Hawk Ridge Capital Management LP Has $25.02 Million Stake in WEX Inc. $WEX

Hawk Ridge Capital Management LP reduced its position in shares of WEX Inc. (NYSE:WEX) by 64.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 163,471 shares of the business services provider’s stock after selling 290,800 shares during the period. Hawk Ridge Capital Management LP’s holdings in WEX were worth $25,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in WEX by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider’s stock valued at $471,000 after buying an additional 60 shares in the last quarter. First Horizon Corp lifted its holdings in shares of WEX by 65.7% during the fourth quarter. First Horizon Corp now owns 237 shares of the business services provider’s stock worth $35,000 after buying an additional 94 shares in the last quarter. Eukles Asset Management lifted its holdings in shares of WEX by 2.8% during the fourth quarter. Eukles Asset Management now owns 3,429 shares of the business services provider’s stock worth $511,000 after buying an additional 95 shares in the last quarter. Nicolet Advisory Services LLC boosted its position in shares of WEX by 8.1% in the third quarter. Nicolet Advisory Services LLC now owns 1,362 shares of the business services provider’s stock valued at $214,000 after acquiring an additional 102 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in shares of WEX by 0.9% in the third quarter. Public Employees Retirement System of Ohio now owns 11,095 shares of the business services provider’s stock valued at $1,748,000 after acquiring an additional 104 shares during the period. 97.47% of the stock is currently owned by institutional investors.

WEX Trading Up 1.4%

Shares of WEX stock opened at $178.56 on Tuesday. 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 $186.85. The company 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 firm’s 50-day moving average price is $147.12 and its two-hundred day moving average price is $152.94.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, beating the consensus estimate of $5.08 by $0.27. WEX had a net margin of 12.56% and a return on equity of 43.19%. The company had revenue of $753.50 million during the quarter, compared to analysts’ expectations of $740.72 million. During the same period in the previous year, the company earned $3.95 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. 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, analysts forecast that WEX Inc. will post 16.88 earnings per share for the current fiscal year.

WEX declared that its Board of Directors has approved a stock buyback program on Thursday, May 14th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 21.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

WEX has been the topic of a number of recent research reports. Loop Capital began coverage on shares of WEX in a research report on Monday, April 27th. They set a “buy” rating and a $195.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of WEX from $180.00 to $160.00 and set a “hold” rating for the company in a report on Friday, June 12th. Mizuho increased their target price on shares of WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. Keefe, Bruyette & Woods raised their target price on shares of WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Morgan Stanley lifted their price target on shares of WEX from $161.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $183.30.

Insider Buying and Selling

In other news, Director James R. Groch acquired 1,500 shares of the stock in a transaction on Monday, May 18th. The stock was acquired at an average cost of $142.95 per share, for a total transaction of $214,425.00. Following the completion of the transaction, the director directly owned 17,957 shares in the company, valued at approximately $2,566,953.15. This trade represents a 9.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Robert Joseph Deshaies sold 2,000 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $148.40, for a total value of $296,800.00. Following 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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.