State of Wyoming Reduces Stock Holdings in WEX Inc. $WEX

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

Several other institutional investors have also recently made changes to their positions in WEX. CWM LLC raised its stake in shares of WEX by 377.9% during the 4th quarter. CWM LLC now owns 17,395 shares of the business services provider’s stock valued at $2,592,000 after buying an additional 13,755 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of WEX in the fourth quarter worth about $28,129,000. Crossmark Global Holdings Inc. boosted its stake in shares of WEX by 47.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,207 shares of the business services provider’s stock worth $4,351,000 after buying an additional 9,410 shares during the last quarter. Geode Capital Management LLC grew its holdings in WEX by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 638,957 shares of the business services provider’s stock worth $95,209,000 after acquiring an additional 6,971 shares during the period. Finally, SG Americas Securities LLC grew its holdings in WEX by 2,115.6% during the fourth quarter. SG Americas Securities LLC now owns 14,667 shares of the business services provider’s stock worth $2,185,000 after acquiring an additional 14,005 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Performance

NYSE WEX opened at $178.56 on Tuesday. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.08 and a beta of 0.85. The stock has a 50-day moving average of $147.12 and a 200 day moving average of $152.94. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.62. WEX Inc. has a twelve month low of $125.29 and a twelve month high of $186.85.

WEX (NYSE:WEX) last posted 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 business had revenue of $753.50 million during 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 business’s 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. Sell-side analysts anticipate that WEX Inc. will post 16.88 EPS for the current fiscal year.

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

Analysts Set New Price Targets

WEX has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on WEX from $161.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Keefe, Bruyette & Woods raised their price objective on shares of WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday. Loop Capital initiated coverage on shares of WEX in a report on Monday, April 27th. They set a “buy” rating and a $195.00 target price for the company. Robert W. Baird boosted their target price 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, Cantor Fitzgerald set a $178.00 price target on shares of WEX in a report on Monday. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, WEX has a consensus rating of “Hold” and an average price target of $183.30.

Insider Activity

In other news, 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 of the company’s stock, valued at $3,010,739.20. The trade was a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James R. Groch purchased 1,500 shares of WEX stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average price of $142.95 per share, with a total value of $214,425.00. Following the transaction, the director owned 17,957 shares in the company, valued at approximately $2,566,953.15. The trade was a 9.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.40% of the stock is owned by company insiders.

About WEX

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.