Lyrical Asset Management LP Grows Stock Position in WEX Inc. (NYSE:WEX)

Lyrical Asset Management LP grew its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 823,434 shares of the business services provider's stock after purchasing an additional 3,190 shares during the quarter. WEX makes up 2.2% of Lyrical Asset Management LP's holdings, making the stock its 23rd biggest holding. Lyrical Asset Management LP owned approximately 2.07% of WEX worth $144,364,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WEX. Wilmington Savings Fund Society FSB bought a new position in shares of WEX during the third quarter valued at $35,000. Jones Financial Companies Lllp grew its position in shares of WEX by 108.4% in the 4th 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. increased its stake in shares of WEX by 552.5% in the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock valued at $46,000 after buying an additional 221 shares during the period. Quadrant Capital Group LLC raised its position in shares of WEX by 72.2% during the fourth quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider's stock worth $48,000 after acquiring an additional 114 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of WEX by 25.3% in 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 period. Institutional investors and hedge funds own 97.47% of the company's stock.

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WEX Stock Up 0.2 %

Shares of WEX stock traded up $0.22 during trading hours on Friday, reaching $124.59. The company's stock had a trading volume of 253,684 shares, compared to its average volume of 536,499. The company has a market capitalization of $4.27 billion, a P/E ratio of 16.59, a P/E/G ratio of 2.06 and a beta of 1.33. The stock's fifty day simple moving average is $151.72 and its two-hundred day simple moving average is $174.29. WEX Inc. has a one year low of $110.45 and a one year high of $241.77. 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 released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. On average, research analysts forecast that WEX Inc. will post 14.09 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on WEX. Jefferies Financial Group raised their price target on shares of WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods lowered their target price on shares of WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. UBS Group cut their price target on shares of WEX from $200.00 to $172.00 and set a "neutral" rating on the stock in a research report on Friday, February 7th. Barclays lowered their price objective on WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a research report on Monday, February 10th. Finally, Mizuho cut 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. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, WEX has a consensus rating of "Hold" and a consensus target price of $187.80.

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.