WEX Inc. $WEX Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its holdings in WEX Inc. (NYSE:WEX) by 56.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,107 shares of the business services provider’s stock after selling 19,691 shares during the quarter. Royal Bank of Canada’s holdings in WEX were worth $2,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in shares of WEX by 794.0% during the 4th quarter. AQR Capital Management LLC now owns 889,802 shares of the business services provider’s stock worth $132,563,000 after buying an additional 790,271 shares in the last quarter. Turtle Creek Asset Management Inc. purchased a new stake in shares of WEX in the third quarter valued at approximately $93,289,000. Par Capital Management Inc. boosted its stake in shares of WEX by 21.6% in the fourth quarter. Par Capital Management Inc. now owns 2,252,000 shares of the business services provider’s stock valued at $335,503,000 after buying an additional 400,500 shares in the last quarter. Norges Bank acquired a new position in WEX during the fourth quarter worth $50,202,000. Finally, New South Capital Management Inc. grew its holdings in WEX by 627.0% during the fourth quarter. New South Capital Management Inc. now owns 268,023 shares of the business services provider’s stock worth $39,930,000 after acquiring an additional 231,158 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Performance

NYSE WEX opened at $188.83 on Tuesday. The business has a 50 day moving average price of $159.70 and a 200 day moving average price of $156.12. The company has a market capitalization of $6.44 billion, a P/E ratio of 18.81, a PEG ratio of 1.00 and a beta of 0.82. WEX Inc. has a 1-year low of $125.29 and a 1-year high of $199.69. 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 (NYSE:WEX) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, topping analysts’ consensus estimates of $5.08 by $0.27. The company had revenue of $753.50 million for 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%.WEX’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.95 earnings per share. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. Sell-side analysts expect that WEX Inc. will post 17.11 EPS for the current fiscal year.

WEX announced that its board has approved a stock repurchase plan on Thursday, May 14th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to purchase up to 21.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at WEX

In related news, COO Carlos Carriedo sold 1,075 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $186.00, for a total value of $199,950.00. Following the sale, the chief operating officer directly owned 11,076 shares in the company, valued at $2,060,136. The trade was a 8.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert Joseph Deshaies sold 1,000 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $184.95, for a total transaction of $184,950.00. Following the completion of the sale, the chief operating officer directly owned 19,288 shares in the company, valued at approximately $3,567,315.60. The trade was a 4.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,858 shares of company stock valued at $1,662,835 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WEX shares. Morgan Stanley raised their target price on WEX from $161.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. 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 note on Friday, July 24th. Robert W. Baird increased their price target on shares of WEX from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Keefe, Bruyette & Woods raised their price objective on shares of WEX from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, Evercore raised shares of WEX to an “outperform” rating in a report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, WEX presently has a consensus rating of “Hold” and a consensus target price 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.