Cresset Asset Management LLC Decreases Stock Position in WEX Inc. (NYSE:WEX)

Cresset Asset Management LLC reduced its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 84.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,167 shares of the business services provider's stock after selling 6,208 shares during the period. Cresset Asset Management LLC's holdings in WEX were worth $205,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. LPL Financial LLC boosted its stake in shares of WEX by 13.2% in the 4th quarter. LPL Financial LLC now owns 29,408 shares of the business services provider's stock worth $5,283,000 after buying an additional 3,439 shares during the last quarter. Fifth Third Bancorp increased its stake in WEX by 1,635.8% in the fourth quarter. Fifth Third Bancorp now owns 8,783 shares of the business services provider's stock valued at $1,540,000 after acquiring an additional 8,277 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in WEX by 7.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,008 shares of the business services provider's stock valued at $1,053,000 after acquiring an additional 393 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in WEX by 25.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock valued at $56,000 after acquiring an additional 66 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of WEX by 108.4% during the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock valued at $43,000 after buying an additional 129 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

WEX Stock Performance

NYSE:WEX traded down $4.07 during trading hours on Friday, reaching $133.21. The company had a trading volume of 399,752 shares, compared to its average volume of 564,898. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. WEX Inc. has a 52 week low of $110.45 and a 52 week high of $217.47. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 2.06 and a beta of 1.26. The firm's 50 day moving average price is $134.78 and its 200-day moving average price is $159.14.

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

Wall Street Analysts Forecast Growth

WEX has been the subject of a number of analyst reports. UBS Group dropped their target price on shares of WEX from $172.00 to $138.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Keefe, Bruyette & Woods dropped their price target on WEX from $220.00 to $200.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Bank of America cut WEX from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. Wells Fargo & Company cut their target price on WEX from $160.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Mizuho cut their target price on WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, WEX currently has a consensus rating of "Hold" and an average price target of $182.40.

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.