WEX Inc. $WEX Stock Position Reduced by Sunriver Management LLC

Key Points

• Sunriver Management LLC reduced its WEX stake by 38.1% in the first quarter, selling 125,483 shares and leaving it with 203,694 shares worth about $31.2 million. Despite the cut, WEX remained Sunriver’s 8th-largest holding.
• WEX beat second-quarter expectations and raised guidance. The company reported EPS of $5.35 on revenue of $753.5 million, both above estimates, and increased its full-year outlook to $19.68-$20.08 in adjusted EPS.
• The company authorized a $1 billion share buyback, a move that typically signals management believes the stock may be undervalued. Analyst sentiment is mixed, with a consensus rating of Hold and an average target price of $179.73.

Sunriver Management LLC lessened its stake in WEX Inc. (NYSE:WEX - Free Report) by 38.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 203,694 shares of the business services provider's stock after selling 125,483 shares during the quarter. WEX accounts for about 5.3% of Sunriver Management LLC's holdings, making the stock its 8th biggest position. Sunriver Management LLC owned approximately 0.59% of WEX worth $31,173,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in shares of WEX during the 1st quarter valued at $291,000. Public Employees Retirement System of Ohio raised its holdings in shares of WEX by 17.1% during the first quarter. Public Employees Retirement System of Ohio now owns 19,579 shares of the business services provider's stock worth $2,996,000 after acquiring an additional 2,865 shares in the last quarter. Compound Planning Inc. purchased a new stake in shares of WEX during the first quarter worth $230,000. Inceptionr LLC acquired a new stake in WEX during the first quarter valued at $210,000. Finally, Bank of Nova Scotia acquired a new stake in WEX during the first quarter valued at $643,000. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Price Performance

NYSE WEX opened at $176.56 on Friday. WEX Inc. has a fifty-two week low of $125.29 and a fifty-two week high of $186.85. The stock's 50-day moving average is $146.40 and its two-hundred day moving average is $152.75. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.04 and a quick ratio of 1.05. The firm has a market cap of $6.12 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 1.05 and a beta of 0.85.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.The firm's revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $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, analysts anticipate that WEX Inc. will post 16.88 earnings per share for the current fiscal year.

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

Insider Activity at WEX

In other WEX news, COO Robert Joseph Deshaies sold 2,000 shares of the company's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $148.40, for a total transaction of $296,800.00. Following the completion of the sale, the chief operating officer owned 20,288 shares of the company's stock, valued at $3,010,739.20. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James R. Groch purchased 1,500 shares of the stock in a transaction on Monday, May 18th. The shares were bought at an average price of $142.95 per share, for a total transaction of $214,425.00. Following the acquisition, the director owned 17,957 shares of the company's stock, valued at approximately $2,566,953.15. The trade was a 9.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.40% of the stock is currently owned by insiders.

Key Stories Impacting WEX

Here are the key news stories impacting WEX this week:

• Positive Sentiment: WEX beat Q2 2026 expectations on both revenue and earnings, with revenue up 14.2% year over year to $753.5 million and adjusted EPS rising to $5.35, helping support bullish investor sentiment. Article Title
• Positive Sentiment: The company raised full-year guidance, now targeting $2.86 billion to $2.90 billion in revenue and $19.68 to $20.08 in adjusted EPS, which signals management confidence in continued growth. Article Title
• Positive Sentiment: Keefe, Bruyette & Woods lifted its price target on WEX to $210 from $200 and reiterated an outperform rating, implying additional upside from current levels. Article Title

Analysts Set New Price Targets

Several brokerages have weighed in on WEX. 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. Cantor Fitzgerald reiterated a "neutral" rating on shares of WEX in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered 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. Weiss Ratings lowered shares of WEX from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday. Finally, Wall Street Zen cut shares of WEX from a "buy" rating to a "hold" rating in a research note on Sunday, May 24th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $179.73.

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.

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.