Geode Capital Management LLC Buys 6,971 Shares of WEX Inc. $WEX

Key Points

• Geode Capital Management increased its WEX stake by 1.1% in the fourth quarter, buying 6,971 additional shares and bringing its total holdings to 638,957 shares worth about $95.2 million.
• WEX reported better-than-expected quarterly results, with EPS of $4.15 versus estimates of $3.92 and revenue of $673.8 million, while also raising guidance for FY 2026 and Q2 2026.
• The company’s board authorized a $1 billion share buyback program, covering up to 21.2% of outstanding shares, even as analysts maintain a consensus Hold rating on the stock.

Geode Capital Management LLC lifted its holdings in WEX Inc. (NYSE:WEX - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 638,957 shares of the business services provider's stock after buying an additional 6,971 shares during the quarter. Geode Capital Management LLC owned approximately 1.86% of WEX worth $95,209,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Eukles Asset Management raised its holdings in shares of WEX by 2.8% in the fourth quarter. Eukles Asset Management now owns 3,429 shares of the business services provider's stock worth $511,000 after buying an additional 95 shares during the period. Clearstead Advisors LLC increased its stake in WEX by 214.7% in the fourth quarter. Clearstead Advisors LLC now owns 450 shares of the business services provider's stock worth $67,000 after purchasing an additional 307 shares during the period. Hantz Financial Services Inc. increased its stake in WEX by 228.5% in the fourth quarter. Hantz Financial Services Inc. now owns 749 shares of the business services provider's stock worth $112,000 after purchasing an additional 521 shares during the period. EverSource Wealth Advisors LLC increased its stake in WEX by 163.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,087 shares of the business services provider's stock worth $162,000 after purchasing an additional 675 shares during the period. Finally, Legato Capital Management LLC increased its stake in WEX by 19.2% in the fourth quarter. Legato Capital Management LLC now owns 2,470 shares of the business services provider's stock worth $368,000 after purchasing an additional 398 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

WEX Stock Up 0.7%

Shares of NYSE:WEX opened at $147.96 on Friday. The business's 50 day moving average is $152.54 and its 200 day moving average is $153.43. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.83. The stock has a market cap of $5.13 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 0.92 and a beta of 0.85. WEX Inc. has a 52-week low of $132.35 and a 52-week high of $186.85.

WEX (NYSE:WEX - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The business services provider reported $4.15 earnings per share for the quarter, topping analysts' consensus estimates of $3.92 by $0.23. The company had revenue of $673.80 million during the quarter, compared to analyst estimates of $660.96 million. WEX had a return on equity of 42.66% and a net margin of 11.50%.WEX's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.51 earnings per share. WEX has set its FY 2026 guidance at 18.950-19.550 EPS and its Q2 2026 guidance at 4.930-5.130 EPS. Sell-side analysts predict that WEX Inc. will post 16.49 EPS for the current year.

WEX announced that its board has authorized a share repurchase program on Thursday, May 14th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to reacquire up to 21.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley increased their target price on WEX from $146.00 to $158.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 21st. Wall Street Zen lowered WEX from a "buy" rating to a "hold" rating in a research note on Sunday, May 24th. Cantor Fitzgerald increased their target price on WEX from $158.00 to $166.00 and gave the stock a "neutral" rating in a research note on Monday, February 9th. Raymond James Financial reiterated a "market perform" rating on shares of WEX in a research note on Friday, March 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of WEX in a research note on Monday, April 20th. Four research 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, the stock has a consensus rating of "Hold" and a consensus target price of $172.70.

Insider Buying and Selling

In other WEX news, COO Joel Alan Dearborn, Jr. sold 3,500 shares of the company's stock in a transaction on 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 $4,002,600. This represents a 13.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer Kimball sold 715 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $157.82, for a total value of $112,841.30. Following the sale, the chief accounting officer owned 6,203 shares of the company's stock, valued at approximately $978,957.46. This represents a 10.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,019 shares of company stock worth $1,446,996 in the last three months. Corporate insiders own 1.40% of the company's stock.

WEX Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.