Entropy Technologies LP Makes New $1.32 Million Investment in WEX Inc. (NYSE:WEX)

Entropy Technologies LP purchased a new position in shares of WEX Inc. (NYSE:WEX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,543 shares of the business services provider’s stock, valued at approximately $1,317,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of WEX by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,199,017 shares of the business services provider’s stock worth $816,919,000 after acquiring an additional 67,893 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of WEX by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 3,122,500 shares of the business services provider’s stock worth $607,482,000 after acquiring an additional 179,813 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of WEX by 2.7% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 866,363 shares of the business services provider’s stock worth $177,076,000 after acquiring an additional 22,865 shares during the last quarter. Norges Bank acquired a new stake in shares of WEX in the fourth quarter worth approximately $89,745,000. Finally, Federated Hermes Inc. boosted its position in shares of WEX by 8.4% in the fourth quarter. Federated Hermes Inc. now owns 372,006 shares of the business services provider’s stock worth $72,374,000 after acquiring an additional 28,782 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Stock Up 1.3 %

Shares of WEX traded up $2.43 during mid-day trading on Thursday, reaching $192.01. 10,944 shares of the stock traded hands, compared to its average volume of 324,553. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 30.83, a P/E/G ratio of 1.10 and a beta of 1.54. The stock has a fifty day simple moving average of $183.71 and a 200 day simple moving average of $206.53. WEX Inc. has a 12-month low of $161.95 and a 12-month high of $244.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.73.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, April 25th. The business services provider reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.15. The company had revenue of $652.70 million for the quarter, compared to analyst estimates of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. Sell-side analysts expect that WEX Inc. will post 13.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jagtar Narula sold 540 shares of WEX stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.00, for a total value of $97,200.00. Following the completion of the sale, the chief financial officer now owns 8,168 shares in the company, valued at $1,470,240. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other WEX news, SVP Sara Trickett sold 734 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total transaction of $154,455.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.00, for a total transaction of $97,200.00. Following the sale, the chief financial officer now owns 8,168 shares of the company’s stock, valued at approximately $1,470,240. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,371 shares of company stock worth $905,802. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of WEX from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Wells Fargo & Company assumed coverage on shares of WEX in a research report on Wednesday, June 5th. They set an “equal weight” rating and a $200.00 price target on the stock. Robert W. Baird lifted their price target on shares of WEX from $272.00 to $285.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Barclays lifted their price target on shares of WEX from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. reduced their price target on shares of WEX from $246.00 to $210.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $238.85.

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.