WEX Inc. $WEX Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in shares of WEX Inc. (NYSE:WEX - Free Report) by 2,250.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,689 shares of the business services provider's stock after buying an additional 35,128 shares during the period. Hsbc Holdings PLC owned about 0.11% of WEX worth $5,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of WEX. Goldman Sachs Group Inc. boosted its holdings in WEX by 158.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider's stock valued at $55,097,000 after acquiring an additional 215,036 shares during the period. Empowered Funds LLC purchased a new stake in WEX during the first quarter worth about $394,000. American Century Companies Inc. lifted its position in shares of WEX by 1.9% during 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. EverSource Wealth Advisors LLC lifted its position in shares of WEX by 4,837.5% during the second quarter. EverSource Wealth Advisors LLC now owns 395 shares of the business services provider's stock worth $58,000 after purchasing an additional 387 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in shares of WEX in the second quarter valued at approximately $271,000. Hedge funds and other institutional investors own 97.47% of the company's stock.

Insider Buying and Selling at WEX

In related news, COO Carlos Carriedo sold 1,075 shares of the business's stock in a transaction that occurred 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 in the company, valued at $2,060,136. The trade was 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 available through the SEC website. Also, insider Ann Drew sold 3,400 shares of the company's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $176.02, for a total value of $598,468.00. Following the completion of the transaction, the insider directly owned 7,988 shares of the company's stock, valued at $1,406,047.76. This trade represents a 29.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 36,767 shares of company stock worth $6,832,266. 1.40% of the stock is currently owned by corporate insiders.

WEX Stock Performance

NYSE:WEX opened at $185.97 on Thursday. The firm has a market capitalization of $6.34 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 0.98 and a beta of 0.83. The business's fifty day moving average price is $180.12 and its 200 day moving average price is $160.77. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.04 and a quick ratio of 1.04. WEX Inc. has a 12 month low of $125.29 and a 12 month high of $203.99.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.08 by $0.27. The company had revenue of $753.50 million during 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%.WEX's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the business earned $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, sell-side analysts anticipate that WEX Inc. will post 17.11 earnings per share for the current fiscal year.

WEX declared that its board has approved a share buyback plan on Thursday, May 14th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 21.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

WEX has been the subject of a number of research reports. Mizuho lifted their price objective on shares of WEX from $170.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Weiss Ratings upgraded shares of WEX from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. Morgan Stanley raised their price target on shares of WEX from $161.00 to $172.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Wall Street Zen lowered WEX from a "buy" rating to a "hold" rating in a research report on Sunday, May 24th. Finally, Evercore upgraded WEX to an "outperform" rating in a research note on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $183.30.

WEX Company 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.

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