Centiva Capital LP Invests $399,000 in WEX Inc. (NYSE:WEX)

Centiva Capital LP acquired a new position in WEX Inc. (NYSE:WEX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,274 shares of the business services provider's stock, valued at approximately $399,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in WEX by 105.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider's stock valued at $358,812,000 after purchasing an additional 1,052,087 shares in the last quarter. Earnest Partners LLC boosted its holdings in WEX by 1.0% during the 4th quarter. Earnest Partners LLC now owns 872,734 shares of the business services provider's stock valued at $153,008,000 after acquiring an additional 8,780 shares during the period. Lyrical Asset Management LP raised its stake in shares of WEX by 0.4% during the fourth quarter. Lyrical Asset Management LP now owns 823,434 shares of the business services provider's stock valued at $144,364,000 after acquiring an additional 3,190 shares in the last quarter. River Road Asset Management LLC increased its position in WEX by 0.7% during the 4th quarter. River Road Asset Management LLC now owns 725,842 shares of the business services provider's stock valued at $127,255,000 after purchasing an additional 5,377 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in WEX by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 602,693 shares of the business services provider's stock worth $105,653,000 after purchasing an additional 18,331 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on WEX. UBS Group cut their target price on shares of WEX from $172.00 to $138.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Robert W. Baird set a $186.00 price objective on WEX in a research note on Tuesday, February 18th. Wells Fargo & Company lowered their price objective on WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Citigroup cut WEX from a "buy" rating to a "neutral" rating and decreased their target price for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group upped their price objective on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research note on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $182.40.

WEX Trading Up 2.2%

Shares of NYSE:WEX traded up $3.02 during trading on Tuesday, reaching $138.21. The stock had a trading volume of 634,659 shares, compared to its average volume of 560,704. WEX Inc. has a fifty-two week low of $110.45 and a fifty-two week high of $217.47. The business has a fifty day moving average price of $137.70 and a 200-day moving average price of $161.31. The stock has a market cap of $4.73 billion, a P/E ratio of 18.43, a PEG 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 (NYSE:WEX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.40 by $0.11. The business had revenue of $636.60 million for the quarter, compared to analysts' expectations of $631.42 million. WEX had a return on equity of 32.35% and a net margin of 11.78%. The company's revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.46 earnings per share. As a group, analysts anticipate that WEX Inc. will post 14.09 earnings per share 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.