26,285 Shares in WEX Inc. $WEX Purchased by Sone Capital Management LLC

Sone Capital Management LLC acquired a new stake in WEX Inc. (NYSE:WEX) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 26,285 shares of the business services provider’s stock, valued at approximately $3,709,000.

A number of other large investors also recently bought and sold shares of WEX. Goldman Sachs Group Inc. raised its stake in shares of WEX by 158.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider’s stock valued at $55,097,000 after acquiring an additional 215,036 shares during the period. Empowered Funds LLC purchased a new position in shares of WEX during the 1st quarter worth approximately $394,000. American Century Companies Inc. increased 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 valued at $471,000 after purchasing an additional 60 shares during the last quarter. EverSource Wealth Advisors LLC increased 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 valued at $58,000 after purchasing an additional 387 shares during the last quarter. Finally, Gamco Investors INC. ET AL purchased a new stake in WEX in the second quarter valued at approximately $271,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

Insider Activity

In other WEX news, CAO Jennifer Kimball sold 1,183 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $176.55, for a total transaction of $208,858.65. Following the completion of the transaction, the chief accounting officer owned 4,916 shares in the company, valued at $867,919.80. The trade was a 19.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ann Elena Drew sold 3,400 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $176.02, for a total transaction of $598,468.00. Following the completion of the sale, the insider directly owned 7,988 shares in the company, valued at approximately $1,406,047.76. This represents a 29.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,858 shares of company stock valued at $1,662,835 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

WEX Stock Up 1.8%

Shares of NYSE WEX opened at $203.43 on Tuesday. The stock has a market cap of $6.93 billion, a P/E ratio of 20.26, a PEG ratio of 1.04 and a beta of 0.82. The business’s fifty day simple moving average is $165.69 and its 200-day simple moving average is $157.71. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $5.08 by $0.27. The company had revenue of $753.50 million for the quarter, compared to analyst estimates of $740.72 million. WEX had a return on equity of 43.19% and a net margin of 12.56%.WEX’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the company earned $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. As a group, equities analysts predict that WEX Inc. will post 17.11 EPS for the current fiscal year.

WEX declared 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 buy up to 21.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

WEX has been the subject of several research analyst reports. Evercore upgraded WEX to an “outperform” rating in a research report on Tuesday, July 21st. Mizuho boosted their price objective on WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Weiss Ratings raised WEX from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. 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. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on WEX from $180.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, June 12th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, WEX has an average rating of “Hold” and an average price target of $183.30.

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.