36,689 Shares in WEX Inc. $WEX Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in shares of WEX Inc. (NYSE:WEX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 36,689 shares of the business services provider’s stock, valued at approximately $5,038,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WEX. Los Angeles Capital Management LLC bought a new position in WEX in the fourth quarter valued at $25,000. Global Retirement Partners LLC bought a new stake in WEX during the second quarter worth about $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of WEX by 368.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 220 shares of the business services provider’s stock worth $35,000 after purchasing an additional 173 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of WEX in the 2nd quarter worth about $41,000. Finally, Root Financial Partners LLC increased its position in shares of WEX by 255.0% during the 1st quarter. Root Financial Partners LLC now owns 355 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 255 shares during the last quarter. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other WEX news, insider Ann Elena Drew sold 3,400 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $176.02, for a total value of $598,468.00. Following the sale, the insider owned 7,988 shares of the company’s stock, valued at $1,406,047.76. This trade represents a 29.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert Joseph Deshaies sold 1,000 shares of the business’s 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 transaction, the chief operating officer owned 19,288 shares in the company, valued at $3,567,315.60. The trade was a 4.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 8,658 shares of company stock worth $1,489,027. 1.40% of the stock is currently owned by corporate insiders.

WEX Stock Performance

NYSE:WEX opened at $196.59 on Friday. The firm has a market cap of $6.70 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 1.03 and a beta of 0.82. WEX Inc. has a fifty-two week low of $125.29 and a fifty-two week high of $203.99. The company has a debt-to-equity ratio of 2.62, a quick ratio of 1.04 and a current ratio of 1.04. The business has a 50 day moving average price of $171.28 and a 200-day moving average price of $158.96.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.08 by $0.27. WEX had a net margin of 12.56% and a return on equity of 43.19%. The firm had revenue of $753.50 million for the quarter, compared to analysts’ expectations of $740.72 million. During the same quarter last year, the business earned $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. Equities research analysts predict that WEX Inc. will post 17.11 earnings per share for the current year.

WEX announced that its board has authorized a stock repurchase program on Thursday, May 14th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to reacquire up to 21.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Cantor Fitzgerald set a $178.00 target price on WEX in a research report on Monday, July 27th. Morgan Stanley increased their price target on shares of WEX from $161.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of WEX from $180.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, June 12th. Mizuho upped their price objective on shares of WEX from $170.00 to $200.00 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 given a Hold rating to the company. According to MarketBeat.com, WEX currently has an average rating of “Hold” and an average 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.