WEX (NYSE:WEX) Sets New 1-Year High – Here’s Why

WEX Inc. (NYSE:WEX) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $203.99 and last traded at $199.7370, with a volume of 419539 shares changing hands. The stock had previously closed at $203.25.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WEX. Weiss Ratings upgraded shares of WEX from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. Mizuho lifted their price target on shares of WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft cut their target price on WEX from $180.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, June 12th. Keefe, Bruyette & Woods boosted their price target on shares of WEX from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Wall Street Zen downgraded shares of WEX from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Six analysts have rated the stock with a Buy rating and eight have assigned 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 $183.30.

WEX Stock Performance

The stock has a fifty day moving average price of $169.90 and a 200 day moving average price of $158.70. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.62. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 1.04 and a beta of 0.82.

WEX (NYSE:WEX) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share for the quarter, topping the consensus estimate of $5.08 by $0.27. WEX had a return on equity of 43.19% and a net margin of 12.56%.The firm had revenue of $753.50 million during the quarter, compared to analyst estimates of $740.72 million. During the same period in the previous year, the company earned $3.95 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. As a group, analysts predict that WEX Inc. will post 17.11 earnings per share for the current year.

WEX declared 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 buy up to 21.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, COO Robert Joseph Deshaies sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $184.95, for a total value of $184,950.00. Following the sale, the chief operating officer directly owned 19,288 shares of the company’s stock, valued at approximately $3,567,315.60. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Carlos Carriedo sold 1,075 shares of the business’s stock in a transaction dated 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 directly owned 11,076 shares of the company’s stock, valued at $2,060,136. This represents a 8.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,658 shares of company stock valued at $1,489,027 over the last three months. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. increased its position in shares of WEX by 47.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,207 shares of the business services provider’s stock valued at $4,351,000 after purchasing an additional 9,410 shares during the period. Geode Capital Management LLC lifted its position in WEX by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 638,957 shares of the business services provider’s stock worth $95,209,000 after purchasing an additional 6,971 shares during the period. CenterBook Partners LP boosted its stake in WEX by 252.7% during the fourth quarter. CenterBook Partners LP now owns 70,834 shares of the business services provider’s stock worth $10,553,000 after buying an additional 50,752 shares in the last quarter. Comerica Bank boosted its stake in WEX by 49.3% during the fourth quarter. Comerica Bank now owns 31,774 shares of the business services provider’s stock worth $4,734,000 after buying an additional 10,486 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in WEX by 143.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 20,019 shares of the business services provider’s stock valued at $2,982,000 after buying an additional 11,800 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

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.