New South Capital Management Inc. Reduces Holdings in WEX Inc. (NYSE:WEX)

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

A number of other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of WEX by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock valued at $873,251,000 after buying an additional 25,365 shares during the last quarter. FMR LLC lifted its position in shares of WEX by 8.8% during the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock valued at $326,237,000 after buying an additional 125,262 shares during the last quarter. State Street Corp raised its stake in shares of WEX by 0.3% during the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock valued at $260,265,000 after purchasing an additional 3,882 shares during the period. Bank of New York Mellon Corp raised its stake in shares of WEX by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 374,359 shares of the business services provider’s stock valued at $65,633,000 after purchasing an additional 30,395 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of WEX by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 316,682 shares of the business services provider’s stock valued at $55,521,000 after purchasing an additional 2,244 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Price Performance

Shares of NYSE WEX opened at $154.77 on Thursday. The firm has a market capitalization 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. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The stock’s 50-day simple moving average is $169.86 and its two-hundred day simple moving average is $183.23. WEX Inc. has a twelve month low of $146.03 and a twelve month high of $244.04.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating 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%. As a group, equities analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal year.

Analyst Ratings Changes

WEX has been the topic of a number of analyst reports. Mizuho decreased their price objective on WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Robert W. Baird set a $186.00 price objective on WEX in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their price objective 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. Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Finally, UBS Group decreased their price objective on WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $195.73.

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.