WEX Inc. $WEX Shares Bought by Lone Peak Global Investors LLC

Key Points

• Lone Peak Global Investors increased its WEX stake by 37.7% in the second quarter, holding 127,062 shares valued at approximately $17.9 million. Institutional investors and hedge funds collectively own 97.47% of WEX.
• WEX exceeded quarterly expectations, reporting $5.35 in adjusted earnings per share and $753.5 million in revenue, with revenue up 14.2% year over year. The company issued third-quarter EPS guidance of $5.45–$5.65 and fiscal-year guidance of $19.68–$20.08.
• WEX authorized a $1 billion stock buyback, allowing repurchases of up to 21.2% of outstanding shares. Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $183.30, below the reported share price of $188.80.

Lone Peak Global Investors LLC lifted its holdings in WEX Inc. (NYSE:WEX - Free Report) by 37.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 127,062 shares of the business services provider's stock after purchasing an additional 34,805 shares during the quarter. WEX accounts for approximately 2.5% of Lone Peak Global Investors LLC's holdings, making the stock its 23rd largest position. Lone Peak Global Investors LLC owned approximately 0.37% of WEX worth $17,927,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Two Sigma Securities LLC acquired a new stake in WEX in the second quarter worth about $220,000. Hsbc Holdings PLC increased its stake in WEX by 2,250.4% during the 2nd quarter. Hsbc Holdings PLC now owns 36,689 shares of the business services provider's stock valued at $5,038,000 after buying an additional 35,128 shares during the period. Empowered Funds LLC acquired a new position in WEX during the 2nd quarter valued at about $5,099,000. Formula Growth Ltd. bought a new stake in shares of WEX during the 2nd quarter worth about $1,157,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of WEX in the 2nd quarter worth approximately $5,982,000. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Stock Down 0.9%

NYSE WEX opened at $188.80 on Wednesday. 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 company's 50 day simple moving average is $173.67 and its 200 day simple moving average is $159.28. WEX Inc. has a 12 month low of $125.29 and a 12 month high of $203.99. The company has a market capitalization of $6.43 billion, a P/E ratio of 18.80, a PEG ratio of 0.99 and a beta of 0.83.

WEX (NYSE:WEX - Get Free Report) last issued 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. The firm had revenue of $753.50 million during the quarter, compared to analysts' expectations of $740.72 million. WEX had a net margin of 12.56% and a return on equity of 43.19%. The firm's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the firm posted $3.95 earnings per share. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. Equities research analysts expect that WEX Inc. will post 17.11 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald set a $178.00 price objective on shares of WEX in a report on Monday, July 27th. Keefe, Bruyette & Woods upped their target price on WEX from $200.00 to $210.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft decreased their price target on WEX from $180.00 to $160.00 and set a "hold" rating for the company in a research note on Friday, June 12th. Mizuho lifted their price target on WEX from $170.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Finally, Weiss Ratings upgraded WEX from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $183.30.

Insider Buying and Selling

In other news, COO Carlos Carriedo sold 1,075 shares of the business's stock in a transaction 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 sale, the chief operating officer directly owned 11,076 shares of the company's stock, valued at $2,060,136. The trade was a 8.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ann Elena Drew sold 3,400 shares of the company's stock in a transaction 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 sale, the insider directly owned 7,988 shares of the company's stock, valued at approximately $1,406,047.76. This represents a 29.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,658 shares of company stock worth $1,489,027 over the last quarter. 1.40% of the stock is currently owned by insiders.

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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