State of Wyoming Reduces Position in WEX Inc. $WEX

State of Wyoming trimmed its holdings in WEX Inc. (NYSE:WEX) by 56.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,364 shares of the business services provider’s stock after selling 3,057 shares during the period. State of Wyoming’s holdings in WEX were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new stake in WEX during the 4th quarter valued at about $25,000. Caitong International Asset Management Co. Ltd lifted its stake in WEX by 368.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 220 shares of the business services provider’s stock worth $35,000 after purchasing an additional 173 shares in the last quarter. First Horizon Corp boosted its holdings in shares of WEX by 65.7% during the 4th quarter. First Horizon Corp now owns 237 shares of the business services provider’s stock worth $35,000 after purchasing an additional 94 shares during the last quarter. Root Financial Partners LLC boosted its holdings in shares of WEX by 255.0% during the 1st quarter. Root Financial Partners LLC now owns 355 shares of the business services provider’s stock worth $54,000 after purchasing an additional 255 shares during the last quarter. Finally, IFP Advisors Inc grew its position in shares of WEX by 225.4% in the fourth quarter. IFP Advisors Inc now owns 371 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 257 shares in the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at WEX

In other WEX news, Director James R. Groch acquired 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average cost of $142.95 per share, with a total value of $214,425.00. Following the transaction, the director owned 17,957 shares of the company’s stock, valued at $2,566,953.15. This trade represents a 9.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Robert Joseph Deshaies sold 2,000 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were 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 in the company, valued at approximately $3,010,739.20. This trade represents a 8.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WEX shares. Weiss Ratings cut WEX from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Mizuho upped their target price on WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. Keefe, Bruyette & Woods raised their target price on WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday. Cantor Fitzgerald set a $178.00 price target on WEX in a report on Monday. Finally, Robert W. Baird boosted their price target on shares of WEX from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $183.30.

WEX Stock Up 1.4%

WEX stock opened at $178.56 on Tuesday. The firm has a market cap of $6.09 billion, a PE ratio of 17.79, a PEG ratio of 1.08 and a beta of 0.85. The company has a debt-to-equity ratio of 2.62, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50 day moving average price is $147.12 and its 200-day moving average price is $152.94. WEX Inc. has a one year low of $125.29 and a one year high of $186.85.

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, beating analysts’ consensus estimates of $5.08 by $0.27. The firm had revenue of $753.50 million for the quarter, compared to analysts’ expectations of $740.72 million. WEX had a return on equity of 43.19% and a net margin of 12.56%.The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm posted $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. On average, equities research analysts anticipate that WEX Inc. will post 16.88 EPS for the current year.

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

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.