Neuberger Berman Group LLC Cuts Position in WEX Inc. $WEX

Neuberger Berman Group LLC cut its holdings in WEX Inc. (NYSE:WEX) by 13.7% in the second quarter, HoldingsChannel reports. The firm owned 239,137 shares of the business services provider’s stock after selling 37,841 shares during the quarter. Neuberger Berman Group LLC’s holdings in WEX were worth $35,127,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WEX. Boston Partners bought a new stake in shares of WEX in the 2nd quarter worth about $187,102,000. JPMorgan Chase & Co. grew its position in WEX by 1.7% in the second quarter. JPMorgan Chase & Co. now owns 1,085,795 shares of the business services provider’s stock worth $159,494,000 after acquiring an additional 17,691 shares in the last quarter. Earnest Partners LLC increased its stake in WEX by 2.6% during the first quarter. Earnest Partners LLC now owns 895,406 shares of the business services provider’s stock worth $140,597,000 after acquiring an additional 22,672 shares during the last quarter. Lyrical Asset Management LP raised its position in WEX by 0.3% during the first quarter. Lyrical Asset Management LP now owns 826,188 shares of the business services provider’s stock valued at $129,728,000 after purchasing an additional 2,754 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of WEX by 20,412.8% in the 1st quarter. Hsbc Holdings PLC now owns 638,563 shares of the business services provider’s stock valued at $99,069,000 after purchasing an additional 635,450 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on WEX. Mizuho boosted their target price on WEX from $150.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Bank of America upgraded shares of WEX from a “neutral” rating to a “buy” rating and set a $178.00 target price for the company in a report on Wednesday, October 22nd. JPMorgan Chase & Co. cut their price target on shares of WEX from $195.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Zacks Research lowered shares of WEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Robert W. Baird boosted their target price on WEX from $198.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $172.92.

WEX Trading Down 0.4%

Shares of WEX opened at $148.95 on Friday. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.34 and a beta of 1.24. The company has a debt-to-equity ratio of 3.99, a current ratio of 1.04 and a quick ratio of 1.04. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $191.43. The company has a 50-day moving average of $151.92 and a 200 day moving average of $154.35.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, October 29th. The business services provider reported $4.59 EPS for the quarter, topping analysts’ consensus estimates of $4.45 by $0.14. WEX had a net margin of 10.81% and a return on equity of 45.36%. The business had revenue of $691.80 million for the quarter, compared to analyst estimates of $678.25 million. During the same period last year, the company posted $4.35 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. WEX has set its Q4 2025 guidance at 3.760-3.960 EPS. FY 2025 guidance at 15.760-15.96 EPS. On average, research analysts expect that WEX Inc. will post 14.09 EPS for the current year.

Insiders Place Their Bets

In other news, Director Stephen Montgomery Smith bought 1,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was acquired at an average cost of $144.25 per share, with a total value of $144,250.00. Following the transaction, the director directly owned 7,971 shares in the company, valued at approximately $1,149,816.75. This trade represents a 14.35% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.

About WEX

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.