Cresset Asset Management LLC Sells 6,208 Shares of WEX Inc. (NYSE:WEX)

Cresset Asset Management LLC cut its position in shares of WEX Inc. (NYSE:WEX) by 84.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,167 shares of the business services provider’s stock after selling 6,208 shares during the quarter. Cresset Asset Management LLC’s holdings in WEX were worth $205,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of WEX. Barclays PLC grew its position in WEX by 38.4% during the 3rd quarter. Barclays PLC now owns 21,535 shares of the business services provider’s stock worth $4,516,000 after acquiring an additional 5,972 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in WEX during the 4th quarter worth approximately $1,168,000. Hennion & Walsh Asset Management Inc. grew its position in WEX by 16.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,292 shares of the business services provider’s stock worth $577,000 after acquiring an additional 455 shares during the last quarter. Empirical Asset Management LLC bought a new position in WEX during the 4th quarter worth approximately $399,000. Finally, Merit Financial Group LLC bought a new position in WEX during the 4th quarter worth approximately $200,000. 97.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on WEX shares. Robert W. Baird set a $186.00 price target on WEX in a research report on Tuesday, February 18th. UBS Group reduced their price target on WEX from $172.00 to $138.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Barclays reduced their price target on WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Oppenheimer assumed coverage on WEX in a report on Thursday. They issued a “market perform” rating for the company. Finally, Wells Fargo & Company dropped their price objective on WEX from $160.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, WEX currently has an average rating of “Hold” and an average target price of $182.40.

WEX Trading Up 1.6%

NYSE WEX opened at $139.50 on Monday. The stock has a market cap of $4.78 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The stock has a 50 day simple moving average of $136.60 and a two-hundred day simple moving average of $160.45. WEX Inc. has a fifty-two week low of $110.45 and a fifty-two week high of $217.47.

WEX (NYSE:WEX) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.11. The company had revenue of $636.60 million during the quarter, compared to analysts’ expectations of $631.42 million. WEX had a return on equity of 32.35% and a net margin of 11.78%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.46 EPS. On average, analysts forecast that WEX Inc. will post 14.09 earnings per share for the current year.

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.