Quantbot Technologies LP Acquires New Shares in WEX Inc. (NYSE:WEX)

Quantbot Technologies LP bought a new stake in shares of WEX Inc. (NYSE:WEX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 13,342 shares of the business services provider's stock, valued at approximately $2,339,000.

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in WEX in the third quarter worth $35,000. Jones Financial Companies Lllp raised its holdings in shares of WEX by 108.4% during 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 in the last quarter. UMB Bank n.a. raised its holdings in shares of WEX by 552.5% during the 4th 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 in the last quarter. Smartleaf Asset Management LLC lifted its position in WEX by 25.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock worth $56,000 after buying an additional 66 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in WEX during the third quarter valued at approximately $59,000. Institutional investors own 97.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Mizuho reduced their target price on shares of WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Bank of America downgraded WEX from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. Jefferies Financial Group increased their target price on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a report on Wednesday, January 22nd. UBS Group decreased their price target on WEX from $200.00 to $172.00 and set a "neutral" rating on the stock in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods dropped their price objective on WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $187.80.

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WEX Stock Up 2.1 %

WEX stock traded up $3.18 during trading hours on Thursday, hitting $155.91. 1,959,761 shares of the stock traded hands, compared to its average volume of 474,245. WEX Inc. has a one year low of $146.03 and a one year high of $244.04. The company has a market cap of $6.05 billion, a PE ratio of 20.79, a PEG ratio of 2.06 and a beta of 1.61. The firm's 50-day moving average price is $163.43 and its two-hundred day moving average price is $179.75. 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 (NYSE:WEX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping 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%. On average, research analysts forecast 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.