Amundi grew its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 493.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,200 shares of the business services provider's stock after acquiring an additional 12,637 shares during the period. Amundi's holdings in WEX were worth $2,657,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Inceptionr LLC bought a new position in shares of WEX during the fourth quarter valued at about $455,000. Raymond James Financial Inc. bought a new position in shares of WEX during the fourth quarter valued at about $12,444,000. Verdence Capital Advisors LLC raised its stake in shares of WEX by 1.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 20,531 shares of the business services provider's stock valued at $3,599,000 after acquiring an additional 334 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of WEX during the fourth quarter valued at about $7,807,000. Finally, Cornerstone Investment Partners LLC raised its stake in shares of WEX by 3.3% during the fourth quarter. Cornerstone Investment Partners LLC now owns 4,572 shares of the business services provider's stock valued at $802,000 after acquiring an additional 144 shares during the last quarter. 97.47% of the stock is owned by institutional investors.
Analysts Set New Price Targets
WEX has been the subject of a number of research reports. William Blair reissued a "market perform" rating on shares of WEX in a research note on Thursday, February 6th. Mizuho decreased their price target on shares of WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Bank of America downgraded shares of WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Robert W. Baird set a $186.00 price target on shares of WEX in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company decreased 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 note on Friday, February 7th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $195.73.
Read Our Latest Report on WEX
WEX Price Performance
Shares of WEX stock traded up $2.10 on Wednesday, hitting $157.69. 87,391 shares of the stock traded hands, compared to its average volume of 412,696. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.06 and a beta of 1.61. WEX Inc. has a 52 week low of $146.03 and a 52 week high of $244.04. The firm has a 50 day simple moving average of $165.84 and a two-hundred day simple moving average of $181.08. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04.
WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. As a group, equities research analysts predict that WEX Inc. will post 14.09 earnings per share for the current fiscal year.
About WEX
(
Free Report)
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.
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