Freshford Capital Management LLC Sells 120,280 Shares of WEX Inc. (NYSE:WEX)

Freshford Capital Management LLC reduced its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 62.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,499 shares of the business services provider's stock after selling 120,280 shares during the quarter. WEX accounts for approximately 3.6% of Freshford Capital Management LLC's investment portfolio, making the stock its 13th biggest holding. Freshford Capital Management LLC owned approximately 0.18% of WEX worth $12,535,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of WEX by 38.4% during the 3rd quarter. Barclays PLC now owns 21,535 shares of the business services provider's stock worth $4,516,000 after acquiring an additional 5,972 shares during the last quarter. World Investment Advisors LLC bought a new position in WEX during the third quarter worth $2,507,000. Wilmington Savings Fund Society FSB acquired a new position in shares of WEX in the third quarter valued at $35,000. Fifth Third Wealth Advisors LLC raised its position in shares of WEX by 265.1% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,280 shares of the business services provider's stock valued at $926,000 after purchasing an additional 3,834 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of WEX during the 4th quarter worth about $1,168,000. Institutional investors and hedge funds own 97.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WEX. Wells Fargo & Company lowered their price target on shares of WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday. Robert W. Baird set a $186.00 price target on WEX in a research note on Tuesday, February 18th. Barclays lowered their price objective on WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a research report on Monday, February 10th. Jefferies Financial Group boosted their target price on shares of WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, January 22nd. 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 given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $185.80.

WEX Price Performance

NYSE:WEX traded down $0.71 during mid-day trading on Monday, reaching $129.21. The stock had a trading volume of 170,841 shares, compared to its average volume of 548,594. WEX Inc. has a 12 month low of $110.45 and a 12 month high of $220.32. The stock has a market capitalization of $4.42 billion, a PE ratio of 17.23, a P/E/G ratio of 2.06 and a beta of 1.33. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. The stock has a 50-day simple moving average of $144.15 and a two-hundred day simple moving average of $167.68.

WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping 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%. On average, equities analysts anticipate that WEX Inc. will post 14.09 earnings per share 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.