Pictet Asset Management Holding SA Trims Stock Holdings in WEX Inc. $WEX

Pictet Asset Management Holding SA decreased its position in WEX Inc. (NYSE:WEX) by 49.2% in the first quarter, Holdings Channel.com reports. The firm owned 5,024 shares of the business services provider’s stock after selling 4,859 shares during the quarter. Pictet Asset Management Holding SA’s holdings in WEX were worth $769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Par Capital Management Inc. grew its position 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 worth $335,503,000 after buying an additional 400,500 shares during the period. Boston Partners boosted its stake in WEX by 13.7% during the fourth quarter. Boston Partners now owns 1,447,442 shares of the business services provider’s stock worth $215,955,000 after acquiring an additional 174,079 shares in the last quarter. Earnest Partners LLC boosted its stake in WEX by 1.1% during the third quarter. Earnest Partners LLC now owns 907,803 shares of the business services provider’s stock worth $143,006,000 after acquiring an additional 10,027 shares in the last quarter. AQR Capital Management LLC grew its holdings in WEX by 794.0% in the fourth quarter. AQR Capital Management LLC now owns 889,802 shares of the business services provider’s stock worth $132,563,000 after purchasing an additional 790,271 shares during the period. Finally, Bank of America Corp DE grew its holdings in WEX by 8.6% in the third quarter. Bank of America Corp DE now owns 879,033 shares of the business services provider’s stock worth $138,474,000 after purchasing an additional 69,375 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Trading Down 2.8%

NYSE:WEX opened at $148.92 on Thursday. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.94 and a beta of 0.85. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.83. The company’s 50 day moving average price is $141.98 and its 200-day moving average price is $151.87. WEX Inc. has a 52 week low of $125.29 and a 52 week high of $186.85.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.23. The company had revenue of $673.80 million during the quarter, compared to analyst estimates of $660.96 million. WEX had a net margin of 11.50% and a return on equity of 42.66%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.51 EPS. WEX has set its FY 2026 guidance at 18.950-19.550 EPS and its Q2 2026 guidance at 4.930-5.130 EPS. On average, equities research analysts forecast that WEX Inc. will post 16.77 earnings per share for the current fiscal year.

WEX announced that its Board of Directors has approved a share repurchase program on Thursday, May 14th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 21.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other WEX news, COO Joel Alan Dearborn, Jr. sold 3,500 shares of WEX stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $175.00, for a total value of $612,500.00. Following the completion of the sale, the chief operating officer owned 22,872 shares of the company’s stock, valued at approximately $4,002,600. This trade represents a 13.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Robert Joseph Deshaies sold 2,000 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $148.40, for a total value of $296,800.00. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,700 shares of company stock valued at $1,083,108. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

WEX has been the subject of several recent research reports. Robert W. Baird lifted their target price on shares of WEX from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Weiss Ratings downgraded WEX from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 24th. Loop Capital started coverage on WEX in a research note on Monday, April 27th. They set a “buy” rating and a $195.00 price objective for the company. Cantor Fitzgerald dropped their target price on WEX from $173.00 to $152.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. Finally, Wall Street Zen cut WEX from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Four research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, WEX has a consensus rating of “Hold” and an average target price of $172.30.

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.