Primecap Management Co. CA Cuts Position in WEX Inc. $WEX

Primecap Management Co. CA trimmed its holdings in shares of WEX Inc. (NYSE:WEX) by 3.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 233,560 shares of the business services provider’s stock after selling 8,100 shares during the period. Primecap Management Co. CA owned approximately 0.68% of WEX worth $36,793,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WEX. Quent Capital LLC bought a new position in WEX during the 3rd quarter valued at approximately $28,000. Steph & Co. purchased a new stake in shares of WEX in the third quarter worth $35,000. Hantz Financial Services Inc. increased its holdings in shares of WEX by 162.1% during the third quarter. Hantz Financial Services Inc. now owns 228 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 141 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of WEX by 56.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 329 shares of the business services provider’s stock worth $53,000 after purchasing an additional 119 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in WEX by 289.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 370 shares of the business services provider’s stock worth $59,000 after purchasing an additional 275 shares in the last quarter. 97.47% of the stock is owned by institutional investors.

Insider Activity

In other WEX news, COO Carlos Carriedo sold 1,575 shares of WEX stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $159.90, for a total transaction of $251,842.50. Following the transaction, the chief operating officer owned 3,695 shares of the company’s stock, valued at $590,830.50. The trade was a 29.89% 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. Also, CAO Jennifer Kimball sold 494 shares of WEX stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $151.40, for a total transaction of $74,791.60. Following the transaction, the chief accounting officer owned 3,671 shares in the company, valued at approximately $555,789.40. This trade represents a 11.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 8,154 shares of company stock valued at $1,256,518. 1.40% of the stock is owned by insiders.

WEX Trading Up 0.9%

WEX stock opened at $151.37 on Friday. The business has a 50-day simple moving average of $155.15 and a two-hundred day simple moving average of $156.86. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $180.71. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.86. The company has a market cap of $5.19 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.16 and a beta of 0.98.

WEX (NYSE:WEX) last announced its earnings results on Wednesday, February 4th. The business services provider reported $4.11 EPS for the quarter, beating analysts’ consensus estimates of $3.90 by $0.21. The business had revenue of $672.90 million during the quarter, compared to analysts’ expectations of $660.89 million. WEX had a net margin of 11.43% and a return on equity of 48.01%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.57 earnings per share. WEX has set its FY 2026 guidance at 17.250-17.850 EPS and its Q1 2026 guidance at 3.80-4.000 EPS. Analysts predict that WEX Inc. will post 14.09 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on WEX. Mizuho reduced their price objective on shares of WEX from $180.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. Morgan Stanley set a $146.00 price objective on shares of WEX in a report on Friday, February 6th. UBS Group set a $165.00 target price on WEX and gave the company a “neutral” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. decreased their price target on WEX from $175.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, February 6th. Finally, Cantor Fitzgerald lifted their price objective on WEX from $158.00 to $166.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Three research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $162.27.

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.