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Headlines
- Crossmark Global Holdings Inc. reduced its holdings in WEX Inc. by 24.1% in Q4.
- WEX reports positive financial performance with higher-than-expected earnings.
Institutional Movements
Crossmark Global Holdings Inc. significantly cut its stake in WEX Inc. (NYSE:WEX), shedding 24.1% of its position in the fourth quarter as per their recent SEC filing. The firm now holds 2,444 shares valued at approximately $429,000. Other notable movements in shareholding include Venturi Wealth Management LLC, which increased its holdings by 206.1% during the third quarter, and Quarry LP, which raised its position by 717.4% in the second quarter. Collectively, institutional investors and hedge funds account for 97.47% of the ownership, highlighting their active involvement in WEX's market performance.
Analyst Ratings and Market Performance
Jefferies Financial Group adjusted their price target from $180.00 to $190.00. Bank of America increased its target to $255.00, while Robert W. Baird reduced it to $230.00. Currently, the stock is priced at $181.33, experiencing a minor dip of 0.9% from the previous level. WEX's performance indicators reveal a twelve-month range between $165.51 and $244.04, reflecting its market volatility and potential for growth.
Financial Overview
WEX Inc. continues to demonstrate robust financial health, having reported earnings of $4.35 per share in the last quarter, exceeding consensus estimates by $0.53. The company's revenue hit $665.50 million, which, despite falling short of projections, still marked a 2.2% increase from the previous year. The firm's net margin stands at 12.45% with a return on equity at an impressive 31.35%. Such financial resilience underscores its stable footing and continued capacity for generating shareholder value.
Insider Transactions and Company Profile
In terms of insider activities, COO Robert Joseph Deshaies sold 175 shares in November, adjusting his ownership to 7,582 shares. Insiders account for 1.10% of WEX stock, suggesting a strategic alignment with the company’s long-term goals. WEX operates a comprehensive commerce platform, offering diverse services in fleet vehicle payments, transaction processing, and information management across the US and international markets.
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