New South Capital Management Inc. Sells 19,758 Shares of WEX Inc. (NYSE:WEX)

New South Capital Management Inc. decreased its position in shares of WEX Inc. (NYSE:WEX) by 35.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,701 shares of the business services provider’s stock after selling 19,758 shares during the period. New South Capital Management Inc. owned approximately 0.09% of WEX worth $6,259,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC increased its position in shares of WEX by 206.1% in the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after purchasing an additional 101 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of WEX during the third quarter valued at about $35,000. Jones Financial Companies Lllp boosted its stake in shares of WEX by 108.4% during the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 129 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of WEX by 552.5% in the fourth 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 period. Finally, Smartleaf Asset Management LLC lifted its stake 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. Institutional investors own 97.47% of the company’s stock.

WEX Stock Up 0.1 %

WEX stock opened at $154.77 on Thursday. The stock’s fifty day simple moving average is $169.86 and its two-hundred day simple moving average is $183.23. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. WEX Inc. has a 1-year low of $146.03 and a 1-year high of $244.04. The stock has a market cap of $6.01 billion, a P/E ratio of 20.64, a P/E/G ratio of 2.06 and a beta of 1.58.

WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate 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.

Wall Street Analyst Weigh In

WEX has been the subject of a number of research analyst reports. Bank of America downgraded WEX from a “buy” rating to a “neutral” rating in a 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 decreased their price objective on WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Jefferies Financial Group boosted their price objective on WEX from $180.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Finally, William Blair restated a “market perform” rating on shares of WEX in a report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, WEX has a consensus rating of “Hold” and a consensus target price of $195.73.

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.