Engineers Gate Manager LP Takes Position in WEX Inc. $WEX

Engineers Gate Manager LP bought a new position in shares of WEX Inc. (NYSE:WEX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 9,768 shares of the business services provider's stock, valued at approximately $1,378,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of WEX by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 638,957 shares of the business services provider's stock valued at $95,209,000 after purchasing an additional 6,971 shares in the last quarter. Clifford Capital Partners LLC acquired a new stake in WEX during the 4th quarter worth approximately $14,202,000. CenterBook Partners LP boosted its position in WEX by 252.7% in the 4th quarter. CenterBook Partners LP now owns 70,834 shares of the business services provider's stock valued at $10,553,000 after buying an additional 50,752 shares during the period. Callan Family Office LLC purchased a new position in WEX in the 2nd quarter valued at approximately $849,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of WEX in the second quarter worth $1,496,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Stock Down 1.0%

Shares of NYSE WEX opened at $195.15 on Friday. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 1.03 and a beta of 0.83. 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 business has a 50-day moving average of $185.64 and a two-hundred day moving average of $162.64. WEX Inc. has a 1 year low of $125.29 and a 1 year high of $203.99.

WEX (NYSE:WEX - Get Free Report) last released 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 business had revenue of $753.50 million for the quarter, compared to the consensus estimate of $740.72 million. WEX had a return on equity of 43.19% and a net margin of 12.56%.The business's revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.95 EPS. 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 forecast that WEX Inc. will post 17.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Melissa D. Smith sold 28,109 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $190.09, for a total value of $5,343,239.81. Following the completion of the transaction, the chief executive officer owned 126,625 shares in the company, valued at approximately $24,070,146.25. This represents a 18.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Robert Deshaies sold 2,000 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $148.40, for a total transaction of $296,800.00. Following the completion of the transaction, the chief operating officer directly owned 20,288 shares in the company, valued at $3,010,739.20. This trade represents a 8.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 40,110 shares of company stock valued at $7,500,866 over the last three months. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WEX. Mizuho lifted their target price on WEX from $170.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Wall Street Zen downgraded WEX from a "buy" rating to a "hold" rating in a report on Sunday, May 24th. Deutsche Bank Aktiengesellschaft reduced their price target on WEX from $180.00 to $160.00 and set a "hold" rating on the stock in a research report on Friday, June 12th. Morgan Stanley boosted their price objective on WEX from $161.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods upped their target price on shares of WEX from $200.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, WEX has an average rating of "Hold" and a consensus target price of $185.64.

WEX Company 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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