Hawk Ridge Capital Management LP Sells 290,800 Shares of WEX Inc. $WEX

Hawk Ridge Capital Management LP lessened its position in WEX Inc. (NYSE:WEX) by 64.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 163,471 shares of the business services provider’s stock after selling 290,800 shares during the quarter. Hawk Ridge Capital Management LP owned approximately 0.47% of WEX worth $25,018,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of WEX. American Century Companies Inc. grew its stake in shares of WEX by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider’s stock worth $471,000 after acquiring an additional 60 shares in the last quarter. First Horizon Corp raised its holdings in shares of WEX by 65.7% in the fourth quarter. First Horizon Corp now owns 237 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 94 shares during the last quarter. Eukles Asset Management lifted its position in shares of WEX by 2.8% in the fourth quarter. Eukles Asset Management now owns 3,429 shares of the business services provider’s stock worth $511,000 after purchasing an additional 95 shares in the last quarter. Nicolet Advisory Services LLC lifted its position in shares of WEX by 8.1% in the third quarter. Nicolet Advisory Services LLC now owns 1,362 shares of the business services provider’s stock worth $214,000 after purchasing an additional 102 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in WEX by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 11,095 shares of the business services provider’s stock worth $1,748,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

Insider Buying and Selling at WEX

In related news, Director James R. Groch acquired 1,500 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $142.95 per share, for a total transaction of $214,425.00. Following the completion of the acquisition, the director directly owned 17,957 shares in the company, valued at approximately $2,566,953.15. This trade represents a 9.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Robert Joseph Deshaies sold 2,000 shares of the 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 completion of the transaction, the chief operating officer directly owned 20,288 shares in the company, valued at $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. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WEX shares. Wall Street Zen downgraded shares of WEX from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Morgan Stanley increased their price objective on shares of WEX from $161.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Robert W. Baird raised their price objective on WEX from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Keefe, Bruyette & Woods lifted their target price on WEX from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Loop Capital began coverage on WEX in a report on Monday, April 27th. They set a “buy” rating and a $195.00 target price on the stock. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $183.30.

WEX Price Performance

NYSE:WEX opened at $178.56 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.62. The stock’s 50 day moving average price is $147.12 and its two-hundred day moving average price is $152.94. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 1.08 and a beta of 0.85. WEX Inc. has a 12-month low of $125.29 and a 12-month high of $186.85.

WEX (NYSE:WEX) last released 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. WEX had a return on equity of 43.19% and a net margin of 12.56%.The company had revenue of $753.50 million during the quarter, compared to analysts’ expectations of $740.72 million. During the same period last year, the firm posted $3.95 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. 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 16.88 earnings per share for the current year.

WEX declared that its Board of Directors has approved a share buyback 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 reacquire up to 21.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.