Jupiter Topco LLC Purchases New Shares in WEX Inc. $WEX

Jupiter Topco LLC acquired a new stake in shares of WEX Inc. (NYSE:WEX) in the 2nd quarter, Holdings Channel reports. The firm acquired 3,967,061 shares of the business services provider’s stock, valued at approximately $559,710,000. Jupiter Topco LLC owned 0.12% of WEX at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hsbc Holdings PLC bought a new stake in shares of WEX in the 2nd quarter worth about $5,038,000. Primecap Management Co. CA bought a new position in shares of WEX in the 2nd quarter valued at about $7,712,000. Palisade Capital Management LP purchased a new position in WEX in the second quarter worth about $1,780,000. Canada Pension Plan Investment Board purchased a new position in WEX in the second quarter worth about $1,496,000. Finally, Lakewood Capital Management LP bought a new stake in WEX during the second quarter worth approximately $28,355,000. 97.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at WEX

In other WEX news, insider Ann Elena Drew sold 3,400 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $176.02, for a total value of $598,468.00. Following the completion of the sale, the insider directly owned 7,988 shares of the company’s stock, valued at $1,406,047.76. The trade was a 29.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert Joseph Deshaies sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $184.95, for a total transaction of $184,950.00. Following the completion of the transaction, the chief operating officer owned 19,288 shares in the company, valued at $3,567,315.60. This represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,858 shares of company stock valued at $1,662,835 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on WEX from $180.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, June 12th. Weiss Ratings upgraded WEX from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. Keefe, Bruyette & Woods raised their price target on WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Evercore raised shares of WEX to an “outperform” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen cut shares of WEX from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $183.30.

WEX Stock Performance

Shares of WEX stock opened at $199.74 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.62. The stock’s fifty day moving average is $167.06 and its two-hundred day moving average is $158.07. WEX Inc. has a 52 week low of $125.29 and a 52 week high of $203.99. The company has a market capitalization of $6.81 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.06 and a beta of 0.82.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.08 by $0.27. The firm had revenue of $753.50 million during the quarter, compared to analyst estimates of $740.72 million. WEX had a net margin of 12.56% and a return on equity of 43.19%. The business’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm earned $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, analysts expect that WEX Inc. will post 17.11 earnings per share for the current year.

WEX announced that its Board of Directors has authorized a share buyback plan on Thursday, May 14th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 21.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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.