Crossmark Global Holdings Inc. Sells 774 Shares of WEX Inc. (NYSE:WEX)

Crossmark Global Holdings Inc. trimmed its position in WEX Inc. (NYSE:WEX) by 24.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,444 shares of the business services provider’s stock after selling 774 shares during the period. Crossmark Global Holdings Inc.’s holdings in WEX were worth $429,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Venturi Wealth Management LLC raised 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 valued at $31,000 after purchasing an additional 101 shares during the period. Quarry LP raised its position in WEX by 717.4% in the 2nd quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after purchasing an additional 165 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in WEX during the 3rd quarter valued at about $35,000. UMB Bank n.a. boosted 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 valued at $46,000 after buying an additional 221 shares during the period. Finally, Covestor Ltd increased its stake in shares of WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. 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 report on Wednesday, January 22nd. Bank of America upped their price target on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird reduced their target price on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wells Fargo & Company lowered their price target on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Finally, Citigroup downgraded WEX from a “buy” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $190.00 in a research report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.73.

WEX Stock Down 0.9 %

NYSE:WEX opened at $181.33 on Monday. WEX Inc. has a twelve month low of $165.51 and a twelve month high of $244.04. The stock has a fifty day simple moving average of $179.00 and a 200-day simple moving average of $186.33. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.33 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87.

WEX (NYSE:WEX) last issued its earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.82 by $0.53. The company had revenue of $665.50 million for the quarter, compared to analysts’ expectations of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.44 EPS. Analysts anticipate that WEX Inc. will post 13.08 EPS for the current year.

Insider Buying and Selling

In related news, COO Robert Joseph Deshaies sold 175 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the transaction, the chief operating officer now directly owns 7,582 shares of the company’s stock, valued at $1,436,334.08. This represents a 2.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

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.