Martin & Co. Inc. TN Takes Position in WEX Inc. $WEX

Martin & Co. Inc. TN acquired a new position in shares of WEX Inc. (NYSE:WEX) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 17,690 shares of the business services provider’s stock, valued at approximately $2,496,000.

Other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. raised its position 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 period. Empowered Funds LLC acquired a new position in shares of WEX in the 1st quarter valued at $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 increased its stake in WEX by 4,837.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 395 shares of the business services provider’s stock worth $58,000 after purchasing an additional 387 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in WEX in the 2nd quarter worth about $271,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Trading Up 1.2%

NYSE:WEX opened at $200.16 on Friday. The stock has a market cap of $6.82 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.04 and a beta of 0.82. WEX Inc. has a fifty-two week low of $125.29 and a fifty-two week high of $200.55. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50-day moving average is $164.25 and its two-hundred day moving average is $157.27.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.08 by $0.27. The business 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 firm’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior 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, equities research analysts forecast that WEX Inc. will post 17.11 earnings per share for the current fiscal year.

WEX declared that its Board of Directors has approved a share repurchase plan on Thursday, May 14th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits 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 board of directors believes its stock is undervalued.

Insider Activity at WEX

In other news, COO Robert Joseph Deshaies sold 2,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $148.40, for a total transaction of $296,800.00. Following the transaction, the chief operating officer directly owned 20,288 shares in the company, valued at $3,010,739.20. The trade was a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Carlos Carriedo sold 1,075 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was 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. This trade represents a 8.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,858 shares of company stock worth $1,662,835 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on WEX. Mizuho upped their price objective on shares of WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods lifted their target price on shares of WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Evercore upgraded shares of WEX to an “outperform” rating in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of WEX from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Finally, Cantor Fitzgerald set a $178.00 price objective on shares of WEX in a research note on Monday, July 27th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, WEX has an average rating of “Hold” and an average target price 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.