Radnor Capital Management LLC Has $1.30 Million Stock Position in WEX Inc. $WEX

Key Points

• Radnor Capital Management LLC increased its holdings in WEX Inc. by 58.6% in the second quarter, owning 8,840 shares valued at approximately $1.3 million.
• The stock's recent trading price is $172.15, with a 52-week range between $110.45 and $217.47, and a market cap of $5.90 billion.
• Wall Street analysts have set a consensus price target of $179.82 for WEX, with multiple firms upgrading their ratings and price targets in recent reports.

Radnor Capital Management LLC raised its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 58.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,840 shares of the business services provider's stock after acquiring an additional 3,265 shares during the period. Radnor Capital Management LLC's holdings in WEX were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in WEX. Envestnet Asset Management Inc. increased its stake in WEX by 1.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 59,053 shares of the business services provider's stock worth $9,272,000 after buying an additional 578 shares during the period. GAMMA Investing LLC boosted its holdings in WEX by 27,871.3% during the first quarter. GAMMA Investing LLC now owns 69,089 shares of the business services provider's stock worth $10,848,000 after buying an additional 68,842 shares in the last quarter. Jane Street Group LLC lifted its position in shares of WEX by 399.9% during the 1st quarter. Jane Street Group LLC now owns 210,707 shares of the business services provider's stock valued at $33,085,000 after buying an additional 168,558 shares in the last quarter. Cerity Partners LLC lifted its position in shares of WEX by 88.5% in the first quarter. Cerity Partners LLC now owns 10,002 shares of the business services provider's stock valued at $1,571,000 after acquiring an additional 4,695 shares in the last quarter. Finally, Optimize Financial Inc purchased a new position in WEX during the first quarter worth approximately $389,000. Hedge funds and other institutional investors own 97.47% of the company's stock.

Insider Activity at WEX

In other WEX news, insider Ann Elena Drew sold 1,931 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total value of $331,533.39. Following the completion of the transaction, the insider directly owned 7,295 shares in the company, valued at $1,252,478.55. This trade represents a 20.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Carlos Carriedo sold 875 shares of WEX stock in a transaction on Thursday, July 31st. The shares were 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 trade represents a 14.24% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.

WEX Stock Performance

Shares of NYSE:WEX traded down $4.73 during trading on Friday, reaching $163.60. 909,664 shares of the company's stock traded hands, compared to its average volume of 311,639. The stock has a market capitalization of $5.60 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31. The company has a 50 day moving average of $168.59 and a 200-day moving average of $149.76. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.04 and a quick ratio of 1.04. WEX Inc. has a 12 month low of $110.45 and a 12 month high of $217.47.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WEX. Robert W. Baird boosted their price target on shares of WEX from $186.00 to $198.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. William Blair reiterated a "market perform" rating on shares of WEX in a research note on Friday, July 25th. Jefferies Financial Group raised their price target on WEX from $130.00 to $135.00 and gave the company a "hold" rating in a research note on Tuesday, May 27th. UBS Group increased their target price on shares of WEX from $138.00 to $185.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Barclays boosted their target price on shares of WEX from $135.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $179.82.

WEX Profile

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.