Entropy Technologies LP Invests $614,000 in WEX Inc. (NYSE:WEX)

Entropy Technologies LP bought a new position in WEX Inc. (NYSE:WEX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,500 shares of the business services provider's stock, valued at approximately $614,000.

A number of other hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC grew its position in WEX by 206.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock worth $31,000 after acquiring an additional 101 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in WEX in the third quarter worth $35,000. UMB Bank n.a. grew its holdings in shares of WEX by 552.5% during the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock worth $46,000 after purchasing an additional 221 shares during the last quarter. Covestor Ltd increased its stake in shares of WEX by 47.3% in the third quarter. Covestor Ltd now owns 277 shares of the business services provider's stock valued at $58,000 after buying an additional 89 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of WEX in the third quarter valued at about $59,000. Institutional investors and hedge funds own 97.47% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Mizuho decreased their price objective on shares of WEX from $215.00 to $170.00 and set an "outperform" rating on the stock in a report on Monday. Wolfe Research cut shares of WEX from an "outperform" rating to a "peer perform" rating in a research note on Monday, October 28th. UBS Group dropped their price objective on shares of WEX from $200.00 to $172.00 and set a "neutral" rating for the company in a research report on Friday, February 7th. William Blair reiterated a "market perform" rating on shares of WEX in a research report on Thursday, February 6th. Finally, Jefferies Financial Group boosted their target price on WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $199.73.

Insider Transactions at WEX

In related news, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction dated Friday, November 29th. The stock was 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 directly owns 7,582 shares in the company, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

WEX Trading Down 2.4 %

WEX stock traded down $3.78 during midday trading on Wednesday, hitting $151.05. 536,297 shares of the company's stock were exchanged, compared to its average volume of 517,039. WEX Inc. has a one year low of $146.03 and a one year high of $244.04. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The company has a market cap of $6.01 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.24 and a beta of 1.58. The stock's fifty day moving average price is $176.28 and its 200-day moving average price is $185.51.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. Research analysts predict that WEX Inc. will post 14.27 earnings per share for the current fiscal 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.