Invenomic Capital Management LP Invests $16.68 Million in WEX Inc. (NYSE:WEX)

Invenomic Capital Management LP acquired a new stake in shares of WEX Inc. (NYSE:WEX) in the 4th quarter, HoldingsChannel reports. The firm acquired 95,123 shares of the business services provider’s stock, valued at approximately $16,677,000.

A number of other large investors have also recently modified their holdings of WEX. Barclays PLC lifted its holdings in shares of WEX by 38.4% in the third quarter. Barclays PLC now owns 21,535 shares of the business services provider’s stock worth $4,516,000 after acquiring an additional 5,972 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of WEX during the third quarter worth $35,000. Fifth Third Wealth Advisors LLC lifted its stake in shares of WEX by 265.1% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,280 shares of the business services provider’s stock valued at $926,000 after acquiring an additional 3,834 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in WEX during the 4th quarter worth $1,168,000. Finally, Radnor Capital Management LLC acquired a new position in WEX in the 4th quarter worth about $331,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Performance

Shares of WEX stock opened at $127.17 on Friday. The firm has a 50 day moving average of $138.41 and a 200-day moving average of $161.92. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $217.47.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.11. WEX had a net margin of 11.78% and a return on equity of 32.35%. The business had revenue of $636.60 million during the quarter, compared to analysts’ expectations of $631.42 million. During the same period last year, the company posted $3.46 earnings per share. The business’s quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts forecast that WEX Inc. will post 14.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WEX shares. Mizuho lowered their price objective on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Wells Fargo & Company decreased their price objective on WEX from $160.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price target on WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Jefferies Financial Group raised their price objective on WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Finally, Citigroup cut WEX from a “buy” rating to a “neutral” rating and reduced their target price for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Nine 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 company has a consensus rating of “Hold” and an average price target of $182.40.

WEX Company 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.