SG Americas Securities LLC Purchases 53,260 Shares of WEX Inc. $WEX

Key Points

• SG Americas Securities LLC significantly increased its stake in WEX, buying 53,260 additional shares in Q1 and lifting its holdings to 67,927 shares worth about $10.4 million.
• WEX reported better-than-expected Q1 results, with EPS of $4.15 versus estimates of $3.92 and revenue of $673.8 million, up 5.8% from a year earlier.
• The company also announced a $1 billion stock buyback authorization, while analysts remain mixed overall with a consensus rating of Hold and an average price target of $173.70.

SG Americas Securities LLC boosted its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 363.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,927 shares of the business services provider's stock after buying an additional 53,260 shares during the period. SG Americas Securities LLC owned about 0.20% of WEX worth $10,396,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. raised its position in WEX by 1.9% in the second quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider's stock worth $471,000 after purchasing an additional 60 shares in the last quarter. First Horizon Corp increased its position in shares of WEX by 65.7% during the 4th quarter. First Horizon Corp now owns 237 shares of the business services provider's stock worth $35,000 after purchasing an additional 94 shares in the last quarter. Choreo LLC increased its position in shares of WEX by 3.4% during the 3rd quarter. Choreo LLC now owns 2,894 shares of the business services provider's stock worth $456,000 after purchasing an additional 95 shares in the last quarter. Fulcrum Asset Management LLP lifted its holdings in WEX by 1.7% during the 3rd quarter. Fulcrum Asset Management LLP now owns 5,628 shares of the business services provider's stock valued at $887,000 after purchasing an additional 95 shares during the last quarter. Finally, Eukles Asset Management boosted its position in WEX by 2.8% in the fourth quarter. Eukles Asset Management now owns 3,429 shares of the business services provider's stock valued at $511,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 97.47% of the company's stock.

WEX Trading Up 3.6%

Shares of NYSE WEX opened at $137.92 on Friday. WEX Inc. has a fifty-two week low of $125.29 and a fifty-two week high of $186.85. The firm has a market capitalization of $4.78 billion, a P/E ratio of 15.48, a P/E/G ratio of 0.82 and a beta of 0.85. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.05 and a quick ratio of 1.05. The company's 50 day simple moving average is $145.56 and its 200 day simple moving average is $152.23.

WEX (NYSE:WEX - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The business services provider reported $4.15 EPS for the quarter, beating the consensus estimate of $3.92 by $0.23. The company had revenue of $673.80 million during the quarter, compared to analysts' expectations of $660.96 million. WEX had a net margin of 11.50% and a return on equity of 42.66%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.51 EPS. WEX has set its FY 2026 guidance at 18.950-19.550 EPS and its Q2 2026 guidance at 4.930-5.130 EPS. On average, analysts predict that WEX Inc. will post 16.77 EPS for the current year.

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

Analysts Set New Price Targets

Several analysts have weighed in on WEX shares. Morgan Stanley upped their price objective on shares of WEX from $146.00 to $158.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 21st. Raymond James Financial reiterated a "market perform" rating on shares of WEX in a research report on Friday, March 6th. Loop Capital assumed coverage on WEX in a research note on Monday, April 27th. They issued a "buy" rating and a $195.00 target price for the company. Weiss Ratings lowered WEX from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday. Finally, Robert W. Baird upped their price target on WEX from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $173.70.

Insider Buying and Selling at WEX

In other WEX news, COO Joel Alan Dearborn, Jr. sold 3,500 shares of the firm's stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $175.00, for a total transaction of $612,500.00. Following the transaction, the chief operating officer owned 22,872 shares in the company, valued at approximately $4,002,600. This trade represents a 13.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Robert Joseph Deshaies sold 1,200 shares of the business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $144.84, for a total value of $173,808.00. Following the transaction, the chief operating officer owned 22,288 shares of the company's stock, valued at $3,228,193.92. The trade was a 5.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 8,200 shares of company stock valued at $1,318,798. 1.40% of the stock is currently owned by company insiders.

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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