position in shares of WEX by 0.7% in the 4th quarter. River Road Asset Management LLC now owns 725,842 shares of the business services provider’s stock worth $127,255,000 after purchasing an additional 5,377 shares during the period. Finally, Sei Investments Co. lifted its position in shares of WEX by 5.2% in the 4th quarter. Sei Investments Co. now owns 481,490 shares of the business services provider’s stock worth $84,415,000 after purchasing an additional 23,859 shares during the period. Institutional investors own 97.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Robert W. Baird set a $186.00 price target on shares of WEX in a research report on Tuesday, February 18th. Mizuho decreased their target price on shares of WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Citigroup cut shares of WEX from a “buy” rating to a “neutral” rating and decreased their target price for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Finally, UBS Group decreased their target price on shares of WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a research report on Friday, February 7th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $195.73.

WEX Trading Up 0.5 %

Shares of WEX stock opened at $157.11 on Monday. 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 Inc. has a 12-month low of $146.03 and a 12-month high of $244.04. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.06 and a beta of 1.61. The firm’s 50 day simple moving average is $164.79 and its two-hundred day simple moving average is $180.38.

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Analysts predict that WEX Inc. will post 14.09 EPS for the current year.

About WEX

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.