Alliancebernstein L.P. Has $9.37 Million Holdings in WEX Inc. (NYSE:WEX)

Alliancebernstein L.P. reduced its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 6.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,418 shares of the business services provider's stock after selling 3,845 shares during the quarter. Alliancebernstein L.P. owned approximately 0.13% of WEX worth $9,365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of WEX. HighTower Advisors LLC grew its stake in WEX by 79.5% in the 3rd quarter. HighTower Advisors LLC now owns 6,436 shares of the business services provider's stock worth $1,347,000 after acquiring an additional 2,851 shares during the period. EP Wealth Advisors LLC acquired a new position in WEX during the 3rd quarter worth approximately $251,000. Barclays PLC grew its stake in shares of WEX by 38.4% during the third quarter. Barclays PLC now owns 21,535 shares of the business services provider's stock valued at $4,516,000 after acquiring an additional 5,972 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in WEX by 11.6% during the third quarter. Coldstream Capital Management Inc. now owns 1,835 shares of the business services provider's stock worth $377,000 after purchasing an additional 191 shares during the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in WEX in the 3rd quarter worth about $251,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WEX has been the topic of a number of research reports. William Blair reiterated a "market perform" rating on shares of WEX in a report on Thursday, February 6th. Jefferies Financial Group raised their target price on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a report on Wednesday, January 22nd. Mizuho decreased their price objective on shares of WEX from $215.00 to $170.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Robert W. Baird set a $186.00 price target on WEX in a research report on Tuesday, February 18th. Finally, Bank of America lowered shares of WEX from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $187.80.

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WEX Trading Down 0.5 %

Shares of WEX traded down $0.65 during trading hours on Tuesday, hitting $127.03. 128,318 shares of the stock traded hands, compared to its average volume of 539,537. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $239.30. The business has a fifty day moving average of $149.38 and a 200-day moving average of $172.96. 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 market capitalization of $4.35 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. Analysts expect that WEX Inc. will post 14.09 EPS for the current 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.