Corient Private Wealth LP Buys 15,733 Shares of WEX Inc. $WEX

Key Points

• Corient Private Wealth more than doubled its WEX stake in the second quarter, purchasing 15,733 additional shares and bringing its holdings to 29,984 shares valued at approximately $4.23 million. Institutional investors collectively own 97.47% of WEX.
• WEX insiders sold 40,110 shares worth about $7.5 million over the past 90 days, including substantial sales by CEO Melissa Smith and COO Robert Deshaies under pre-arranged Rule 10b5-1 plans.
• WEX exceeded quarterly earnings and revenue expectations, reporting $5.35 in EPS and $753.5 million in revenue, with revenue up 14.2% year over year. Analysts maintain a consensus “Hold” rating and an average price target of $185.64.

Corient Private Wealth LP grew its stake in WEX Inc. (NYSE:WEX - Free Report) by 110.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,984 shares of the business services provider's stock after purchasing an additional 15,733 shares during the period. Corient Private Wealth LP owned about 0.09% of WEX worth $4,230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Global Retirement Partners LLC acquired a new stake in WEX during the second quarter worth $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in WEX in the 2nd quarter valued at $41,000. Root Financial Partners LLC grew its position in WEX by 255.0% in the first quarter. Root Financial Partners LLC now owns 355 shares of the business services provider's stock valued at $54,000 after acquiring an additional 255 shares during the period. IFP Advisors Inc raised its stake in WEX by 225.4% during the fourth quarter. IFP Advisors Inc now owns 371 shares of the business services provider's stock worth $55,000 after acquiring an additional 257 shares in the last quarter. Finally, Cache Advisors LLC bought a new position in shares of WEX during the first quarter valued at $60,000. Institutional investors own 97.47% of the company's stock.

Insider Transactions at WEX

In other news, COO Robert Deshaies sold 2,000 shares of the company's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $148.40, for a total value of $296,800.00. Following the completion of the sale, the chief operating officer directly owned 20,288 shares of the company's stock, valued at $3,010,739.20. This represents a 8.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Melissa D. Smith sold 28,109 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were 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. This represents a 18.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 40,110 shares of company stock valued at $7,500,866. Corporate insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WEX. Morgan Stanley lifted their target price on shares of WEX from $161.00 to $172.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Mizuho increased their price target on 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 price objective on WEX from $180.00 to $160.00 and set a "hold" rating for the company in a research report on Friday, June 12th. Keefe, Bruyette & Woods boosted their price objective on WEX from $200.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Finally, Piper Sandler assumed coverage on WEX in a report on Thursday, September 10th. They set a "neutral" rating and a $209.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $185.64.

WEX Price Performance

Shares of WEX stock opened at $193.29 on Friday. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.01 and a beta of 0.83. WEX Inc. has a 12 month low of $125.29 and a 12 month high of $203.99. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.62. The stock has a 50-day moving average price of $186.36 and a 200 day moving average price of $162.85.

WEX (NYSE:WEX - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.08 by $0.27. WEX had a net margin of 12.56% and a return on equity of 43.19%. The company had revenue of $753.50 million for the quarter, compared to analyst estimates of $740.72 million. During the same quarter last year, the firm 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. Research analysts expect that WEX Inc. will post 17.13 EPS for the current year.

WEX Profile

WEX Inc NYSE: WEX is a global financial technology company that provides payment and expense-management solutions for businesses. Its offerings help organizations manage vehicle-related spending, corporate payments, travel expenses, and employee benefits through specialized payment products and digital platforms.

WEX's mobility business provides fleet payment cards, fuel and maintenance expense management, telematics-related tools, and other services for commercial fleets, trucking companies, government agencies, and transportation businesses.

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