Primecap Management Co. CA Buys New Position in WEX Inc. $WEX

Primecap Management Co. CA bought a new stake in WEX Inc. (NYSE:WEX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 54,660 shares of the business services provider’s stock, valued at approximately $7,712,000.

A number of other large investors also recently modified their holdings of the business. Los Angeles Capital Management LLC bought a new stake in shares of WEX in the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC bought a new position in WEX during the second quarter worth $26,000. Caitong International Asset Management Co. Ltd increased its position in WEX by 368.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 220 shares of the business services provider’s stock worth $35,000 after acquiring an additional 173 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in WEX during the 2nd quarter valued at $41,000. Finally, Root Financial Partners LLC raised its stake in WEX by 255.0% during the 1st quarter. Root Financial Partners LLC now owns 355 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 255 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at WEX

In other WEX news, CAO Jennifer Kimball sold 1,183 shares of WEX stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $176.55, for a total transaction of $208,858.65. Following the sale, the chief accounting officer directly owned 4,916 shares of the company’s stock, valued at approximately $867,919.80. The trade was a 19.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ann Elena Drew sold 3,400 shares of the company’s stock in a transaction that occurred on 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 owned 7,988 shares in the company, valued at approximately $1,406,047.76. This represents a 29.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 8,658 shares of company stock worth $1,489,027. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on WEX. Mizuho raised their price target on shares of WEX from $170.00 to $200.00 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 report on Tuesday, July 21st. Keefe, Bruyette & Woods lifted their target price on WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings upgraded WEX from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Finally, Cantor Fitzgerald set a $178.00 price target on WEX in a report on Monday, July 27th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, WEX currently has a consensus rating of “Hold” and an average price target of $183.30.

WEX Stock Down 0.8%

WEX opened at $198.07 on Thursday. The company has a market capitalization of $6.75 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.04 and a beta of 0.82. 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 firm’s fifty day moving average price is $168.48 and its two-hundred day moving average price is $158.42. WEX Inc. has a fifty-two week low of $125.29 and a fifty-two week high of $203.99.

WEX (NYSE:WEX) last announced its quarterly earnings data 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 company 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%. The business’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $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. On average, analysts anticipate that WEX Inc. will post 17.11 EPS for the current year.

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

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.