13D Management LLC Purchases New Stake in WEX Inc. $WEX

Key Points

• 13D Management LLC disclosed a new fourth-quarter stake in WEX, buying 29,350 shares valued at about $4.37 million. The position represents roughly 5.2% of its portfolio and 0.09% of WEX.
• WEX reported better-than-expected Q1 earnings, with EPS of $4.15 versus estimates of $3.92 and revenue of $673.8 million versus $660.96 million expected. The company also raised guidance for FY2026 and Q2 2026.
• The company’s board authorized a $1 billion share buyback program, allowing repurchases of up to 21.2% of the stock. Meanwhile, analysts currently rate the stock a consensus Hold with an average target price of $173.70.

13D Management LLC purchased a new stake in WEX Inc. (NYSE:WEX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 29,350 shares of the business services provider's stock, valued at approximately $4,373,000. WEX makes up about 5.2% of 13D Management LLC's investment portfolio, making the stock its 11th biggest holding. 13D Management LLC owned about 0.09% of WEX at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WEX. American Century Companies Inc. increased its position in WEX by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider's stock valued at $471,000 after purchasing an additional 60 shares during the period. First Horizon Corp increased its position in WEX by 65.7% during the 4th quarter. First Horizon Corp now owns 237 shares of the business services provider's stock valued at $35,000 after purchasing an additional 94 shares during the period. Choreo LLC increased its position in WEX by 3.4% during the 3rd quarter. Choreo LLC now owns 2,894 shares of the business services provider's stock valued at $456,000 after purchasing an additional 95 shares during the period. Fulcrum Asset Management LLP increased its position in WEX by 1.7% during the 3rd quarter. Fulcrum Asset Management LLP now owns 5,628 shares of the business services provider's stock valued at $887,000 after purchasing an additional 95 shares during the period. Finally, Eukles Asset Management increased its position in WEX by 2.8% during the 4th quarter. Eukles Asset Management now owns 3,429 shares of the business services provider's stock valued at $511,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 97.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WEX. Raymond James Financial restated a "market perform" rating on shares of WEX in a report on Friday, March 6th. Weiss Ratings restated a "hold (c)" rating on shares of WEX in a report on Monday, April 20th. Robert W. Baird increased their price target on WEX from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft cut their price target on WEX from $180.00 to $160.00 and set a "hold" rating on the stock in a report on Friday. Finally, Wall Street Zen cut 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $173.70.

Insider Activity

In other news, COO Joel Alan Dearborn, Jr. sold 3,500 shares of WEX stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $175.00, for a total transaction of $612,500.00. Following the completion of the sale, the chief operating officer owned 22,872 shares in the company, valued at approximately $4,002,600. This trade represents a 13.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James R. Groch bought 1,500 shares of the company's stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average price of $142.95 per share, with a total value of $214,425.00. Following the transaction, the director directly owned 17,957 shares in the company, valued at $2,566,953.15. The trade was a 9.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 8,304 shares of company stock worth $1,334,155. 1.40% of the stock is currently owned by insiders.

WEX Trading Down 0.4%

Shares of WEX opened at $131.11 on Wednesday. The business has a 50-day moving average of $150.56 and a 200 day moving average of $153.28. WEX Inc. has a fifty-two week low of $128.52 and a fifty-two week high of $186.85. The firm has a market cap of $4.55 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 0.82 and a beta of 0.85. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.05 and a current ratio of 1.05.

WEX (NYSE:WEX - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The business services provider reported $4.15 EPS for the quarter, topping the consensus estimate of $3.92 by $0.23. The business had revenue of $673.80 million during the quarter, compared to the consensus estimate of $660.96 million. WEX had a return on equity of 42.66% and a net margin of 11.50%.The firm's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $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. As a group, research analysts forecast that WEX Inc. will post 16.49 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 repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to buy up to 21.2% of its stock through open market purchases. Stock repurchase programs are generally 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.

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