William Blair Investment Management LLC Takes Position in WEX Inc. $WEX

William Blair Investment Management LLC purchased a new position in shares of WEX Inc. (NYSE:WEX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,943 shares of the business services provider’s stock, valued at approximately $415,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its holdings in shares of WEX by 158.3% during the first quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider’s stock worth $55,097,000 after purchasing an additional 215,036 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of WEX in the 1st quarter valued at about $394,000. American Century Companies Inc. boosted its position in shares of 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 purchasing an additional 60 shares during the period. EverSource Wealth Advisors LLC grew its stake in WEX by 4,837.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 395 shares of the business services provider’s stock worth $58,000 after buying an additional 387 shares during the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in WEX during the second quarter worth approximately $271,000. 97.47% of the stock is owned by hedge funds and other institutional investors.

WEX Price Performance

Shares of NYSE:WEX opened at $200.16 on Monday. 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 company has a market cap of $6.82 billion, a P/E ratio of 19.94, a PEG ratio of 1.04 and a beta of 0.82. WEX Inc. has a 52 week low of $125.29 and a 52 week high of $200.55. The company has a 50-day moving average price of $164.25 and a 200 day moving average price of $157.30.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share for the quarter, beating analysts’ consensus estimates of $5.08 by $0.27. The company 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.95 EPS. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. Research analysts predict that WEX Inc. will post 17.11 earnings per share for the current year.

WEX announced that its Board of Directors has approved a stock buyback plan on Thursday, May 14th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to reacquire up to 21.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, COO Robert Joseph Deshaies sold 1,000 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was 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 $3,567,315.60. This represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ann Elena Drew sold 3,400 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $176.02, for a total value of $598,468.00. Following the completion of the transaction, the insider 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 SEC filing for this sale provides additional information. Insiders have sold 9,858 shares of company stock valued at $1,662,835 in the last three months. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WEX shares. Mizuho increased their price objective on WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Loop Capital assumed coverage on shares of WEX in a report on Monday, April 27th. They issued a “buy” rating and a $195.00 target price on the stock. Keefe, Bruyette & Woods upped their price target on shares of WEX from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Evercore upgraded shares of WEX to an “outperform” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen downgraded shares of WEX from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, WEX currently has a consensus rating of “Hold” and a consensus price target of $183.30.

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.