Rice Hall James & Associates LLC Purchases Shares of 178,606 WEX Inc. $WEX

Rice Hall James & Associates LLC purchased a new stake in shares of WEX Inc. (NYSE:WEX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 178,606 shares of the business services provider’s stock, valued at approximately $25,200,000. WEX comprises approximately 1.2% of Rice Hall James & Associates LLC’s holdings, making the stock its 21st largest holding. Rice Hall James & Associates LLC owned 0.52% of WEX as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in WEX. American Century Companies Inc. increased its position in WEX by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider’s stock valued at $471,000 after acquiring an additional 60 shares during the period. First Horizon Corp boosted its position in WEX by 65.7% during the 4th quarter. First Horizon Corp now owns 237 shares of the business services provider’s stock worth $35,000 after acquiring an additional 94 shares during the period. Eukles Asset Management grew its stake in shares of WEX by 2.8% in the fourth quarter. Eukles Asset Management now owns 3,429 shares of the business services provider’s stock worth $511,000 after purchasing an additional 95 shares in the last quarter. Nicolet Advisory Services LLC grew its stake in shares of WEX by 8.1% in the third quarter. Nicolet Advisory Services LLC now owns 1,362 shares of the business services provider’s stock worth $214,000 after purchasing an additional 102 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of WEX by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 11,095 shares of the business services provider’s stock valued at $1,748,000 after purchasing an additional 104 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Stock Performance

NYSE:WEX opened at $188.83 on Tuesday. The company has a 50-day moving average of $159.70 and a 200-day moving average of $156.12. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 1.00 and a beta of 0.82. 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 Inc. has a twelve month low of $125.29 and a twelve month high of $199.69.

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 business had revenue of $753.50 million for the quarter, compared to the consensus estimate of $740.72 million. During the same period in the previous year, the firm earned $3.95 EPS. The business’s revenue for the quarter 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. Analysts forecast that WEX Inc. will post 17.11 earnings per share for the current fiscal year.

WEX declared that its board has authorized a share buyback plan on Thursday, May 14th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to buy up to 21.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other WEX news, insider Ann Elena Drew sold 3,400 shares of the company’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $176.02, for a total value of $598,468.00. Following the transaction, the insider owned 7,988 shares of the company’s stock, valued at approximately $1,406,047.76. This represents a 29.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer Kimball sold 1,183 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $176.55, for a total value of $208,858.65. Following the sale, the chief accounting officer owned 4,916 shares of the company’s stock, valued at $867,919.80. This trade represents a 19.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,858 shares of company stock worth $1,662,835 over the last three months. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Morgan Stanley boosted their price target on shares of WEX from $161.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of WEX from $180.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, June 12th. Mizuho increased their price objective on shares of WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Robert W. Baird raised their price objective on shares of WEX from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $183.30.

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.