WEX (NYSE:WEX) Reaches New 12-Month High - Here's What Happened

Key Points

• WEX shares reached a new 52-week high of $191.72 during mid-day trading, up from a prior close of $189.19, despite the stock’s average analyst rating remaining “Hold.”
• The company exceeded quarterly expectations, reporting $5.35 in EPS and $753.5 million in revenue, with revenue up 14.2% year over year. WEX also authorized a $1 billion share-repurchase program covering up to 21.2% of outstanding shares.
• Analyst sentiment was mixed but included higher price targets from Mizuho and Keefe, Bruyette & Woods, while insiders sold 8,783 shares worth about $1.46 million over the past 90 days. Institutional investors own a substantial 97.47% of the company.

WEX Inc. (NYSE:WEX - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $191.72 and last traded at $191.56, with a volume of 54697 shares trading hands. The stock had previously closed at $189.19.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WEX. Mizuho increased their price objective on WEX from $170.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Wall Street Zen lowered WEX from a "buy" rating to a "hold" rating in a report on Sunday, May 24th. Weiss Ratings downgraded shares of WEX from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods raised their price objective on shares of WEX from $200.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Finally, Evercore raised shares of WEX to an "outperform" rating in a research note on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, WEX currently has an average rating of "Hold" and an average price target of $183.30.

WEX Stock Up 0.2%

The stock's fifty day moving average price is $151.88 and its 200 day moving average price is $154.11. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.62. The stock has a market cap of $6.46 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 1.04 and a beta of 0.82.

WEX (NYSE:WEX - Get Free Report) last announced its 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 analyst estimates of $740.72 million. WEX had a net margin of 12.56% and a return on equity of 43.19%. The firm'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. As a group, research analysts forecast that WEX Inc. will post 17.12 earnings per share for the current fiscal year.

WEX declared that its board has initiated a share repurchase program on Thursday, May 14th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to repurchase up to 21.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Insider Transactions at WEX

In related news, COO Robert Joseph Deshaies sold 2,000 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $148.40, for a total transaction of $296,800.00. Following the transaction, the chief operating officer directly owned 20,288 shares of the company's stock, valued at approximately $3,010,739.20. This trade represents a 8.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer Kimball sold 1,183 shares of the business's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $176.55, for a total value of $208,858.65. Following the completion of the sale, the chief accounting officer owned 4,916 shares of the company's stock, valued at $867,919.80. The trade was a 19.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,783 shares of company stock valued at $1,462,885 over the last 90 days. Company insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On WEX

A number of large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in WEX by 794.0% during the fourth quarter. AQR Capital Management LLC now owns 889,802 shares of the business services provider's stock valued at $132,563,000 after buying an additional 790,271 shares during the period. Turtle Creek Asset Management Inc. purchased a new position in shares of WEX in the third quarter worth about $93,289,000. Par Capital Management Inc. lifted its stake in shares of WEX by 21.6% in the 4th quarter. Par Capital Management Inc. now owns 2,252,000 shares of the business services provider's stock valued at $335,503,000 after acquiring an additional 400,500 shares during the last quarter. Norges Bank bought a new stake in shares of WEX in the 4th quarter valued at about $50,202,000. Finally, New South Capital Management Inc. boosted its holdings in WEX by 627.0% during the 4th quarter. New South Capital Management Inc. now owns 268,023 shares of the business services provider's stock valued at $39,930,000 after acquiring an additional 231,158 shares during the period. Hedge funds and other institutional investors own 97.47% of the company's stock.

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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