Bank of New York Mellon Corp Has $42.98 Million Position in WEX Inc. $WEX

Bank of New York Mellon Corp cut its position in shares of WEX Inc. (NYSE:WEX) by 1.1% during the 2nd quarter, Holdings Channel reports. The firm owned 292,628 shares of the business services provider’s stock after selling 3,319 shares during the quarter. Bank of New York Mellon Corp’s holdings in WEX were worth $42,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Earnest Partners LLC grew its holdings in WEX by 2.6% during the first quarter. Earnest Partners LLC now owns 895,406 shares of the business services provider’s stock worth $140,597,000 after purchasing an additional 22,672 shares during the period. Lyrical Asset Management LP lifted its position in shares of WEX by 0.3% in the first quarter. Lyrical Asset Management LP now owns 826,188 shares of the business services provider’s stock valued at $129,728,000 after buying an additional 2,754 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of WEX by 20,412.8% during the 1st quarter. Hsbc Holdings PLC now owns 638,563 shares of the business services provider’s stock worth $99,069,000 after acquiring an additional 635,450 shares during the period. Millennium Management LLC increased its holdings in shares of WEX by 652.7% during the 1st quarter. Millennium Management LLC now owns 412,665 shares of the business services provider’s stock worth $64,797,000 after acquiring an additional 357,842 shares during the last quarter. Finally, Ariel Investments LLC raised its stake in WEX by 29.5% in the 1st quarter. Ariel Investments LLC now owns 412,247 shares of the business services provider’s stock valued at $64,731,000 after acquiring an additional 93,975 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WEX has been the subject of a number of research analyst reports. Wall Street Zen raised shares of WEX from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Mizuho raised their target price on shares of WEX from $150.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of WEX in a report on Thursday, July 17th. They set a “hold” rating and a $150.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of WEX in a report on Wednesday, October 8th. Finally, William Blair restated a “market perform” rating on shares of WEX in a research report on Friday, July 25th. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, WEX presently has an average rating of “Hold” and an average price target of $172.92.

WEX Trading Down 2.4%

Shares of WEX stock opened at $144.29 on Thursday. The stock has a market cap of $4.95 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.34 and a beta of 1.24. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $191.43. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99. The stock has a 50 day simple moving average of $158.24 and a 200 day simple moving average of $153.27.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, October 29th. The business services provider reported $4.59 earnings per share for the quarter, beating the consensus estimate of $4.45 by $0.14. The firm had revenue of $691.70 million during the quarter, compared to analysts’ expectations of $678.25 million. WEX had a return on equity of 45.36% and a net margin of 10.81%.The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.35 EPS. WEX has set its Q4 2025 guidance at 3.760-3.960 EPS. FY 2025 guidance at 15.760-15.96 EPS. On average, research analysts predict that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

WEX Company Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.