Empowered Funds LLC purchased a new position in WEX Inc. (NYSE:WEX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 36,137 shares of the business services provider's stock, valued at approximately $5,099,000. Empowered Funds LLC owned about 0.11% of WEX as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the company. Jupiter Topco LLC bought a new stake in shares of WEX in the second quarter worth about $559,710,000. Janus Henderson Group PLC raised its position in WEX by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 3,916,073 shares of the business services provider's stock valued at $599,313,000 after purchasing an additional 44,031 shares during the last quarter. BlackRock Inc. bought a new position in WEX during the 2nd quarter valued at approximately $446,833,000. Par Capital Management Inc. lifted its holdings in WEX by 21.6% in the 4th quarter. Par Capital Management Inc. now owns 2,252,000 shares of the business services provider's stock worth $335,503,000 after buying an additional 400,500 shares during the period. Finally, Boston Partners lifted its holdings in WEX by 13.7% in the 4th quarter. Boston Partners now owns 1,447,442 shares of the business services provider's stock worth $215,955,000 after buying an additional 174,079 shares during the period. Hedge funds and other institutional investors own 97.47% of the company's stock.
WEX Stock Performance
Shares of WEX opened at $190.82 on Tuesday. The company has a 50-day simple moving average of $172.49 and a two-hundred day simple moving average of $159.11. 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 firm has a market capitalization of $6.50 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.03 and a beta of 0.82. WEX Inc. has a one year low of $125.29 and a one year high of $203.99.
WEX (NYSE:WEX - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $740.72 million. During the same quarter in the prior year, the business earned $3.95 EPS. The business'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. On average, analysts anticipate that WEX Inc. will post 17.11 EPS for the current fiscal year.
WEX announced that its board has authorized a share buyback program on Thursday, May 14th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 21.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on WEX. Wall Street Zen cut WEX from a "buy" rating to a "hold" rating in a research note on Sunday, May 24th. Morgan Stanley raised their price target on WEX from $161.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Cantor Fitzgerald set a $178.00 price target on shares of WEX in a report on Monday, July 27th. Mizuho lifted their price target on shares of WEX from $170.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Finally, Weiss Ratings raised shares of WEX from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, WEX currently has an average rating of "Hold" and an average target price of $183.30.
Read Our Latest Report on WEX
Insider Transactions at WEX
In other WEX news, COO Carlos Carriedo sold 1,075 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $186.00, for a total value of $199,950.00. Following the completion of the transaction, the chief operating officer owned 11,076 shares in the company, valued at approximately $2,060,136. This 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 can be accessed through this link. Also, COO Robert Joseph Deshaies sold 1,000 shares of the firm's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $184.95, for a total value of $184,950.00. Following the transaction, the chief operating officer directly owned 19,288 shares of the company's stock, valued at $3,567,315.60. This represents a 4.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 8,658 shares of company stock valued at $1,489,027. Company insiders own 1.40% of the company's stock.
About WEX
(
Free Report)
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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