Teacher Retirement System of Texas raised its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 120.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,688 shares of the business services provider's stock after acquiring an additional 4,746 shares during the period. Teacher Retirement System of Texas' holdings in WEX were worth $1,523,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Fisher Asset Management LLC lifted its position in WEX by 25.0% during the third quarter. Fisher Asset Management LLC now owns 30,840 shares of the business services provider's stock valued at $6,468,000 after purchasing an additional 6,167 shares during the period. Bank of Montreal Can raised its stake in shares of WEX by 68.3% during the 3rd quarter. Bank of Montreal Can now owns 12,438 shares of the business services provider's stock valued at $2,601,000 after buying an additional 5,049 shares during the last quarter. FMR LLC lifted its holdings in shares of WEX by 8.8% in the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider's stock valued at $326,237,000 after buying an additional 125,262 shares during the period. Brooklyn Investment Group purchased a new stake in shares of WEX in the third quarter worth about $59,000. Finally, Townsquare Capital LLC boosted its stake in shares of WEX by 22.6% in the third quarter. Townsquare Capital LLC now owns 4,296 shares of the business services provider's stock worth $901,000 after buying an additional 793 shares during the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.
WEX Price Performance
Shares of WEX traded up $1.07 during mid-day trading on Wednesday, hitting $161.99. 1,032,757 shares of the company were exchanged, compared to its average volume of 503,617. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. WEX Inc. has a 1-year low of $146.03 and a 1-year high of $244.04. The company has a 50 day moving average of $160.86 and a 200-day moving average of $178.50. 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 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%. Analysts expect that WEX Inc. will post 14.09 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. Citigroup downgraded WEX from a "buy" rating to a "neutral" rating and decreased their price target for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Bank of America cut shares of WEX from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Barclays lowered their price target on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a report on Monday, February 10th. William Blair reaffirmed a "market perform" rating on shares of WEX in a report on Thursday, February 6th. Finally, Jefferies Financial Group increased their target price on shares of WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a research note on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, WEX currently has an average rating of "Hold" and an average target price of $187.80.
Get Our Latest Stock Analysis on WEX
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.
Read More
Before you consider WEX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and WEX wasn't on the list.
While WEX currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
