Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $1.89 Million Stake in Wix.com Ltd. (NASDAQ:WIX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Wix.com Ltd. (NASDAQ:WIX) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,790 shares of the information services provider’s stock after buying an additional 106 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Wix.com were worth $1,886,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WIX. Cullen Frost Bankers Inc. boosted its stake in shares of Wix.com by 9.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock worth $130,000 after acquiring an additional 55 shares in the last quarter. Blue Trust Inc. lifted its holdings in Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock worth $54,000 after purchasing an additional 56 shares during the last quarter. Global Retirement Partners LLC boosted its position in Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after purchasing an additional 58 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Wix.com by 2.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock valued at $502,000 after purchasing an additional 63 shares during the last quarter. Finally, Vestcor Inc raised its position in shares of Wix.com by 8.0% in the fourth quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock valued at $183,000 after purchasing an additional 63 shares during the period. Institutional investors own 81.52% of the company’s stock.

Wix.com Trading Up 0.3 %

Shares of WIX opened at $173.31 on Wednesday. The stock has a market cap of $9.50 billion, a PE ratio of 73.75, a PEG ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11. The stock has a 50 day simple moving average of $209.30 and a 200-day simple moving average of $196.81.

Wix.com declared that its Board of Directors has initiated a share buyback plan on Thursday, February 27th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WIX shares. Piper Sandler raised their target price on shares of Wix.com from $249.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. lowered their price target on Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Bank of America lifted their price objective on Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Raymond James upgraded Wix.com from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $225.00 to $300.00 in a research note on Tuesday, January 21st. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.74.

Wix.com 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.