Lyrical Asset Management LP Sells 56,441 Shares of WEX Inc. $WEX

Lyrical Asset Management LP lessened its position in shares of WEX Inc. (NYSE:WEX) by 6.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 773,908 shares of the business services provider’s stock after selling 56,441 shares during the period. WEX accounts for 1.6% of Lyrical Asset Management LP’s holdings, making the stock its 27th biggest holding. Lyrical Asset Management LP’s holdings in WEX were worth $115,297,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Syon Capital LLC raised its stake in WEX by 31.5% during the fourth quarter. Syon Capital LLC now owns 3,134 shares of the business services provider’s stock worth $467,000 after buying an additional 751 shares during the last quarter. Capital World Investors raised its stake in WEX by 56.9% during the fourth quarter. Capital World Investors now owns 95,813 shares of the business services provider’s stock worth $14,274,000 after buying an additional 34,730 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in WEX during the fourth quarter worth $25,000. Havemeyer Place LP bought a new position in WEX during the fourth quarter worth $434,000. Finally, Lifestyle Asset Management Inc. raised its stake in WEX by 14.6% during the fourth quarter. Lifestyle Asset Management Inc. now owns 10,515 shares of the business services provider’s stock worth $1,567,000 after buying an additional 1,342 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

WEX Trading Down 0.2%

WEX opened at $147.96 on Monday. WEX Inc. has a 1-year low of $132.35 and a 1-year high of $186.85. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 2.83. The company has a market cap of $5.13 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 0.92 and a beta of 0.85. The company has a fifty day moving average price of $152.54 and a two-hundred day moving average price of $153.55.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $4.15 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.23. The firm had revenue of $673.80 million during the quarter, compared to the consensus estimate of $660.96 million. WEX had a net margin of 11.50% and a return on equity of 42.66%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.51 earnings per share. WEX has set its FY 2026 guidance at 18.950-19.550 EPS and its Q2 2026 guidance at 4.930-5.130 EPS. Analysts predict that WEX Inc. will post 16.49 EPS for the current fiscal year.

WEX declared that its board has authorized a share buyback plan on Thursday, May 14th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 21.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on WEX shares. Loop Capital started coverage on shares of WEX in a research note on Monday, April 27th. They issued a “buy” rating and a $195.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of WEX in a research note on Monday, April 20th. Raymond James Financial reaffirmed a “market perform” rating on shares of WEX in a research note on Friday, March 6th. Robert W. Baird lifted their price target on shares of WEX from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Morgan Stanley lifted their price target on shares of WEX from $146.00 to $158.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $172.70.

Insider Activity

In other WEX news, COO Joel Alan Dearborn, Jr. sold 3,500 shares of the business’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $175.00, for a total value of $612,500.00. Following the transaction, the chief operating officer directly owned 22,872 shares in the company, valued at $4,002,600. The trade was a 13.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, COO Robert Joseph Deshaies sold 1,200 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $144.84, for a total transaction of $173,808.00. Following the completion of the transaction, the chief operating officer owned 22,288 shares in the company, valued at approximately $3,228,193.92. The trade was a 5.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,019 shares of company stock valued at $1,446,996 in the last three months. 1.40% of the stock is owned by company insiders.

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.