AXQ Capital LP Purchases New Shares in WEX Inc. (NYSE:WEX)

AXQ Capital LP purchased a new stake in shares of WEX Inc. (NYSE:WEX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,018 shares of the business services provider’s stock, valued at approximately $354,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commerce Bank grew its position in WEX by 1.7% during the third quarter. Commerce Bank now owns 3,624 shares of the business services provider’s stock valued at $760,000 after buying an additional 60 shares during the period. CIBC Asset Management Inc grew its position in WEX by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock valued at $225,000 after buying an additional 65 shares during the period. Smartleaf Asset Management LLC grew its position in WEX by 25.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after buying an additional 66 shares during the period. Xponance Inc. grew its position in WEX by 1.4% during the fourth quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock valued at $853,000 after buying an additional 68 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its position in WEX by 0.6% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock valued at $1,959,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Price Performance

Shares of WEX stock opened at $157.11 on Monday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. The firm’s 50-day moving average is $164.79 and its two-hundred day moving average is $180.38. WEX Inc. has a 12 month low of $146.03 and a 12 month high of $244.04. The company has a market capitalization of $6.10 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Analysts predict that WEX Inc. will post 14.09 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on WEX shares. Robert W. Baird set a $186.00 price objective on shares of WEX in a report on Tuesday, February 18th. Jefferies Financial Group increased their price objective on shares of WEX from $180.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. William Blair reaffirmed a “market perform” rating on shares of WEX in a report on Thursday, February 6th. Wells Fargo & Company decreased their price objective on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Finally, Mizuho decreased their price objective on shares of WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $195.73.

WEX 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.