Truvestments Capital LLC Acquires 78 Shares of WEX Inc. (NYSE:WEX)

Truvestments Capital LLC grew its position in shares of WEX Inc. (NYSE:WEX) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,686 shares of the business services provider’s stock after buying an additional 78 shares during the quarter. Truvestments Capital LLC’s holdings in WEX were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of WEX. Wealthfront Advisers LLC bought a new position in shares of WEX during the 4th quarter worth approximately $28,689,000. FMR LLC lifted its position in shares of WEX by 8.8% during the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock worth $326,237,000 after buying an additional 125,262 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of WEX by 82.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 175,690 shares of the business services provider’s stock worth $36,847,000 after buying an additional 79,252 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of WEX during the 4th quarter worth approximately $12,444,000. Finally, Fisher Asset Management LLC lifted its position in shares of WEX by 168.8% during the 4th quarter. Fisher Asset Management LLC now owns 82,896 shares of the business services provider’s stock worth $14,533,000 after buying an additional 52,056 shares in the last quarter. Institutional investors own 97.47% of the company’s stock.

WEX Stock Down 1.7 %

WEX stock opened at $150.49 on Thursday. WEX Inc. has a 1-year low of $146.03 and a 1-year high of $244.04. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 20.07, a P/E/G 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 firm has a 50 day simple moving average of $168.11 and a 200 day simple moving average of $182.31.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on WEX. Mizuho dropped their target price on shares of WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Jefferies Financial Group raised their price target 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. UBS Group decreased their price target 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. Keefe, Bruyette & Woods decreased their price target on shares of WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Bank of America lowered shares of WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, WEX presently has a consensus rating of “Hold” and an average price target of $195.73.

WEX Company Profile

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.