Corient Private Wealth LP Invests $3.79 Million in WEX Inc. $WEX

Key Points

• Corient Private Wealth LP purchased 26,895 WEX shares worth approximately $3.79 million in the second quarter, while institutional investors collectively owned 97.47% of the company.
• WEX exceeded quarterly expectations, reporting $5.35 in EPS and $753.5 million in revenue, with revenue up 14.2% year over year. The company also authorized a $1 billion share-buyback program covering up to 21.2% of outstanding shares.
• Analyst sentiment remains mixed but improving: six analysts rate WEX a Buy and eight rate it a Hold, producing an average rating of “Hold” and an average price target of $183.30.

Corient Private Wealth LP purchased a new stake in WEX Inc. (NYSE:WEX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 26,895 shares of the business services provider's stock, valued at approximately $3,795,000. Corient Private Wealth LP owned 0.08% of WEX as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Bank of America Corp DE acquired a new stake in WEX during the 2nd quarter worth about $115,086,000. Jupiter Topco LLC acquired a new position in shares of WEX in the second quarter worth about $559,710,000. Hsbc Holdings PLC acquired a new position in shares of WEX in the second quarter worth about $5,038,000. Primecap Management Co. CA purchased a new position in shares of WEX in the second quarter worth approximately $7,712,000. Finally, Palisade Capital Management LP purchased a new position in shares of WEX in the second quarter worth approximately $1,780,000. Hedge funds and other institutional investors own 97.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on WEX shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of WEX from $180.00 to $160.00 and set a "hold" rating for the company in a research report on Friday, June 12th. Mizuho lifted their price objective 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. Weiss Ratings raised shares of WEX from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 7th. Keefe, Bruyette & Woods increased their target price on WEX from $200.00 to $210.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Finally, Evercore raised WEX to an "outperform" rating in a research report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, WEX has an average rating of "Hold" and an average target price of $183.30.

WEX Price Performance

Shares of WEX opened at $188.80 on Wednesday. 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 company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 0.99 and a beta of 0.83. The business's 50-day moving average is $173.67 and its 200-day moving average is $159.28. WEX Inc. has a fifty-two week low of $125.29 and a fifty-two week high of $203.99.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, beating analysts' consensus estimates 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 firm's revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted $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. Equities research analysts expect that WEX Inc. will post 17.11 EPS for the current fiscal year.

WEX announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 14th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to repurchase up to 21.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at WEX

In related news, COO Carlos Carriedo sold 1,075 shares of WEX stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $186.00, for a total transaction of $199,950.00. Following the completion of the sale, the chief operating officer owned 11,076 shares of the company's stock, valued at approximately $2,060,136. This trade represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer Kimball sold 1,183 shares of the business's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $176.55, for a total value of $208,858.65. Following the completion of the transaction, the chief accounting officer owned 4,916 shares in the company, valued at $867,919.80. This trade represents a 19.40% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 8,658 shares of company stock valued at $1,489,027. Insiders own 1.40% of the company's stock.

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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