Invesco Ltd. Purchases 10,496 Shares of Wix.com Ltd. $WIX

Key Points

• Invesco Ltd. increased its stake in Wix.com Ltd. by 18.1%, acquiring an additional 10,496 shares in the first quarter, bringing its total to 68,428 shares valued at approximately $11.18 million.
• Wix.com recently reported quarterly earnings of $2.28 EPS, exceeding analysts' expectations, with revenue of $489.93 million, marking a 12.4% year-over-year increase.
• The company's Board of Directors authorized a $200 million share repurchase plan, indicating their belief that Wix.com's shares are currently undervalued.

Invesco Ltd. increased its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 18.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,428 shares of the information services provider's stock after buying an additional 10,496 shares during the period. Invesco Ltd. owned 0.12% of Wix.com worth $11,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of WIX. TD Private Client Wealth LLC raised its stake in shares of Wix.com by 183.3% during the first quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider's stock worth $78,000 after buying an additional 308 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Wix.com during the first quarter worth approximately $110,000. ASR Vermogensbeheer N.V. bought a new stake in shares of Wix.com during the first quarter worth approximately $115,000. Versant Capital Management Inc raised its stake in shares of Wix.com by 676.1% during the first quarter. Versant Capital Management Inc now owns 714 shares of the information services provider's stock worth $117,000 after buying an additional 622 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Wix.com by 44.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 630 shares of the information services provider's stock worth $135,000 after buying an additional 193 shares during the last quarter. 81.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WIX shares. JPMorgan Chase & Co. decreased their price objective on shares of Wix.com from $189.00 to $166.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Robert W. Baird upgraded shares of Wix.com from a "neutral" rating to an "outperform" rating and decreased their price objective for the company from $215.00 to $190.00 in a report on Friday, May 23rd. B. Riley restated a "buy" rating and set a $230.00 price objective (down previously from $240.00) on shares of Wix.com in a report on Wednesday, May 28th. Scotiabank set a $255.00 price objective on shares of Wix.com and gave the company a "sector outperform" rating in a report on Thursday, August 7th. Finally, Barclays set a $235.00 price objective on shares of Wix.com and gave the company an "overweight" rating in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $215.63.

Wix.com Price Performance

Shares of Wix.com stock traded up $4.73 on Wednesday, hitting $136.38. The company had a trading volume of 1,034,111 shares, compared to its average volume of 973,137. The firm has a market capitalization of $7.65 billion, a P/E ratio of 48.53, a P/E/G ratio of 2.54 and a beta of 1.27. Wix.com Ltd. has a twelve month low of $114.89 and a twelve month high of $247.11. The stock has a 50-day moving average of $145.08 and a 200-day moving average of $163.12.

Wix.com (NASDAQ:WIX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.49. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The company had revenue of $489.93 million during the quarter, compared to analysts' expectations of $487.62 million. During the same quarter in the prior year, the company earned $1.67 earnings per share. The business's quarterly revenue was up 12.4% compared to the same quarter last year. Equities analysts predict that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com declared that its Board of Directors has approved a stock buyback program on Monday, August 11th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Wix.com Company 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.