Invenomic Capital Management LP Makes New Investment in WEX Inc. (NYSE:WEX)

Invenomic Capital Management LP bought a new stake in WEX Inc. (NYSE:WEX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 95,123 shares of the business services provider's stock, valued at approximately $16,677,000. Invenomic Capital Management LP owned approximately 0.24% of WEX as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WEX. Barclays PLC lifted its holdings in shares of WEX by 38.4% in the third quarter. Barclays PLC now owns 21,535 shares of the business services provider's stock valued at $4,516,000 after purchasing an additional 5,972 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in WEX during the third quarter worth $35,000. Fifth Third Wealth Advisors LLC lifted its holdings in WEX by 265.1% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,280 shares of the business services provider's stock worth $926,000 after acquiring an additional 3,834 shares during the period. Assenagon Asset Management S.A. bought a new stake in WEX during the fourth quarter worth $1,168,000. Finally, Radnor Capital Management LLC bought a new stake in WEX during the fourth quarter worth $331,000. Institutional investors own 97.47% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on WEX shares. Keefe, Bruyette & Woods dropped their price target on WEX from $220.00 to $200.00 and set an "outperform" rating on the stock 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. Jefferies Financial Group lifted their price target on WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a report on Wednesday, January 22nd. William Blair reissued a "market perform" rating on shares of WEX in a research report on Thursday, February 6th. Finally, Bank of America downgraded WEX from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, WEX has an average rating of "Hold" and an average price target of $182.40.

WEX Price Performance

NYSE:WEX traded down $2.21 during trading hours on Wednesday, hitting $135.92. 46,950 shares of the company's stock traded hands, compared to its average volume of 558,693. The firm has a market cap of $4.65 billion, a P/E ratio of 18.12, a P/E/G ratio of 2.06 and a beta of 1.26. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $217.47. The business's fifty day simple moving average is $137.70 and its two-hundred day simple moving average is $161.31. 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 issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.11. WEX had a return on equity of 32.35% and a net margin of 11.78%. The firm had revenue of $636.60 million during the quarter, compared to analyst estimates of $631.42 million. During the same quarter in the previous year, the company posted $3.46 earnings per share. The company's revenue was down 2.5% compared to the same quarter last year. On average, research analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

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.