Janney Montgomery Scott LLC Makes New $620,000 Investment in WEX Inc. $WEX

Janney Montgomery Scott LLC purchased a new stake in WEX Inc. (NYSE:WEX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,051 shares of the business services provider’s stock, valued at approximately $620,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised 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 acquiring an additional 215,036 shares during the period. Empowered Funds LLC acquired a new position in WEX in the 1st quarter worth $394,000. American Century Companies Inc. boosted its stake in WEX by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider’s stock worth $471,000 after purchasing an additional 60 shares during the period. EverSource Wealth Advisors LLC increased its holdings 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 purchasing an additional 387 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of WEX in the 2nd quarter valued at about $271,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Down 3.2%

WEX stock opened at $155.02 on Wednesday. The firm has a market capitalization of $5.37 billion, a PE ratio of 17.40, a P/E/G ratio of 0.98 and a beta of 0.85. The company’s 50-day moving average is $142.41 and its 200-day moving average is $151.99. WEX Inc. has a fifty-two week low of $125.29 and a fifty-two week high of $186.85. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.05 and a quick ratio of 1.05.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, April 22nd. The business services provider reported $4.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.23. WEX had a net margin of 11.50% and a return on equity of 42.66%. The company had revenue of $673.80 million for the quarter, compared to analysts’ expectations of $660.96 million. During the same period in the prior year, the firm earned $3.51 EPS. WEX’s quarterly revenue was up 5.8% compared to the same quarter last year. WEX has set its FY 2026 guidance at 18.950-19.550 EPS and its Q2 2026 guidance at 4.930-5.130 EPS. Sell-side analysts anticipate that WEX Inc. will post 16.77 earnings per share for the current year.

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

Insiders Place Their Bets

In other WEX news, Director James R. Groch acquired 1,500 shares of the company’s stock in a transaction on Monday, May 18th. The shares were purchased at an average price of $142.95 per share, for a total transaction of $214,425.00. Following the completion of the purchase, the director directly owned 17,957 shares of the company’s stock, valued at approximately $2,566,953.15. This represents a 9.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert Joseph Deshaies sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $148.40, for a total value of $296,800.00. Following the completion of the sale, the chief operating officer directly owned 20,288 shares of the company’s stock, valued at approximately $3,010,739.20. The trade was a 8.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,700 shares of company stock valued at $1,083,108 over the last 90 days. 1.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WEX. Loop Capital initiated coverage on WEX in a report on Monday, April 27th. They issued a “buy” rating and a $195.00 price target on the stock. Morgan Stanley increased their price objective on WEX from $146.00 to $158.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st. Weiss Ratings raised WEX from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 9th. Cantor Fitzgerald decreased their price target on shares of WEX from $173.00 to $152.00 and set a “neutral” rating for the company in a research note on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of WEX from $180.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, June 12th. Four equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $172.30.

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.