Crossmark Global Holdings Inc. Sells 770 Shares of WEX Inc. (NYSE:WEX)

Crossmark Global Holdings Inc. trimmed its holdings in WEX Inc. (NYSE:WEX) by 31.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,674 shares of the business services provider’s stock after selling 770 shares during the period. Crossmark Global Holdings Inc.’s holdings in WEX were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in WEX. Envestnet Asset Management Inc. raised its holdings in shares of WEX by 1.0% in the first quarter. Envestnet Asset Management Inc. now owns 59,053 shares of the business services provider’s stock valued at $9,272,000 after purchasing an additional 578 shares during the last quarter. Eukles Asset Management raised its holdings in shares of WEX by 18.2% in the first quarter. Eukles Asset Management now owns 3,226 shares of the business services provider’s stock valued at $507,000 after purchasing an additional 497 shares during the last quarter. Lightrock Netherlands B.V. purchased a new stake in shares of WEX in the first quarter valued at about $1,887,000. Palisade Capital Management LP raised its holdings in shares of WEX by 54.3% in the first quarter. Palisade Capital Management LP now owns 8,205 shares of the business services provider’s stock valued at $1,288,000 after purchasing an additional 2,888 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of WEX in the first quarter valued at about $1,327,000. 97.47% of the stock is owned by institutional investors.

WEX Stock Performance

NYSE WEX opened at $150.75 on Monday. The company’s 50 day moving average is $139.72 and its 200-day moving average is $149.88. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.06. The firm has a market cap of $5.16 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 2.96 and a beta of 1.23.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.11. WEX had a net margin of 12.07% and a return on equity of 37.90%. The company had revenue of $636.60 million for the quarter, compared to analyst estimates of $631.42 million. During the same quarter in the previous year, the firm posted $3.46 earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Sell-side analysts predict that WEX Inc. will post 14.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Jefferies Financial Group increased their target price on shares of WEX from $130.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, May 27th. UBS Group lowered their price objective on shares of WEX from $172.00 to $138.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company lowered their price objective on shares of WEX from $160.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, Oppenheimer started coverage on shares of WEX in a research report on Thursday, May 15th. They issued a “market perform” rating on the stock. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, WEX has a consensus rating of “Hold” and a consensus target price of $176.90.

Insider Activity at WEX

In related news, CAO Jennifer Kimball sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $131.08, for a total transaction of $183,512.00. Following the sale, the chief accounting officer owned 3,177 shares of the company’s stock, valued at approximately $416,441.16. This represents a 30.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Melissa D. Smith bought 3,721 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were purchased at an average cost of $134.57 per share, for a total transaction of $500,734.97. Following the acquisition, the chief executive officer directly owned 101,182 shares in the company, valued at $13,616,061.74. This trade represents a 3.82% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

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.