Cwm LLC Sells 2,087 Shares of WEX Inc. (NYSE:WEX)

CWM LLC cut its position in WEX Inc. (NYSE:WEX - Free Report) by 39.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,163 shares of the business services provider's stock after selling 2,087 shares during the quarter. CWM LLC's holdings in WEX were worth $497,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Cerity Partners LLC raised its position in shares of WEX by 88.5% during the first quarter. Cerity Partners LLC now owns 10,002 shares of the business services provider's stock worth $1,571,000 after acquiring an additional 4,695 shares during the last quarter. Cornerstone Investment Partners LLC increased its holdings in WEX by 2.9% in the first quarter. Cornerstone Investment Partners LLC now owns 4,705 shares of the business services provider's stock worth $739,000 after purchasing an additional 133 shares in the last quarter. Beverly Hills Private Wealth LLC increased its holdings in WEX by 726.3% in the first quarter. Beverly Hills Private Wealth LLC now owns 14,395 shares of the business services provider's stock worth $2,260,000 after purchasing an additional 12,653 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in WEX by 1.0% in the first quarter. Envestnet Asset Management Inc. now owns 59,053 shares of the business services provider's stock worth $9,272,000 after purchasing an additional 578 shares in the last quarter. Finally, Eukles Asset Management increased its holdings in WEX by 18.2% in the first quarter. Eukles Asset Management now owns 3,226 shares of the business services provider's stock worth $507,000 after purchasing an additional 497 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WEX shares. Wells Fargo & Company lowered their target price on WEX from $160.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. UBS Group lifted their target price on WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a report on Friday. Oppenheimer started coverage on WEX in a report on Thursday, May 15th. They issued a "market perform" rating for the company. Morgan Stanley lifted their target price on WEX from $142.00 to $170.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on WEX in a research note on Thursday, July 17th. They issued a "hold" rating and a $150.00 price objective for the company. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $179.00.

Insider Activity at WEX

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

WEX Stock Up 0.8%

Shares of NYSE:WEX traded up $1.43 during mid-day trading on Friday, hitting $175.53. 745,194 shares of the company traded hands, compared to its average volume of 463,946. The stock has a market cap of $6.01 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.70 and a beta of 1.23. The company has a current ratio of 1.04, a quick ratio of 1.05 and a debt-to-equity ratio of 3.99. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $217.47. The stock has a 50-day moving average price of $145.30 and a two-hundred day moving average price of $148.91.

WEX (NYSE:WEX - Get Free Report) last announced its 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. The company had revenue of $636.60 million for the quarter, compared to analysts' expectations of $631.42 million. WEX had a return on equity of 41.87% and a net margin of 11.79%. WEX's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.46 earnings per share. On average, equities research analysts forecast that WEX Inc. will post 14.09 earnings per share for the current year.

About WEX

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.