Twinbeech Capital LP Buys New Stake in WEX Inc. (NYSE:WEX)

Twinbeech Capital LP purchased a new position in WEX Inc. (NYSE:WEX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,690 shares of the business services provider's stock, valued at approximately $2,049,000.

A number of other large investors have also made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in shares of 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 acquiring an additional 1,052,087 shares in the last quarter. Earnest Partners LLC increased its stake 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 purchasing an additional 8,780 shares in the last quarter. Lyrical Asset Management LP raised its holdings in shares of WEX by 0.4% in the fourth quarter. Lyrical Asset Management LP now owns 823,434 shares of the business services provider's stock worth $144,364,000 after buying an additional 3,190 shares during the last quarter. River Road Asset Management LLC lifted its stake in shares of WEX by 0.7% during the fourth quarter. River Road Asset Management LLC now owns 725,842 shares of the business services provider's stock worth $127,255,000 after buying an additional 5,377 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of WEX by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 602,693 shares of the business services provider's stock valued at $105,653,000 after buying an additional 18,331 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Price Performance

WEX stock opened at $133.20 on Thursday. The stock has a market capitalization of $4.56 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.06 and a beta of 1.26. The company's fifty day moving average price is $135.65 and its 200 day moving average price is $159.86. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $217.47.

WEX (NYSE:WEX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.11. The business had revenue of $636.60 million for the quarter, compared to analyst estimates of $631.42 million. WEX had a net margin of 11.78% and a return on equity of 32.35%. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.46 earnings per share. As a group, equities research analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WEX. Jefferies Financial Group increased their price objective on shares of WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a research note on Wednesday, January 22nd. Oppenheimer assumed coverage on WEX in a research report on Thursday, May 15th. They set a "market perform" rating on the stock. Keefe, Bruyette & Woods decreased their price objective on WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Wells Fargo & Company dropped their target price on WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, Robert W. Baird set a $186.00 price target on WEX in a report on Tuesday, February 18th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $182.40.

About WEX

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.

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