WEX Inc. $WEX Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in shares of WEX Inc. (NYSE:WEX) by 23.2% in the 2nd quarter, Holdings Channel reports. The firm owned 11,236 shares of the business services provider’s stock after purchasing an additional 2,113 shares during the period. PNC Financial Services Group Inc.’s holdings in WEX were worth $1,650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Boston Partners acquired a new position in WEX during the second quarter worth about $186,980,000. Hsbc Holdings PLC boosted its holdings in shares of WEX by 20,412.8% during the 1st quarter. Hsbc Holdings PLC now owns 638,563 shares of the business services provider’s stock worth $99,069,000 after purchasing an additional 635,450 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of WEX by 652.7% during the 1st quarter. Millennium Management LLC now owns 412,665 shares of the business services provider’s stock worth $64,797,000 after purchasing an additional 357,842 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of WEX by 158.3% in the first quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider’s stock valued at $55,097,000 after purchasing an additional 215,036 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of WEX by 79.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 381,767 shares of the business services provider’s stock valued at $59,945,000 after purchasing an additional 169,137 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Trading Up 1.8%

NYSE WEX opened at $139.04 on Thursday. The company has a debt-to-equity ratio of 3.99, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.34 and a beta of 1.24. The firm has a 50 day simple moving average of $154.84 and a 200-day simple moving average of $153.62. WEX Inc. has a one year low of $110.45 and a one year high of $191.43.

WEX (NYSE:WEX) last released its earnings results on Wednesday, October 29th. The business services provider reported $4.59 EPS for the quarter, topping the consensus estimate of $4.45 by $0.14. The firm had revenue of $691.80 million during the quarter, compared to analysts’ expectations of $678.25 million. WEX had a return on equity of 45.36% and a net margin of 10.81%.WEX’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $4.35 EPS. WEX has set its Q4 2025 guidance at 3.760-3.960 EPS. FY 2025 guidance at 15.760-15.96 EPS. Equities research analysts anticipate that WEX Inc. will post 14.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephen Montgomery Smith purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average cost of $144.25 per share, for a total transaction of $144,250.00. Following the purchase, the director directly owned 7,971 shares of the company’s stock, valued at $1,149,816.75. The trade was a 14.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on WEX shares. William Blair restated a “market perform” rating on shares of WEX in a report on Friday, July 25th. Wall Street Zen raised shares of WEX from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research cut shares of WEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Mizuho boosted their target price on shares of WEX from $150.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Finally, Barclays increased their price target on shares of WEX from $135.00 to $170.00 and gave the company an “equal weight” rating in a research note on Monday, July 28th. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $172.92.

WEX Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.