American Century Companies Inc. Sells 322 Shares of Wix.com Ltd. (NASDAQ:WIX)

American Century Companies Inc. decreased its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 5.4% in the fourth quarter, HoldingsChannel reports. The firm owned 5,613 shares of the information services provider’s stock after selling 322 shares during the quarter. American Century Companies Inc.’s holdings in Wix.com were worth $1,204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC grew its stake in Wix.com by 558.5% in the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock worth $101,253,000 after purchasing an additional 400,265 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Wix.com by 90.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 184,099 shares of the information services provider’s stock worth $39,859,000 after buying an additional 87,327 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Wix.com in the 3rd quarter worth about $10,523,000. Proficio Capital Partners LLC bought a new position in shares of Wix.com in the 4th quarter worth about $11,508,000. Finally, Mutual of America Capital Management LLC purchased a new position in Wix.com during the 4th quarter valued at about $8,229,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

WIX stock opened at $155.68 on Friday. The firm has a market cap of $8.73 billion, a PE ratio of 66.25, a PEG ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The firm’s 50 day moving average price is $187.20 and its 200-day moving average price is $196.44.

Wix.com declared that its Board of Directors has approved a stock buyback plan on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WIX shares. Morgan Stanley upgraded Wix.com from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $248.00 to $276.00 in a research note on Monday, January 13th. Jefferies Financial Group cut their target price on Wix.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 price target on shares of Wix.com in a research report on Thursday, February 20th. UBS Group set a $250.00 price objective on shares of Wix.com in a research report on Wednesday, March 5th. Finally, Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $242.53.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.