Truvestments Capital LLC Increases Stake in WEX Inc. (NYSE:WEX)

Truvestments Capital LLC boosted its holdings in WEX Inc. (NYSE:WEX) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,686 shares of the business services provider’s stock after purchasing an additional 78 shares during the quarter. Truvestments Capital LLC’s holdings in WEX were worth $296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WEX. QRG Capital Management Inc. bought a new position in WEX during the third quarter valued at approximately $219,000. Atria Investments Inc raised its position in shares of WEX by 289.0% during the 3rd quarter. Atria Investments Inc now owns 6,528 shares of the business services provider’s stock valued at $1,369,000 after purchasing an additional 4,850 shares during the period. Covestor Ltd raised its position in shares of WEX by 47.3% during the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 89 shares during the period. Crossmark Global Holdings Inc. increased its holdings in WEX by 21.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,218 shares of the business services provider’s stock valued at $675,000 after acquiring an additional 572 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in WEX by 206.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Performance

WEX stock opened at $150.49 on Thursday. The stock has a market cap of $5.84 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The stock has a 50 day moving average of $168.11 and a 200-day moving average of $182.31. WEX Inc. has a 52 week low of $146.03 and a 52 week high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. On average, analysts expect that WEX Inc. will post 14.09 EPS for the current fiscal year.

Analysts Set New Price Targets

WEX has been the subject of a number of recent research reports. Jefferies Financial Group lifted 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. Citigroup lowered shares of WEX from a “buy” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. UBS Group reduced their price objective on shares of WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Barclays cut their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $195.73.

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.