Empowered Funds LLC Buys Shares of 36,137 WEX Inc. $WEX

Empowered Funds LLC bought a new stake in shares of WEX Inc. (NYSE:WEX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 36,137 shares of the business services provider’s stock, valued at approximately $5,099,000.

A number of other hedge funds have also recently made changes to their positions in WEX. Crossmark Global Holdings Inc. boosted its holdings in WEX by 47.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,207 shares of the business services provider’s stock worth $4,351,000 after acquiring an additional 9,410 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of WEX by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 638,957 shares of the business services provider’s stock worth $95,209,000 after acquiring an additional 6,971 shares during the last quarter. Clifford Capital Partners LLC bought a new position in shares of WEX during the fourth quarter valued at $14,202,000. CenterBook Partners LP increased its holdings in shares of WEX by 252.7% during the fourth quarter. CenterBook Partners LP now owns 70,834 shares of the business services provider’s stock valued at $10,553,000 after acquiring an additional 50,752 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of WEX by 143.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 20,019 shares of the business services provider’s stock worth $2,982,000 after purchasing an additional 11,800 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WEX. Mizuho increased their price objective on shares of WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Evercore raised shares of WEX to an “outperform” rating in a report on Tuesday, July 21st. Cantor Fitzgerald set a $178.00 target price on shares of WEX in a research note on Monday, July 27th. Morgan Stanley increased their price target on shares of WEX from $161.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of WEX from $180.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $183.30.

WEX Stock Down 3.3%

WEX stock opened at $190.82 on Tuesday. The stock has a market capitalization of $6.50 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.03 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. WEX Inc. has a 1-year low of $125.29 and a 1-year high of $203.99. The business has a fifty day moving average price of $172.49 and a 200-day moving average price of $159.11.

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, beating the consensus estimate of $5.08 by $0.27. WEX had a return on equity of 43.19% and a net margin of 12.56%.The company had revenue of $753.50 million for the quarter, compared to analysts’ expectations of $740.72 million. During the same period last year, the firm posted $3.95 earnings per share. WEX’s revenue was up 14.2% compared to the same quarter last year. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. Equities 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 authorized a stock repurchase program on Thursday, May 14th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to buy up to 21.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at WEX

In other news, COO Robert Joseph Deshaies sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $148.40, for a total transaction of $296,800.00. Following the sale, the chief operating officer owned 20,288 shares of the company’s stock, valued at $3,010,739.20. This trade represents a 8.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Carlos Carriedo sold 1,075 shares of WEX stock in a transaction that occurred 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 sale, the chief operating officer owned 11,076 shares of the company’s stock, valued at $2,060,136. This 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 8,658 shares of company stock worth $1,489,027 over the last quarter. 1.40% of the stock is currently owned by insiders.

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.