WEX Inc. $WEX Shares Sold by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its WEX stake by 27.9% in the second quarter, selling 7,187 shares and retaining 18,537 shares worth approximately $2.6 million. Institutional investors collectively own 97.47% of WEX.
• Analyst sentiment remains mixed, with six Buy ratings and nine Hold ratings producing a consensus “Hold” rating and an average price target of $185.64. WEX shares recently opened at $191.22.
• WEX exceeded quarterly expectations, reporting $5.35 in adjusted EPS versus the $5.08 consensus and revenue of $753.5 million versus $740.72 million expected. Insiders, including CEO Melissa D. Smith, sold 36,767 shares worth $6.83 million over the past 90 days.

Squarepoint Ops LLC lessened its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 27.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,537 shares of the business services provider's stock after selling 7,187 shares during the quarter. Squarepoint Ops LLC owned about 0.05% of WEX worth $2,615,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in shares of WEX by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider's stock worth $471,000 after acquiring an additional 60 shares during the period. Eukles Asset Management raised its holdings in WEX by 2.8% during the fourth quarter. Eukles Asset Management now owns 3,429 shares of the business services provider's stock worth $511,000 after purchasing an additional 95 shares in the last quarter. Nicolet Advisory Services LLC raised its holdings in WEX by 8.1% during the third quarter. Nicolet Advisory Services LLC now owns 1,362 shares of the business services provider's stock worth $214,000 after purchasing an additional 102 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in WEX by 0.9% in the third quarter. Public Employees Retirement System of Ohio now owns 11,095 shares of the business services provider's stock valued at $1,748,000 after purchasing an additional 104 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its position in WEX by 2.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 6,280 shares of the business services provider's stock valued at $961,000 after purchasing an additional 124 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on WEX shares. Piper Sandler initiated coverage on WEX in a research report on Thursday. They set a "neutral" rating and a $209.00 target price on the stock. Weiss Ratings raised WEX from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. Mizuho lifted their price target on WEX from $170.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on WEX from $180.00 to $160.00 and set a "hold" rating on the stock in a report on Friday, June 12th. Finally, Cantor Fitzgerald set a $178.00 target price on WEX in a report on Monday, July 27th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $185.64.

WEX Stock Performance

NYSE WEX opened at $191.22 on Monday. The business has a 50 day moving average price of $181.89 and a 200 day moving average price of $161.28. The company has a market capitalization of $6.52 billion, a P/E ratio of 19.05, a PEG ratio of 1.00 and a beta of 0.83. WEX Inc. has a 1-year low of $125.29 and a 1-year high of $203.99. 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 (NYSE:WEX - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, topping analysts' consensus estimates of $5.08 by $0.27. The company 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%.WEX's quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business earned $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. Sell-side analysts expect that WEX Inc. will post 17.11 EPS for the current fiscal year.

Insider Buying and Selling

In other WEX news, insider Ann Drew sold 3,400 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $176.02, for a total transaction of $598,468.00. Following the sale, the insider owned 7,988 shares in the company, valued at approximately $1,406,047.76. This represents a 29.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Melissa D. Smith sold 28,109 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $190.09, for a total value of $5,343,239.81. Following the transaction, the chief executive officer directly owned 126,625 shares of the company's stock, valued at $24,070,146.25. The trade was a 18.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 36,767 shares of company stock valued at $6,832,266. 1.40% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding WEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEX Inc. (NYSE:WEX - Free Report).

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.