Entropy Technologies LP Makes New $614,000 Investment in WEX Inc. (NYSE:WEX)

Entropy Technologies LP acquired a new stake in WEX Inc. (NYSE:WEX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,500 shares of the business services provider’s stock, valued at approximately $614,000.

A number of other hedge funds have also modified their holdings of WEX. Truist Financial Corp grew its position in WEX by 21.0% in the second quarter. Truist Financial Corp now owns 2,943 shares of the business services provider’s stock valued at $521,000 after acquiring an additional 510 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of WEX in the 2nd quarter worth about $397,000. GAMMA Investing LLC increased its position in shares of WEX by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock worth $63,000 after purchasing an additional 87 shares in the last quarter. Procyon Advisors LLC increased its position in shares of WEX by 3.9% during the 3rd quarter. Procyon Advisors LLC now owns 3,691 shares of the business services provider’s stock worth $774,000 after purchasing an additional 138 shares in the last quarter. Finally, Creative Planning lifted its holdings in WEX by 1.8% during the 3rd quarter. Creative Planning now owns 78,721 shares of the business services provider’s stock valued at $16,510,000 after purchasing an additional 1,398 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on WEX. Wells Fargo & Company dropped their price objective on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Mizuho dropped their price target on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a report on Monday. Barclays cut their price objective on WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research report on Monday. Bank of America cut WEX from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Finally, William Blair reaffirmed a “market perform” rating on shares of WEX in a report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $199.73.

Insider Activity at WEX

In related news, COO Robert Joseph Deshaies sold 175 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $189.44, for a total transaction of $33,152.00. Following the completion of the transaction, the chief operating officer now owns 7,582 shares in the company, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

WEX Stock Up 0.6 %

Shares of NYSE WEX opened at $155.25 on Wednesday. WEX Inc. has a 1 year low of $146.03 and a 1 year high of $244.04. The firm’s 50-day moving average is $176.28 and its 200-day moving average is $185.51. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The firm has a market capitalization of $6.18 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.24 and a beta of 1.58.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Equities analysts expect that WEX Inc. will post 14.27 EPS 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.