Geode Capital Management LLC Sells 37,721 Shares of WEX Inc. $WEX

Geode Capital Management LLC trimmed its position in shares of WEX Inc. (NYSE:WEX) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 613,283 shares of the business services provider’s stock after selling 37,721 shares during the period. Geode Capital Management LLC’s holdings in WEX were worth $90,100,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of WEX. Jane Street Group LLC lifted its stake in WEX by 399.9% in the first quarter. Jane Street Group LLC now owns 210,707 shares of the business services provider’s stock worth $33,085,000 after purchasing an additional 168,558 shares during the last quarter. Lightrock Netherlands B.V. increased its holdings in shares of WEX by 205.0% in the second quarter. Lightrock Netherlands B.V. now owns 36,600 shares of the business services provider’s stock worth $5,376,000 after buying an additional 24,600 shares during the period. Optimize Financial Inc bought a new stake in shares of WEX in the 1st quarter valued at about $389,000. Lifestyle Asset Management Inc. boosted its holdings in WEX by 47.2% during the 2nd quarter. Lifestyle Asset Management Inc. now owns 7,739 shares of the business services provider’s stock valued at $1,137,000 after acquiring an additional 2,482 shares during the period. Finally, United Services Automobile Association bought a new position in WEX during the 1st quarter worth approximately $400,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Up 4.4%

Shares of WEX stock opened at $146.07 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.99. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $191.43. The company has a market cap of $5.01 billion, a P/E ratio of 19.00, a PEG ratio of 1.34 and a beta of 1.24. The company’s fifty day simple moving average is $153.64 and its two-hundred day simple moving average is $153.68.

WEX (NYSE:WEX) last announced its earnings results on Wednesday, October 29th. The business services provider reported $4.59 earnings per share for the quarter, beating analysts’ consensus estimates of $4.45 by $0.14. WEX had a net margin of 10.81% and a return on equity of 45.36%. The firm had revenue of $691.80 million for the quarter, compared to analyst estimates of $678.25 million. During the same quarter in the previous year, the firm posted $4.35 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. WEX has set its Q4 2025 guidance at 3.760-3.960 EPS. FY 2025 guidance at 15.760-15.96 EPS. Research analysts anticipate that WEX Inc. will post 14.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WEX. Mizuho boosted their price objective on WEX from $150.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Morgan Stanley lifted their target price on shares of WEX from $142.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Friday, July 25th. William Blair reissued a “market perform” rating on shares of WEX in a research report on Friday, July 25th. Zacks Research cut shares of WEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Wall Street Zen raised shares of WEX from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Four equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $172.92.

Insider Activity

In other news, Director Stephen Montgomery Smith bought 1,000 shares of the stock in a transaction dated Thursday, November 13th. The stock was bought at an average price of $144.25 per share, for a total transaction of $144,250.00. Following the purchase, the director directly owned 7,971 shares in the company, valued at $1,149,816.75. This trade represents a 14.35% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

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.