WCM Investment Management LLC Boosts Stock Holdings in Wix.com Ltd. $WIX

Key Points

• WCM Investment Management LLC significantly increased its stake in Wix.com by 420.2% during the second quarter, acquiring an additional 120,878 shares, bringing its total ownership to 149,643 shares valued at approximately $23.65 million.
• Several institutional investors have shown strong interest in Wix.com, with significant increases in positions, such as Geneos Wealth Management which raised its stake by 632.4% in the first quarter.
• Wix.com recently reported $2.28 EPS for the quarter, which exceeded analysts' expectations, and the board approved a share buyback plan allowing for the repurchase of $200 million in outstanding shares.

WCM Investment Management LLC boosted its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 420.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 149,643 shares of the information services provider's stock after purchasing an additional 120,878 shares during the period. WCM Investment Management LLC owned about 0.27% of Wix.com worth $23,645,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WIX. Northwestern Mutual Wealth Management Co. lifted its position in shares of Wix.com by 63.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider's stock worth $28,000 after acquiring an additional 66 shares in the last quarter. Twin Tree Management LP purchased a new stake in shares of Wix.com during the first quarter worth $29,000. Geneos Wealth Management Inc. lifted its position in shares of Wix.com by 632.4% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider's stock worth $41,000 after acquiring an additional 215 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Wix.com by 47.8% during the second quarter. Blue Trust Inc. now owns 408 shares of the information services provider's stock worth $65,000 after acquiring an additional 132 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its position 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 acquiring an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on WIX. Scotiabank set a $255.00 target price on Wix.com and gave the stock a "sector outperform" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded Wix.com from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 11th. Royal Bank Of Canada restated an "outperform" rating and set a $210.00 target price on shares of Wix.com in a research report on Tuesday, August 19th. Citigroup reaffirmed an "outperform" rating on shares of Wix.com in a report on Tuesday, September 23rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 price target on shares of Wix.com in a report on Wednesday, June 18th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $215.37.

Wix.com Stock Performance

Wix.com stock opened at $135.66 on Thursday. The stock has a market cap of $7.61 billion, a P/E ratio of 48.28, a PEG ratio of 2.57 and a beta of 1.32. Wix.com Ltd. has a fifty-two week low of $114.89 and a fifty-two week high of $247.11. The firm's fifty day moving average price is $148.68 and its 200-day moving average price is $154.70.

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

Wix.com declared that its board has approved a share buyback plan on Monday, August 11th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the information services provider to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are 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.

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