EP Wealth Advisors LLC bought a new stake in shares of WEX Inc. (NYSE:WEX – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,810 shares of the business services provider’s stock, valued at approximately $396,000.
A number of other hedge funds also recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new stake in WEX during the fourth quarter worth about $25,000. Global Retirement Partners LLC acquired a new stake in WEX during the second quarter worth about $26,000. Caitong International Asset Management Co. Ltd increased its holdings in WEX by 368.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 220 shares of the business services provider’s stock valued at $35,000 after buying an additional 173 shares during the period. Root Financial Partners LLC increased its holdings in WEX by 255.0% in the 1st quarter. Root Financial Partners LLC now owns 355 shares of the business services provider’s stock valued at $54,000 after buying an additional 255 shares during the period. Finally, IFP Advisors Inc raised its position in shares of WEX by 225.4% in the 4th quarter. IFP Advisors Inc now owns 371 shares of the business services provider’s stock valued at $55,000 after buying an additional 257 shares in the last quarter. Institutional investors own 97.47% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on WEX. Cantor Fitzgerald set a $178.00 price target on shares of WEX in a report on Monday, July 27th. Weiss Ratings raised shares of WEX from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Wall Street Zen downgraded shares of WEX from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Mizuho upped their target price on WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Evercore raised WEX to an “outperform” rating in a report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, WEX has a consensus rating of “Hold” and an average price target of $183.30.
Insider Transactions at WEX
In other WEX news, COO Carlos Carriedo sold 1,075 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $186.00, for a total value of $199,950.00. Following the completion of the transaction, the chief operating officer directly owned 11,076 shares in the company, valued at approximately $2,060,136. This represents a 8.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ann Elena Drew sold 3,400 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $176.02, for a total transaction of $598,468.00. Following the completion of the transaction, the insider owned 7,988 shares of the company’s stock, valued at approximately $1,406,047.76. This trade represents a 29.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,858 shares of company stock worth $1,662,835 in the last 90 days. 1.40% of the stock is currently owned by company insiders.
WEX Stock Performance
Shares of WEX stock opened at $199.74 on Wednesday. WEX Inc. has a fifty-two week low of $125.29 and a fifty-two week high of $203.99. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $6.81 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.06 and a beta of 0.82. The company’s 50 day moving average price is $167.06 and its two-hundred day moving average price is $158.07.
WEX (NYSE:WEX – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.08 by $0.27. WEX had a net margin of 12.56% and a return on equity of 43.19%. The company had revenue of $753.50 million during the quarter, compared to the consensus estimate of $740.72 million. During the same period in the prior year, the business earned $3.95 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. On average, equities analysts forecast that WEX Inc. will post 17.11 earnings per share for the current fiscal year.
WEX announced that its board has authorized a share buyback plan on Thursday, May 14th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 21.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
WEX Profile
WEX Inc is a global financial technology company specializing in business payment solutions for fleet, travel, and corporate payments. The company delivers software-driven platforms and card-based services that help businesses automate payment processes, manage expenses and improve operational efficiency across a range of industries, including transportation, healthcare and government.
Founded in 1983 as Wright Express in Portland, Maine, the company began by offering fuel card services to trucking fleets.
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