Entropy Technologies LP Buys 19,994 Shares of WEX Inc. (NYSE:WEX)

Key Points

• Entropy Technologies LP boosted its position in WEX Inc. by 571.3% in the first quarter, acquiring an additional 19,994 shares, bringing its total holdings to 23,494 shares valued at approximately $3.69 million.
• Several other hedge funds have also increased their stakes in WEX, with institutional investors now owning 97.47% of the company's stock.
• WEX's stock has a 52-week range from $110.45 to $217.47, and analysts have set an average price target of $181.50 with a mix of ratings from "hold" to "outperform."

Entropy Technologies LP increased its position in WEX Inc. (NYSE:WEX - Free Report) by 571.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,494 shares of the business services provider's stock after acquiring an additional 19,994 shares during the period. Entropy Technologies LP owned approximately 0.07% of WEX worth $3,689,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Earnest Partners LLC raised its position in shares of WEX by 1.0% in the 4th quarter. Earnest Partners LLC now owns 872,734 shares of the business services provider's stock worth $153,008,000 after buying an additional 8,780 shares during the period. Dimensional Fund Advisors LP increased its position in shares of WEX by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 602,693 shares of the business services provider's stock worth $105,653,000 after acquiring an additional 18,331 shares during the last quarter. Northern Trust Corp increased its position in shares of WEX by 16.8% during the fourth quarter. Northern Trust Corp now owns 358,371 shares of the business services provider's stock worth $62,830,000 after acquiring an additional 51,617 shares during the last quarter. Ariel Investments LLC increased its position in shares of WEX by 113.0% during the fourth quarter. Ariel Investments LLC now owns 318,272 shares of the business services provider's stock worth $55,799,000 after acquiring an additional 168,832 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in shares of WEX by 1,684.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 201,922 shares of the business services provider's stock worth $35,401,000 after acquiring an additional 190,605 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on WEX. Deutsche Bank Aktiengesellschaft initiated coverage on WEX in a research note on Thursday, July 17th. They issued a "hold" rating and a $150.00 price target for the company. Mizuho boosted their target price on WEX from $150.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Robert W. Baird upped their price target on WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. UBS Group lifted their price objective on shares of WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Barclays boosted their price target on shares of WEX from $135.00 to $170.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, WEX currently has an average rating of "Hold" and a consensus target price of $181.50.

WEX Price Performance

Shares of WEX traded up $2.44 during mid-day trading on Tuesday, hitting $169.55. 2,398 shares of the company traded hands, compared to its average volume of 710,114. WEX Inc. has a one year low of $110.45 and a one year high of $217.47. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99. The business has a 50-day moving average of $153.09 and a 200 day moving average of $147.94. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 1.58 and a beta of 1.28.

Insider Buying and Selling at WEX

In other WEX news, CAO Jennifer Kimball sold 1,400 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $131.08, for a total value of $183,512.00. Following the sale, the chief accounting officer directly owned 3,177 shares in the company, valued at approximately $416,441.16. This trade represents a 30.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Carlos Carriedo sold 875 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $171.68, for a total transaction of $150,220.00. Following the sale, the chief operating officer directly owned 5,270 shares of the company's stock, valued at $904,753.60. This represents a 14.24% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,206 shares of company stock valued at $665,265. 1.40% of the stock is currently owned by corporate insiders.

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.