Jupiter Topco LLC Buys Shares of 3,967,061 WEX Inc. $WEX

Jupiter Topco LLC purchased a new stake in shares of WEX Inc. (NYSE:WEX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,967,061 shares of the business services provider’s stock, valued at approximately $559,710,000. Jupiter Topco LLC owned 11.64% of WEX as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its holdings in WEX by 158.3% during the first quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider’s stock valued at $55,097,000 after buying an additional 215,036 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of WEX in the 1st quarter worth $394,000. American Century Companies Inc. raised its holdings 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 raised its holdings 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 during the period. Finally, Gamco Investors INC. ET AL purchased a new position in WEX during the second quarter valued at $271,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Down 1.7%

Shares of WEX opened at $199.74 on Wednesday. The business’s 50 day moving average is $167.06 and its 200 day moving average is $158.07. The company has a market capitalization of $6.81 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.06 and a beta of 0.82. WEX Inc. has a 12-month low of $125.29 and a 12-month high of $203.99. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.62.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share for the quarter, topping the consensus estimate of $5.08 by $0.27. The business had revenue of $753.50 million during the quarter, compared to the consensus estimate 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 period 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. Research analysts expect that WEX Inc. will post 17.11 earnings per share for the current fiscal year.

WEX announced that its board has initiated a share buyback program 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 buy up to 21.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at WEX

In related news, COO Robert Joseph Deshaies sold 2,000 shares of the firm’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 completion of the transaction, the chief operating officer directly owned 20,288 shares of the company’s stock, valued at approximately $3,010,739.20. This trade represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 the business’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 sale, the chief operating officer owned 11,076 shares in the company, valued at approximately $2,060,136. The trade was a 8.85% decrease in their position. 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 three months. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on WEX shares. Cantor Fitzgerald set a $178.00 price target on WEX in a research report on Monday, July 27th. Weiss Ratings upgraded WEX from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Wall Street Zen lowered shares of WEX from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Keefe, Bruyette & Woods raised their target price on shares of WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Mizuho upped 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. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $183.30.

About WEX

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.