Syon Capital LLC Sells 2,702 Shares of WEX Inc. $WEX

Syon Capital LLC decreased its holdings in shares of WEX Inc. (NYSE:WEX) by 52.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,497 shares of the business services provider’s stock after selling 2,702 shares during the quarter. Syon Capital LLC’s holdings in WEX were worth $352,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in WEX during the fourth quarter worth about $25,000. Global Retirement Partners LLC bought a new position in WEX in the second quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd increased its position 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 purchasing an additional 173 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of WEX during the 2nd quarter worth approximately $41,000. Finally, Root Financial Partners LLC raised its stake in shares of WEX by 255.0% during the 1st quarter. Root Financial Partners LLC now owns 355 shares of the business services provider’s stock worth $54,000 after purchasing an additional 255 shares in the last quarter. 97.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Mizuho raised their target price on shares of WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Wall Street Zen lowered shares of WEX from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Weiss Ratings raised shares of WEX from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Evercore upgraded shares of WEX to an “outperform” rating in a research note on Tuesday, July 21st. Finally, Cantor Fitzgerald set a $178.00 target price on shares of WEX in a report on Monday, July 27th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, WEX has a consensus rating of “Hold” and a consensus target price of $183.30.

Insiders Place Their Bets

In other news, CEO Melissa Smith sold 28,109 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $190.09, for a total transaction of $5,343,239.81. Following the completion of the sale, the chief executive officer owned 126,625 shares in the company, valued at $24,070,146.25. The trade was a 18.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Carlos Carriedo sold 1,075 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $186.00, for a total value of $199,950.00. Following the transaction, the chief operating officer owned 11,076 shares in the company, valued at approximately $2,060,136. This trade represents a 8.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 36,767 shares of company stock worth $6,832,266 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

WEX Trading Down 0.7%

Shares of WEX stock opened at $185.97 on Thursday. 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 business has a fifty day simple moving average of $180.12 and a two-hundred day simple moving average of $160.77. WEX Inc. has a 1 year low of $125.29 and a 1 year high of $203.99. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 18.52, a P/E/G ratio of 0.98 and a beta of 0.83.

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, beating the consensus estimate of $5.08 by $0.27. The firm had revenue of $753.50 million for the quarter, compared to the consensus estimate of $740.72 million. WEX had a net margin of 12.56% and a return on equity of 43.19%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.95 earnings per share. 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 forecast that WEX Inc. will post 17.11 EPS for the current year.

WEX announced that its board has authorized a share buyback program on Thursday, May 14th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to reacquire up to 21.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are 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.