CenterBook Partners LP Acquires 57,639 Shares of WEX Inc. (NYSE:WEX)

CenterBook Partners LP increased its stake in WEX Inc. (NYSE:WEX - Free Report) by 379.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 72,815 shares of the business services provider's stock after acquiring an additional 57,639 shares during the quarter. WEX makes up 0.8% of CenterBook Partners LP's holdings, making the stock its 25th largest holding. CenterBook Partners LP owned about 0.18% of WEX worth $12,766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. LPL Financial LLC grew its position in WEX by 13.2% during the 4th quarter. LPL Financial LLC now owns 29,408 shares of the business services provider's stock worth $5,283,000 after purchasing an additional 3,439 shares in the last quarter. Fifth Third Bancorp boosted its position in WEX by 1,635.8% during the 4th quarter. Fifth Third Bancorp now owns 8,783 shares of the business services provider's stock worth $1,540,000 after acquiring an additional 8,277 shares during the period. Smartleaf Asset Management LLC grew its stake in WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock valued at $56,000 after acquiring an additional 66 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of WEX by 7.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,008 shares of the business services provider's stock valued at $1,053,000 after purchasing an additional 393 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in shares of WEX by 108.4% in the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock worth $43,000 after purchasing an additional 129 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

A number of brokerages have issued reports on WEX. Jefferies Financial Group lifted their target price on shares of WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research note on Wednesday, January 22nd. Citigroup downgraded WEX from a "buy" rating to a "neutral" rating and cut their price target for the stock from $260.00 to $190.00 in a research note on Tuesday, January 14th. Mizuho lowered their price target on WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. William Blair reaffirmed a "market perform" rating on shares of WEX in a research report on Thursday, February 6th. Finally, Robert W. Baird set a $186.00 target price on shares of WEX in a research report on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $187.80.

WEX Stock Performance

Shares of WEX stock traded up $0.29 during trading on Monday, reaching $126.25. The company's stock had a trading volume of 176,330 shares, compared to its average volume of 539,292. The business's fifty day moving average price is $150.56 and its 200-day moving average price is $173.52. WEX Inc. has a one year low of $110.45 and a one year high of $239.30. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02.

WEX (NYSE:WEX - Get Free Report) last announced its earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) 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%. As a group, equities research analysts predict that WEX Inc. will post 14.09 earnings per share for the current 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.