WEX Inc. (NYSE:WEX) Shares Bought by Lyrical Asset Management LP

Lyrical Asset Management LP increased its stake in WEX Inc. (NYSE:WEX) by 0.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 823,434 shares of the business services provider’s stock after acquiring an additional 3,190 shares during the quarter. WEX accounts for about 2.2% of Lyrical Asset Management LP’s portfolio, making the stock its 23rd largest position. Lyrical Asset Management LP’s holdings in WEX were worth $144,364,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in WEX. Wilmington Savings Fund Society FSB bought a new stake in WEX in the third quarter valued at about $35,000. Jones Financial Companies Lllp raised its position in shares of WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 129 shares in the last quarter. UMB Bank n.a. lifted its stake in WEX by 552.5% during the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock worth $46,000 after purchasing an additional 221 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in WEX by 72.2% in the fourth quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider’s stock worth $48,000 after purchasing an additional 114 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake 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 purchasing an additional 66 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on WEX. Barclays reduced their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Jefferies Financial Group raised their target price on shares of WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Wells Fargo & Company lowered their target price on WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Robert W. Baird set a $186.00 price target on WEX in a report on Tuesday, February 18th. Finally, Citigroup lowered WEX from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, WEX currently has a consensus rating of “Hold” and an average target price of $187.80.

WEX Price Performance

NYSE WEX opened at $126.88 on Friday. WEX Inc. has a 12 month low of $124.30 and a 12 month high of $241.84. The firm has a market capitalization of $4.92 billion, a PE ratio of 16.92, a P/E/G ratio of 2.06 and a beta of 1.33. The company’s 50 day simple moving average is $158.97 and its 200 day simple moving average is $177.57. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04.

WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. As a group, equities research analysts forecast that WEX Inc. will post 14.09 EPS for the current fiscal year.

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.