Crossmark Global Holdings Inc. trimmed its holdings in WEX Inc (NYSE:WEX) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,458 shares of the business services provider’s stock after selling 350 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in WEX were worth $624,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Ipswich Investment Management Co. Inc. acquired a new position in WEX in the fourth quarter valued at approximately $32,000. TRUE Private Wealth Advisors acquired a new position in WEX in the third quarter valued at approximately $103,000. Mondrian Capital Management LLC acquired a new position in WEX in the fourth quarter valued at approximately $140,000. Cerebellum GP LLC boosted its holdings in WEX by 12.4% in the fourth quarter. Cerebellum GP LLC now owns 1,061 shares of the business services provider’s stock valued at $149,000 after purchasing an additional 117 shares in the last quarter. Finally, Parallel Advisors LLC acquired a new position in WEX in the third quarter valued at approximately $166,000. 97.16% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE WEX opened at $172.03 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.50 and a quick ratio of 1.50. WEX Inc has a twelve month low of $131.35 and a twelve month high of $203.49. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 36.60, a PEG ratio of 1.36 and a beta of 1.55.
In other WEX news, insider David G. Cooper sold 607 shares of the business’s stock in a transaction that occurred on Monday, December 17th. The stock was sold at an average price of $145.15, for a total value of $88,106.05. Following the completion of the sale, the insider now owns 1,065 shares in the company, valued at $154,584.75. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.57% of the stock is currently owned by insiders.
WEX has been the subject of a number of research analyst reports. Goldman Sachs Group downgraded WEX from a “buy” rating to a “neutral” rating and lowered their price target for the company from $205.00 to $167.00 in a report on Tuesday, December 11th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $180.00 price target (down from $200.00) on shares of WEX in a report on Wednesday, January 16th. BTIG Research initiated coverage on WEX in a report on Thursday, January 17th. They issued a “buy” rating and a $198.00 price target for the company. Deutsche Bank reaffirmed a “buy” rating and issued a $186.00 price target on shares of WEX in a report on Wednesday, November 21st. Finally, Wolfe Research raised WEX from a “market perform” rating to an “outperform” rating in a report on Friday, January 4th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $193.67.
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WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.
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