Corient Private Wealth LP Makes New Investment in WEX Inc. $WEX

Corient Private Wealth LP purchased a new position in shares of WEX Inc. (NYSE:WEX) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 26,895 shares of the business services provider’s stock, valued at approximately $3,795,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Crossmark Global Holdings Inc. boosted its holdings in 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 purchasing an additional 9,410 shares in the last quarter. Geode Capital Management LLC raised 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 valued at $95,209,000 after buying an additional 6,971 shares in the last quarter. CenterBook Partners LP raised its holdings in WEX by 252.7% during the fourth quarter. CenterBook Partners LP now owns 70,834 shares of the business services provider’s stock valued at $10,553,000 after buying an additional 50,752 shares in the last quarter. Clifford Capital Partners LLC acquired a new stake in shares of WEX in the fourth quarter worth about $14,202,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of WEX by 143.6% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 20,019 shares of the business services provider’s stock worth $2,982,000 after buying an additional 11,800 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on WEX from $180.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, June 12th. Mizuho boosted their target price on WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Keefe, Bruyette & Woods upped their target price on WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings upgraded WEX from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. Finally, Evercore raised shares of WEX to an “outperform” rating in a research report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $183.30.

WEX Stock Down 0.9%

WEX stock opened at $188.80 on Wednesday. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.04 and a quick ratio of 1.04. WEX Inc. has a 52-week low of $125.29 and a 52-week high of $203.99. The company has a 50-day moving average of $173.67 and a two-hundred day moving average of $159.28. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 0.99 and a beta of 0.83.

WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, topping analysts’ consensus estimates of $5.08 by $0.27. The business had revenue of $753.50 million for the quarter, compared to analyst estimates of $740.72 million. WEX had a return on equity of 43.19% and a net margin of 12.56%.The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the company 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. As a group, equities research analysts anticipate that WEX Inc. will post 17.11 EPS for the current year.

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

Insider Activity at WEX

In other news, CAO Jennifer Kimball sold 1,183 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $176.55, for a total value of $208,858.65. Following the sale, the chief accounting officer owned 4,916 shares in the company, valued at approximately $867,919.80. This trade represents a 19.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Robert Joseph Deshaies sold 1,000 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $184.95, for a total transaction of $184,950.00. Following the transaction, the chief operating officer owned 19,288 shares of the company’s stock, valued at approximately $3,567,315.60. The trade was a 4.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 8,658 shares of company stock worth $1,489,027. Insiders own 1.40% of the company’s stock.

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.