Duality Advisers LP Invests $1.95 Million in WEX Inc. (NYSE:WEX)

Duality Advisers LP purchased a new position in shares of WEX Inc. (NYSE:WEX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,017 shares of the business services provider’s stock, valued at approximately $1,949,000.

A number of other large investors also recently modified their holdings of the business. SG Americas Securities LLC increased its position in shares of WEX by 16.6% during the third quarter. SG Americas Securities LLC now owns 1,711 shares of the business services provider’s stock valued at $322,000 after purchasing an additional 244 shares during the period. RDA Financial Network increased its position in shares of WEX by 40.4% during the third quarter. RDA Financial Network now owns 1,650 shares of the business services provider’s stock valued at $310,000 after purchasing an additional 475 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of WEX by 15.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 4,068 shares of the business services provider’s stock valued at $765,000 after purchasing an additional 547 shares during the period. Oak Thistle LLC bought a new stake in shares of WEX during the third quarter valued at approximately $1,490,000. Finally, Wendell David Associates Inc. increased its position in shares of WEX by 7.9% during the third quarter. Wendell David Associates Inc. now owns 1,189 shares of the business services provider’s stock valued at $224,000 after purchasing an additional 87 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WEX has been the topic of a number of analyst reports. Truist Financial upped their price target on WEX from $185.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Jefferies Financial Group boosted their price objective on WEX from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Robert W. Baird boosted their price objective on WEX from $272.00 to $285.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Evercore ISI upped their price target on WEX from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, Mizuho upped their price target on WEX from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, WEX has a consensus rating of “Moderate Buy” and an average target price of $240.00.

Insider Activity

In other news, CAO Jennifer Kimball sold 574 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $222.24, for a total value of $127,565.76. Following the transaction, the chief accounting officer now directly owns 1,297 shares of the company’s stock, valued at approximately $288,245.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other WEX news, SVP Sara Trickett sold 887 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jennifer Kimball sold 574 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $222.24, for a total value of $127,565.76. Following the completion of the transaction, the chief accounting officer now owns 1,297 shares in the company, valued at approximately $288,245.28. The disclosure for this sale can be found here. Insiders have sold 28,326 shares of company stock valued at $6,281,961 in the last ninety days. 1.10% of the stock is owned by company insiders.

WEX Stock Down 0.0 %

Shares of NYSE:WEX opened at $230.47 on Tuesday. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 37.41, a P/E/G ratio of 1.49 and a beta of 1.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. The business’s 50-day moving average is $230.06 and its 200-day moving average is $202.94. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The business had revenue of $663.30 million during the quarter, compared to analyst estimates of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. Equities research analysts predict that WEX Inc. will post 13.55 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.