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

AXQ Capital LP bought a new stake in WEX Inc. (NYSE:WEX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,018 shares of the business services provider's stock, valued at approximately $354,000.

Several other institutional investors also recently made changes to their positions in WEX. Wilmington Savings Fund Society FSB acquired a new position in WEX during the 3rd quarter valued at approximately $35,000. Jones Financial Companies Lllp lifted its stake in WEX by 108.4% in the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock valued at $43,000 after buying an additional 129 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of WEX by 552.5% during the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock valued at $46,000 after acquiring an additional 221 shares during the period. Smartleaf Asset Management LLC grew its position in shares of WEX by 25.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock worth $56,000 after acquiring an additional 66 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of WEX in the 3rd quarter worth about $59,000. 97.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WEX shares. Barclays reduced their target price on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. UBS Group decreased their price objective on WEX from $200.00 to $172.00 and set a "neutral" rating for the company in a report on Friday, February 7th. Mizuho lowered their target price on WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company reduced their price target on WEX from $180.00 to $160.00 and set an "equal weight" rating for the company in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods lowered their price target on WEX from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $187.80.

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WEX Price Performance

Shares of WEX stock traded up $3.18 during trading on Thursday, hitting $155.91. The stock had a trading volume of 1,959,761 shares, compared to its average volume of 474,245. The business has a fifty day moving average of $163.43 and a two-hundred day moving average of $179.75. The firm has a market cap of $6.05 billion, a P/E ratio of 20.79, a PEG ratio of 2.06 and a beta of 1.61. WEX Inc. has a fifty-two week low of $146.03 and a fifty-two week high of $244.04. 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 issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating 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%. On average, sell-side analysts expect that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

WEX Profile

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.