Palisade Capital Management LP Invests $1.78 Million in WEX Inc. $WEX

Palisade Capital Management LP bought a new stake in WEX Inc. (NYSE:WEX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,616 shares of the business services provider’s stock, valued at approximately $1,780,000.

Several other hedge funds have also added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new position in shares of WEX in the fourth quarter valued at $25,000. Global Retirement Partners LLC bought a new stake in shares of WEX during the 2nd quarter worth about $26,000. Caitong International Asset Management Co. Ltd grew its stake in WEX by 368.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 220 shares of the business services provider’s stock valued at $35,000 after buying an additional 173 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in WEX in the 2nd quarter valued at about $41,000. Finally, Root Financial Partners LLC raised its holdings in WEX by 255.0% in the 1st quarter. Root Financial Partners LLC now owns 355 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 255 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Performance

WEX opened at $198.07 on Thursday. The company has a debt-to-equity ratio of 2.62, a quick ratio of 1.04 and a current ratio of 1.04. WEX Inc. has a 52-week low of $125.29 and a 52-week high of $203.99. The firm has a market cap of $6.75 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 1.04 and a beta of 0.82. The business’s fifty day moving average is $168.48 and its 200-day moving average is $158.42.

WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share for the quarter, topping the consensus estimate of $5.08 by $0.27. The business had revenue of $753.50 million during the quarter, compared to analysts’ expectations of $740.72 million. WEX had a net margin of 12.56% and a return on equity of 43.19%. WEX’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business 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. Sell-side analysts expect that WEX Inc. will post 17.11 EPS for the current fiscal year.

WEX announced that its Board of Directors has authorized a stock repurchase 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 purchase up to 21.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other WEX news, COO Carlos Carriedo sold 1,075 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $186.00, for a total transaction of $199,950.00. Following the completion of the transaction, the chief operating officer directly owned 11,076 shares in the company, valued at $2,060,136. The trade was a 8.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer Kimball sold 1,183 shares of the company’s stock in a transaction on Monday, July 27th. The stock was 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 of the company’s stock, valued at $867,919.80. The trade was a 19.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 8,658 shares of company stock worth $1,489,027. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WEX shares. Weiss Ratings upgraded WEX from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. Wall Street Zen lowered WEX from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Morgan Stanley lifted their price target on WEX from $161.00 to $172.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reduced their price target on WEX from $180.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, June 12th. Finally, Mizuho increased their price objective on WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $183.30.

WEX Company 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.