Lazard Asset Management LLC Has $2.92 Million Stock Holdings in WEX Inc. $WEX

Lazard Asset Management LLC boosted its position in WEX Inc. (NYSE:WEX) by 45.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,057 shares of the business services provider’s stock after acquiring an additional 5,959 shares during the period. Lazard Asset Management LLC owned 0.05% of WEX worth $2,916,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Par Capital Management Inc. lifted its position in WEX by 21.6% during the 4th quarter. Par Capital Management Inc. now owns 2,252,000 shares of the business services provider’s stock valued at $335,503,000 after purchasing an additional 400,500 shares during the period. Boston Partners grew its position in shares of WEX by 13.7% during the 4th quarter. Boston Partners now owns 1,447,442 shares of the business services provider’s stock worth $215,955,000 after buying an additional 174,079 shares during the period. AQR Capital Management LLC raised its stake in shares of WEX by 794.0% during the fourth quarter. AQR Capital Management LLC now owns 889,802 shares of the business services provider’s stock worth $132,563,000 after buying an additional 790,271 shares during the last quarter. Bank of America Corp DE lifted 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 valued at $138,474,000 after buying an additional 69,375 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in WEX by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 687,655 shares of the business services provider’s stock valued at $102,454,000 after acquiring an additional 44,842 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Morgan Stanley increased their price target on WEX from $161.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Wall Street Zen lowered WEX from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Keefe, Bruyette & Woods raised their target price on WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Loop Capital started coverage on WEX in a research report on Monday, April 27th. They set a “buy” rating and a $195.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on WEX from $180.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, June 12th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $183.30.

WEX Price Performance

Shares of WEX stock opened at $187.04 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.62. WEX Inc. has a 12-month low of $125.29 and a 12-month high of $191.38. The firm has a fifty day moving average of $150.32 and a 200-day moving average of $153.76. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 1.04 and a beta of 0.85.

WEX (NYSE:WEX) last issued its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, topping the consensus estimate of $5.08 by $0.27. The business had revenue of $753.50 million for the quarter, compared to the consensus estimate of $740.72 million. WEX had a return on equity of 43.19% and a net margin of 12.56%.The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.95 EPS. 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 forecast that WEX Inc. will post 17.12 earnings per share for the current year.

WEX declared that its Board of Directors has authorized a share buyback 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 purchase up to 21.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other WEX news, CAO Jennifer Kimball sold 1,183 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $176.55, for a total transaction of $208,858.65. Following the sale, the chief accounting officer directly owned 4,916 shares in the company, valued at approximately $867,919.80. This trade represents a 19.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James R. Groch purchased 1,500 shares of the business’s stock in a transaction on Monday, May 18th. The stock was bought at an average cost of $142.95 per share, for a total transaction of $214,425.00. Following the purchase, the director owned 17,957 shares of the company’s stock, valued at approximately $2,566,953.15. This represents a 9.11% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 8,783 shares of company stock worth $1,462,885. 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.