WEX (NYSE:WEX) Sets New 12-Month High – Time to Buy?

WEX Inc. (NYSE:WEX)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $187.21 and last traded at $188.4770, with a volume of 23712 shares trading hands. The stock had previously closed at $182.88.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WEX. Weiss Ratings downgraded shares of WEX from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods increased their price target on shares of WEX from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Loop Capital initiated coverage on shares of WEX in a report on Monday, April 27th. They issued a “buy” rating and a $195.00 price target on the stock. Cantor Fitzgerald set a $178.00 price objective on shares of WEX in a research report on Monday. Finally, Robert W. Baird boosted their price objective on shares of WEX from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.30.

WEX Trading Up 2.7%

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 firm has a market capitalization of $6.40 billion, a PE ratio of 18.71, a P/E/G ratio of 1.08 and a beta of 0.85. The stock’s 50-day simple moving average is $147.97 and its 200-day simple moving average is $153.15.

WEX (NYSE:WEX) last announced its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $740.72 million. During the same quarter in the previous year, the firm posted $3.95 EPS. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. 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, sell-side analysts expect that WEX Inc. will post 17.01 EPS for the current fiscal year.

WEX announced that its Board of Directors has approved a stock buyback program on Thursday, May 14th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 21.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at WEX

In other news, Director James R. Groch bought 1,500 shares of WEX stock in a transaction on Monday, May 18th. The shares were purchased at an average price of $142.95 per share, for a total transaction of $214,425.00. Following the acquisition, the director owned 17,957 shares of the company’s stock, valued at approximately $2,566,953.15. The trade was a 9.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Robert Joseph Deshaies sold 2,000 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $148.40, for a total value of $296,800.00. Following the completion of the transaction, the chief operating officer directly owned 20,288 shares of the company’s stock, valued at $3,010,739.20. This represents a 8.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On WEX

A number of institutional investors have recently added to or reduced their stakes in WEX. Los Angeles Capital Management LLC bought a new stake in shares of WEX during the 4th quarter valued at $25,000. First Horizon Corp grew its position in shares of WEX by 65.7% in the 4th quarter. First Horizon Corp now owns 237 shares of the business services provider’s stock worth $35,000 after buying an additional 94 shares during the period. Caitong International Asset Management Co. Ltd increased its stake 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 acquiring an additional 173 shares in the last quarter. Root Financial Partners LLC lifted its position in 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 acquiring an additional 255 shares during the period. Finally, IFP Advisors Inc lifted its position in WEX by 225.4% during the 4th quarter. IFP Advisors Inc now owns 371 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 257 shares during the period. Institutional investors own 97.47% of the company’s stock.

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.