WEX Inc. $WEX Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of WEX Inc. (NYSE:WEX) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 638,957 shares of the business services provider’s stock after buying an additional 6,971 shares during the period. Geode Capital Management LLC’s holdings in WEX were worth $95,209,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Earnest Partners LLC increased its position in shares of WEX by 1.1% during the third quarter. Earnest Partners LLC now owns 907,803 shares of the business services provider’s stock worth $143,006,000 after purchasing an additional 10,027 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of WEX by 1,289.3% during the third quarter. Crossmark Global Holdings Inc. now owns 19,797 shares of the business services provider’s stock worth $3,119,000 after purchasing an additional 18,372 shares in the last quarter. Citigroup Inc. increased its position in shares of WEX by 103.8% during the third quarter. Citigroup Inc. now owns 24,088 shares of the business services provider’s stock worth $3,795,000 after purchasing an additional 12,266 shares in the last quarter. Intech Investment Management LLC increased its position in shares of WEX by 289.4% during the third quarter. Intech Investment Management LLC now owns 14,066 shares of the business services provider’s stock worth $2,216,000 after purchasing an additional 10,454 shares in the last quarter. Finally, Snyder Capital Management L P increased its position in shares of WEX by 13.6% during the third quarter. Snyder Capital Management L P now owns 175,427 shares of the business services provider’s stock worth $27,635,000 after purchasing an additional 21,028 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WEX. Raymond James Financial reaffirmed a “market perform” rating on shares of WEX in a research report on Friday, March 6th. Morgan Stanley upped their price target on WEX from $146.00 to $158.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st. Loop Capital assumed coverage on WEX in a research report on Monday, April 27th. They set a “buy” rating and a $195.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of WEX in a report on Monday, April 20th. Finally, Wall Street Zen lowered shares of WEX from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Four analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $172.70.

Insider Buying and Selling at WEX

In related news, COO Robert Joseph Deshaies sold 1,200 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $144.84, for a total transaction of $173,808.00. Following the completion of the transaction, the chief operating officer directly owned 22,288 shares in the company, valued at $3,228,193.92. The trade was a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jennifer Kimball sold 715 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $157.82, for a total transaction of $112,841.30. Following the transaction, the chief accounting officer owned 6,203 shares of the company’s stock, valued at $978,957.46. This represents a 10.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 9,019 shares of company stock valued at $1,446,996. Company insiders own 1.40% of the company’s stock.

WEX Price Performance

Shares of WEX opened at $147.96 on Friday. The firm has a market capitalization 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 company has a debt-to-equity ratio of 2.83, a current ratio of 1.05 and a quick ratio of 1.05. WEX Inc. has a 1-year low of $132.35 and a 1-year high of $186.85. The company’s fifty day moving average price is $152.54 and its 200-day moving average price is $153.43.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $4.15 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.23. The firm had revenue of $673.80 million for the quarter, compared to analyst estimates of $660.96 million. WEX had a net margin of 11.50% and a return on equity of 42.66%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.51 earnings per share. WEX has set its FY 2026 guidance at 18.950-19.550 EPS and its Q2 2026 guidance at 4.930-5.130 EPS. On average, equities research analysts predict that WEX Inc. will post 16.49 EPS for the current year.

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