Norges Bank acquired a new stake in shares of WEX Inc. (NYSE:WEX – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 336,973 shares of the business services provider’s stock, valued at approximately $50,202,000.
Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in shares of WEX by 158.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider’s stock worth $55,097,000 after buying an additional 215,036 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of WEX during the 1st quarter valued at about $394,000. American Century Companies Inc. lifted its holdings in shares of WEX by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider’s stock valued at $471,000 after acquiring an additional 60 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of WEX by 4,837.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 395 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 387 shares during the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in WEX in the second quarter worth about $271,000. 97.47% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on WEX shares. Wall Street Zen downgraded WEX from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Robert W. Baird lifted their price objective on shares of WEX from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Loop Capital began coverage on shares of WEX in a research report on Monday, April 27th. They set a “buy” rating and a $195.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of WEX in a research note on Monday, April 20th. Finally, Cantor Fitzgerald raised their target price on shares of WEX from $158.00 to $166.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Four investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $172.70.
Insider Activity
In other news, CAO Jennifer Kimball sold 715 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $157.82, for a total value of $112,841.30. Following the completion of the sale, the chief accounting officer owned 6,203 shares of the company’s stock, valued at $978,957.46. This trade represents a 10.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert Joseph Deshaies sold 1,200 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $144.84, for a total value of $173,808.00. Following the transaction, the chief operating officer directly owned 22,288 shares in the company, valued at $3,228,193.92. This represents a 5.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,019 shares of company stock valued at $1,446,996 in the last ninety days. 1.40% of the stock is currently owned by insiders.
WEX Trading Down 0.2%
Shares of NYSE WEX opened at $147.96 on Monday. WEX Inc. has a twelve month low of $132.35 and a twelve month high of $186.85. The firm has a market cap of $5.13 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 0.92 and a beta of 0.85. The business has a fifty day simple moving average of $152.54 and a two-hundred day simple moving average of $153.55. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.83.
WEX (NYSE:WEX – Get Free Report) last posted its earnings results on Wednesday, April 22nd. The business services provider reported $4.15 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.23. The business had revenue of $673.80 million for the quarter, compared to the consensus estimate of $660.96 million. WEX had a net margin of 11.50% and a return on equity of 42.66%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.51 EPS. WEX has set its FY 2026 guidance at 18.950-19.550 EPS and its Q2 2026 guidance at 4.930-5.130 EPS. Analysts expect that WEX Inc. will post 16.49 earnings per share for the current fiscal year.
WEX declared that its board has authorized a share buyback plan on Thursday, May 14th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to buy up to 21.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board 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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