Bull Harbor Capital LLC Acquires Shares of 2,977 WEX Inc. $WEX

Bull Harbor Capital LLC bought a new position in WEX Inc. (NYSE:WEX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,977 shares of the business services provider’s stock, valued at approximately $456,000.

Several other hedge funds have also recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in shares of WEX during the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd grew its stake in shares of WEX by 368.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 220 shares of the business services provider’s stock worth $35,000 after acquiring an additional 173 shares during the period. First Horizon Corp increased its holdings in WEX by 65.7% in the 4th quarter. First Horizon Corp now owns 237 shares of the business services provider’s stock worth $35,000 after acquiring an additional 94 shares during the last quarter. 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 worth $54,000 after acquiring an additional 255 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in 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 acquiring an additional 257 shares during the period. 97.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WEX has been the topic of several recent research reports. Wall Street Zen downgraded shares of WEX from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Mizuho lifted their target price on shares of WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Loop Capital started coverage on shares of WEX in a research report on Monday, April 27th. They issued a “buy” rating and a $195.00 price target on the stock. Evercore upgraded shares of WEX to an “outperform” rating in a research note on Tuesday, July 21st. Finally, Cantor Fitzgerald set a $178.00 price objective on shares of WEX in a report on Monday. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, WEX has a consensus rating of “Hold” and a consensus price target of $183.30.

Insider Activity

In other news, COO Robert Joseph Deshaies sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $184.95, for a total value of $184,950.00. Following the completion of the transaction, the chief operating officer directly owned 19,288 shares in the company, valued at approximately $3,567,315.60. This trade represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Groch acquired 1,500 shares of WEX stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average cost of $142.95 per share, with a total value of $214,425.00. Following the purchase, the director owned 17,957 shares of the company’s stock, valued at $2,566,953.15. This represents a 9.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders sold 8,783 shares of company stock valued at $1,462,885. Corporate insiders own 1.40% of the company’s stock.

WEX Stock Performance

NYSE:WEX opened at $187.04 on Friday. The business’s fifty day moving average is $150.32 and its 200 day moving average is $153.76. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.03 and a beta of 0.85. The company has a debt-to-equity ratio of 2.62, a quick ratio of 1.04 and a current ratio of 1.04. WEX Inc. has a 52-week low of $125.29 and a 52-week high of $191.38.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, topping the consensus estimate of $5.08 by $0.27. The business had revenue of $753.50 million during the quarter, compared to the consensus estimate of $740.72 million. WEX had a return on equity of 43.19% and a net margin of 12.56%.The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.95 EPS. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. Research analysts predict that WEX Inc. will post 17.12 EPS for the current year.

WEX declared that its board has approved a share repurchase plan on Thursday, May 14th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to repurchase up to 21.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About WEX

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.