IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases 705 Shares of WEX Inc. (NYSE:WEX)

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in WEX Inc. (NYSE:WEX) by 24.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,574 shares of the business services provider’s stock after buying an additional 705 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in WEX were worth $627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in WEX by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock worth $225,000 after buying an additional 65 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of WEX by 25.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after acquiring an additional 66 shares during the period. Xponance Inc. boosted its holdings in shares of WEX by 1.4% in the fourth quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock worth $853,000 after acquiring an additional 68 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of WEX by 0.6% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock valued at $1,959,000 after purchasing an additional 70 shares in the last quarter. Finally, Truvestments Capital LLC raised its stake in shares of WEX by 4.9% during the 4th quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 78 shares during the period. 97.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WEX has been the subject of a number of recent analyst reports. Mizuho reduced their target price on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Wells Fargo & Company lowered their target price on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Barclays reduced their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Robert W. Baird set a $186.00 price objective on WEX in a report on Tuesday, February 18th. Finally, Citigroup lowered WEX from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $190.00 in a research report on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, WEX presently has a consensus rating of “Hold” and an average price target of $187.80.

WEX Stock Performance

Shares of WEX stock opened at $154.69 on Friday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The company has a market capitalization 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 Inc. has a one year low of $146.03 and a one year high of $244.04. The company’s 50-day moving average is $162.27 and its 200 day moving average is $179.32.

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, topping 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%. Sell-side analysts expect that WEX Inc. will post 14.09 EPS for the current fiscal year.

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.