WEX (NYSE:WEX) Upgraded to Hold at Piper Sandler

WEX (NYSE:WEX) was upgraded by equities researchers at Piper Sandler to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks reports.

WEX has been the topic of several other reports. Weiss Ratings upgraded shares of WEX from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Evercore raised shares of WEX to an “outperform” rating in a report on Tuesday, July 21st. Morgan Stanley increased their price target on WEX from $161.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Mizuho raised their price target on WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on WEX from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, WEX currently has a consensus rating of “Hold” and a consensus target price of $185.64.

WEX Trading Up 0.6%

Shares of NYSE:WEX opened at $191.22 on Thursday. The stock has a 50 day moving average of $181.89 and a 200 day moving average of $161.22. The company has a market cap of $6.52 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 0.99 and a beta of 0.83. WEX 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 released its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 EPS for the quarter, topping 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 company 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 EPS. The firm’s revenue 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, equities research analysts expect that WEX will post 17.11 EPS for the current year.

Insider Activity at WEX

In other WEX news, COO Carlos Carriedo sold 1,075 shares of WEX stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $186.00, for a total value of $199,950.00. Following the sale, the chief operating officer directly owned 11,076 shares in the company, valued at approximately $2,060,136. The trade was a 8.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Robert Deshaies sold 2,000 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $148.40, for a total transaction of $296,800.00. Following the completion of the sale, the chief operating officer owned 20,288 shares in the company, valued at approximately $3,010,739.20. The trade was a 8.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 36,767 shares of company stock valued at $6,832,266 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On WEX

A number of hedge funds have recently made changes to their positions in WEX. Goldman Sachs Group Inc. grew its holdings in WEX by 158.3% during 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 buying an additional 215,036 shares in the last quarter. Empowered Funds LLC bought a new stake in WEX in the 1st quarter worth approximately $394,000. American Century Companies Inc. raised its holdings in shares of WEX by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider’s stock worth $471,000 after acquiring an additional 60 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of WEX by 4,837.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 395 shares of the business services provider’s stock worth $58,000 after acquiring an additional 387 shares in the last quarter. Finally, Gamco Investors INC. ET AL bought a new position in shares of WEX during the 2nd quarter valued at approximately $271,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

About WEX

WEX Inc (NYSE: WEX) is a global financial technology company that provides payment and expense-management solutions for businesses. Its offerings help organizations manage vehicle-related spending, corporate payments, travel expenses, and employee benefits through specialized payment products and digital platforms.

WEX’s mobility business provides fleet payment cards, fuel and maintenance expense management, telematics-related tools, and other services for commercial fleets, trucking companies, government agencies, and transportation businesses.