Centiva Capital LP Makes New $399,000 Investment in WEX Inc. (NYSE:WEX)

Centiva Capital LP purchased a new stake in WEX Inc. (NYSE:WEX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,274 shares of the business services provider’s stock, valued at approximately $399,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Captrust Financial Advisors boosted its position in WEX by 22.6% during the 4th quarter. Captrust Financial Advisors now owns 4,271 shares of the business services provider’s stock worth $749,000 after acquiring an additional 786 shares during the last quarter. BNP Paribas Financial Markets grew its position in WEX by 61.9% in the fourth quarter. BNP Paribas Financial Markets now owns 6,825 shares of the business services provider’s stock valued at $1,197,000 after purchasing an additional 2,610 shares in the last quarter. Algert Global LLC increased its stake in WEX by 198.4% in the 4th quarter. Algert Global LLC now owns 25,002 shares of the business services provider’s stock valued at $4,383,000 after buying an additional 16,622 shares during the last quarter. Ariel Investments LLC lifted its position in WEX by 113.0% during the 4th quarter. Ariel Investments LLC now owns 318,272 shares of the business services provider’s stock worth $55,799,000 after buying an additional 168,832 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of WEX during the 4th quarter worth about $1,268,000. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Stock Performance

NYSE:WEX opened at $127.17 on Friday. 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 simple moving average of $138.41 and a 200 day simple moving average of $161.92. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $217.47. The stock has a market cap of $4.35 billion, a P/E ratio of 16.96, a PEG ratio of 2.06 and a beta of 1.26.

WEX (NYSE:WEX) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.11. WEX had a net margin of 11.78% and a return on equity of 32.35%. The company had revenue of $636.60 million during the quarter, compared to analysts’ expectations of $631.42 million. During the same quarter in the previous year, the business posted $3.46 earnings per share. WEX’s quarterly revenue was down 2.5% on a year-over-year basis. Research analysts anticipate that WEX Inc. will post 14.09 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on WEX shares. Citigroup lowered WEX from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Robert W. Baird set a $186.00 target price on shares of WEX in a report on Tuesday, February 18th. UBS Group cut their price target on shares of WEX from $172.00 to $138.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Bank of America lowered shares of WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Finally, Mizuho cut their target price on shares of WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, WEX currently has a consensus rating of “Hold” and an average price target of $182.40.

WEX 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.