Teacher Retirement System of Texas Boosts Stake in WEX Inc. (NYSE:WEX)

Teacher Retirement System of Texas grew its holdings in WEX Inc. (NYSE:WEX) by 120.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,688 shares of the business services provider’s stock after purchasing an additional 4,746 shares during the period. Teacher Retirement System of Texas’ holdings in WEX were worth $1,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Wilmington Savings Fund Society FSB acquired a new position in WEX in the third quarter valued at about $35,000. Jones Financial Companies Lllp raised its stake in shares of WEX by 108.4% in the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 129 shares during the period. UMB Bank n.a. lifted its holdings in shares of WEX by 552.5% in the 4th quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock worth $46,000 after acquiring an additional 221 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of WEX in the 3rd quarter worth approximately $59,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after purchasing an additional 66 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on WEX shares. William Blair reissued a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Robert W. Baird set a $186.00 price objective on WEX in a report on Tuesday, February 18th. UBS Group lowered their target price on WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Citigroup downgraded WEX from a “buy” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group increased their price target on shares of WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, WEX presently has a consensus rating of “Hold” and an average target price of $187.80.

WEX Stock Down 0.4 %

Shares of NYSE:WEX opened at $154.69 on Friday. WEX Inc. has a fifty-two week low of $146.03 and a fifty-two week high of $244.04. The firm’s 50 day moving average price is $162.27 and its 200 day moving average price is $179.32. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61.

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

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.