CenterBook Partners LP Has $10.55 Million Stock Position in WEX Inc. $WEX

CenterBook Partners LP lifted its holdings in shares of WEX Inc. (NYSE:WEX) by 252.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,834 shares of the business services provider’s stock after purchasing an additional 50,752 shares during the period. CenterBook Partners LP’s holdings in WEX were worth $10,553,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of WEX. Goldman Sachs Group Inc. lifted its holdings in shares of WEX by 158.3% during the first quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider’s stock worth $55,097,000 after purchasing an additional 215,036 shares during the period. Empowered Funds LLC acquired a new position in shares of WEX during the first quarter worth $394,000. American Century Companies Inc. lifted its holdings in shares of WEX by 1.9% during the second quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider’s stock worth $471,000 after purchasing an additional 60 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of WEX by 4,837.5% during the second quarter. EverSource Wealth Advisors LLC now owns 395 shares of the business services provider’s stock worth $58,000 after purchasing an additional 387 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new position in shares of WEX during the second quarter worth $271,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Price Performance

WEX stock opened at $147.96 on Monday. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.92 and a beta of 0.85. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.83. WEX Inc. has a 12-month low of $132.35 and a 12-month high of $186.85. The company’s fifty day simple moving average is $152.54 and its 200 day simple moving average is $153.55.

WEX (NYSE:WEX) last released its earnings results on Wednesday, April 22nd. The business services provider reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.23. The business had revenue of $673.80 million for the quarter, compared to analyst estimates of $660.96 million. WEX had a net margin of 11.50% and a return on equity of 42.66%. WEX’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.51 earnings per share. WEX has set its FY 2026 guidance at 18.950-19.550 EPS and its Q2 2026 guidance at 4.930-5.130 EPS. On average, analysts expect that WEX Inc. will post 16.49 earnings per share 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 repurchase up to 21.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently commented on WEX. Wall Street Zen lowered shares of WEX from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Cantor Fitzgerald lifted their price target on shares of WEX from $158.00 to $166.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Morgan Stanley lifted their price target on shares of WEX from $146.00 to $158.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st. Robert W. Baird lifted their price target on shares of WEX from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of WEX in a report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, WEX presently has an average rating of “Hold” and a consensus price target of $172.70.

Insider Activity

In other news, Director James R. Groch bought 1,500 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average price of $142.95 per share, for a total transaction of $214,425.00. Following the completion of the acquisition, the director directly owned 17,957 shares in the company, valued at approximately $2,566,953.15. This represents a 9.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Joel Alan Dearborn, Jr. sold 3,500 shares of the business’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $175.00, for a total transaction of $612,500.00. Following the completion of the transaction, the chief operating officer owned 22,872 shares in the company, valued at approximately $4,002,600. The trade was a 13.27% 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 have sold 9,019 shares of company stock worth $1,446,996 in the last three months. Corporate insiders own 1.40% of the company’s stock.

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.