AlphaQuest LLC Purchases 661 Shares of WEX Inc. (NYSE:WEX)

AlphaQuest LLC lifted its position in WEX Inc. (NYSE:WEX) by 13,220.0% during the 4th quarter, Holdings Channel reports. The firm owned 666 shares of the business services provider’s stock after acquiring an additional 661 shares during the period. AlphaQuest LLC’s holdings in WEX were worth $117,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in WEX. Janus Henderson Group PLC boosted its holdings in WEX by 0.6% in the third quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock valued at $873,251,000 after acquiring an additional 25,365 shares in the last quarter. FMR LLC boosted its holdings in WEX by 8.8% in the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock valued at $326,237,000 after acquiring an additional 125,262 shares in the last quarter. State Street Corp boosted its holdings in WEX by 0.3% in the third quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock valued at $260,265,000 after acquiring an additional 3,882 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in WEX by 8.8% in the fourth quarter. Bank of New York Mellon Corp now owns 374,359 shares of the business services provider’s stock valued at $65,633,000 after acquiring an additional 30,395 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in WEX by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 316,682 shares of the business services provider’s stock valued at $55,521,000 after acquiring an additional 2,244 shares in the last quarter. Institutional investors own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. William Blair reiterated a “market perform” rating on shares of WEX in a report on Thursday, February 6th. Citigroup lowered WEX from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. 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. Keefe, Bruyette & Woods lowered their price objective on WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, Mizuho lowered their price objective on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $195.73.

WEX Price Performance

NYSE WEX opened at $155.49 on Wednesday. WEX Inc. has a one year low of $146.03 and a one year high of $244.04. The stock has a 50-day moving average of $165.84 and a 200 day moving average of $181.08. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 2.06 and a beta of 1.61. 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) last released 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 return on equity of 32.35% and a net margin of 11.78%. On average, sell-side 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.