Freshford Capital Management LLC Has $12.54 Million Stock Holdings in WEX Inc. (NYSE:WEX)

Freshford Capital Management LLC decreased its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 62.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,499 shares of the business services provider's stock after selling 120,280 shares during the quarter. WEX makes up about 3.6% of Freshford Capital Management LLC's holdings, making the stock its 13th biggest position. Freshford Capital Management LLC owned approximately 0.18% of WEX worth $12,535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of WEX in the third quarter worth $35,000. Jones Financial Companies Lllp lifted its position in WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock worth $43,000 after acquiring an additional 129 shares during the last quarter. UMB Bank n.a. lifted its position in WEX by 552.5% during 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. Quadrant Capital Group LLC boosted its holdings in WEX by 72.2% during the fourth quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider's stock valued at $48,000 after acquiring an additional 114 shares during the period. Finally, Smartleaf Asset Management LLC grew its position 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 valued at $56,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 97.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WEX shares. Keefe, Bruyette & Woods dropped their target price on shares of WEX from $220.00 to $200.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Citigroup downgraded shares of WEX from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Mizuho reduced 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. Wells Fargo & Company lowered their price target on WEX from $180.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Friday, February 7th. Finally, Robert W. Baird set a $186.00 price objective on WEX in a research report on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $187.80.

WEX Stock Performance

WEX opened at $124.10 on Wednesday. The business's 50-day simple moving average is $145.81 and its 200 day simple moving average is $169.67. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $235.20. 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 firm has a market capitalization of $4.25 billion, a PE ratio of 16.55, a PEG ratio of 2.06 and a beta of 1.33.

WEX (NYSE:WEX - Get Free Report) last issued its earnings results 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%. As a group, sell-side analysts expect that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

About WEX

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.

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