Lakewood Capital Management LP Purchases New Stake in WEX Inc. $WEX

Lakewood Capital Management LP acquired a new stake in shares of WEX Inc. (NYSE:WEX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 200,968 shares of the business services provider’s stock, valued at approximately $28,355,000. WEX comprises about 1.5% of Lakewood Capital Management LP’s portfolio, making the stock its 27th biggest holding. Lakewood Capital Management LP owned approximately 0.59% of WEX at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WEX. Los Angeles Capital Management LLC bought a new stake in shares of WEX in the 4th quarter worth about $25,000. Global Retirement Partners LLC bought a new position in shares of WEX during the second quarter worth about $26,000. Caitong International Asset Management Co. Ltd grew its stake in WEX by 368.1% in the third 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. acquired a new position in WEX in the second quarter worth about $41,000. Finally, Root Financial Partners LLC increased its holdings in WEX by 255.0% in the first quarter. Root Financial Partners LLC now owns 355 shares of the business services provider’s stock valued at $54,000 after buying an additional 255 shares during the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Trading Up 1.8%

Shares of WEX stock opened at $203.43 on Tuesday. The company has a debt-to-equity ratio of 2.62, a quick ratio of 1.04 and a current ratio of 1.04. WEX Inc. has a 1 year low of $125.29 and a 1 year high of $203.99. The stock has a fifty day moving average of $165.69 and a two-hundred day moving average of $157.71. The firm has a market capitalization of $6.93 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.04 and a beta of 0.82.

WEX (NYSE:WEX) last released its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, beating the consensus estimate of $5.08 by $0.27. The firm had revenue of $753.50 million for the quarter, compared to analysts’ expectations of $740.72 million. WEX had a net margin of 12.56% and a return on equity of 43.19%. WEX’s quarterly revenue was up 14.2% on a year-over-year basis. 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, research analysts expect that WEX Inc. will post 17.11 EPS for the current year.

WEX announced that its Board of Directors has approved a stock buyback plan on Thursday, May 14th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to buy up to 21.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

WEX has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Loop Capital started coverage on WEX in a report on Monday, April 27th. They issued a “buy” rating and a $195.00 price target for the company. Cantor Fitzgerald set a $178.00 price target on WEX in a research report on Monday, July 27th. Weiss Ratings upgraded WEX from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Finally, Mizuho lifted their price objective on shares of WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $183.30.

Insider Buying and Selling

In other WEX news, COO Carlos Carriedo sold 1,075 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $186.00, for a total transaction of $199,950.00. Following the sale, the chief operating officer owned 11,076 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, COO Robert Joseph Deshaies sold 1,000 shares of the company’s stock in a transaction that occurred on 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 owned 19,288 shares of the company’s stock, valued at approximately $3,567,315.60. This trade represents a 4.93% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 9,858 shares of company stock valued at $1,662,835. 1.40% of the stock is currently owned by company insiders.

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.