JPMorgan Chase & Co. Cuts Position in WEX Inc. $WEX

JPMorgan Chase & Co. lowered its stake in shares of WEX Inc. (NYSE:WEX) by 65.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,467 shares of the business services provider’s stock after selling 705,328 shares during the quarter. JPMorgan Chase & Co.’s holdings in WEX were worth $59,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in shares of WEX by 6.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 11,905 shares of the business services provider’s stock valued at $1,875,000 after buying an additional 669 shares in the last quarter. New South Capital Management Inc. grew its stake in WEX by 1.6% during the 3rd quarter. New South Capital Management Inc. now owns 36,865 shares of the business services provider’s stock worth $5,807,000 after buying an additional 579 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in WEX by 82.0% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 12,853 shares of the business services provider’s stock valued at $2,025,000 after buying an additional 5,791 shares in the last quarter. Caprock Group LLC purchased a new stake in WEX in the third quarter valued at about $493,000. Finally, Johnson Investment Counsel Inc. boosted its holdings in WEX by 0.7% in the third quarter. Johnson Investment Counsel Inc. now owns 9,615 shares of the business services provider’s stock worth $1,515,000 after acquiring an additional 70 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Sara Trickett sold 1,815 shares of WEX stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $149.95, for a total transaction of $272,159.25. Following the transaction, the insider owned 2,137 shares in the company, valued at $320,443.15. The trade was a 45.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Carlos Carriedo sold 1,575 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $159.90, for a total transaction of $251,842.50. Following the completion of the sale, the chief operating officer directly owned 3,695 shares of the company’s stock, valued at $590,830.50. This represents a 29.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,154 shares of company stock valued at $1,256,518 over the last 90 days. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WEX shares. JPMorgan Chase & Co. cut their price objective on shares of WEX from $175.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Wall Street Zen lowered shares of WEX from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings reissued a “hold (c)” rating on shares of WEX in a report on Wednesday, January 21st. Mizuho cut their target price on WEX from $180.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Finally, Morgan Stanley set a $146.00 price target on WEX in a research report on Friday, February 6th. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, WEX currently has a consensus rating of “Hold” and a consensus price target of $162.27.

WEX Price Performance

Shares of NYSE WEX opened at $150.10 on Thursday. The stock has a market cap of $5.15 billion, a PE ratio of 17.66, a P/E/G ratio of 1.16 and a beta of 0.98. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 2.86. WEX Inc. has a 12-month low of $110.45 and a 12-month high of $180.71. The company has a 50-day moving average of $155.13 and a 200 day moving average of $156.90.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, February 4th. The business services provider reported $4.11 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.21. WEX had a return on equity of 48.01% and a net margin of 11.43%.The business had revenue of $672.90 million for the quarter, compared to analysts’ expectations of $660.89 million. During the same period in the previous year, the firm posted $3.57 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. WEX has set its FY 2026 guidance at 17.250-17.850 EPS and its Q1 2026 guidance at 3.80-4.000 EPS. As a group, sell-side analysts predict that WEX Inc. will post 14.09 EPS for the current fiscal year.

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.