WEX (NYSE:WEX) COO Carlos Carriedo Sells 1,075 Shares of Stock

WEX Inc. (NYSE:WEX) COO Carlos Carriedo sold 1,075 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $186.00, for a total transaction of $199,950.00. Following the completion of the sale, the chief operating officer directly owned 11,076 shares in the company, valued at $2,060,136. This represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

WEX Price Performance

Shares of WEX stock opened at $189.96 on Friday. The firm has a fifty day moving average of $153.70 and a two-hundred day moving average of $154.53. The firm has a market cap of $6.47 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.05 and a beta of 0.82. WEX Inc. has a 1-year low of $125.29 and a 1-year high of $192.37. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.04 and a quick ratio of 1.04.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share (EPS) 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 business had revenue of $753.50 million for the quarter, compared to analyst estimates of $740.72 million. During the same quarter in the prior year, the business posted $3.95 EPS. The company’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. As a group, research analysts anticipate that WEX Inc. will post 17.12 earnings per share for the current fiscal year.

WEX announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 14th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy up to 21.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of WEX

A number of institutional investors and hedge funds have recently made changes to their positions in WEX. AQR Capital Management LLC lifted its stake in WEX by 794.0% in the fourth quarter. AQR Capital Management LLC now owns 889,802 shares of the business services provider’s stock valued at $132,563,000 after buying an additional 790,271 shares during the last quarter. Turtle Creek Asset Management Inc. acquired a new stake in shares of WEX in the 3rd quarter worth about $93,289,000. Par Capital Management Inc. lifted its position in WEX by 21.6% in the 4th quarter. Par Capital Management Inc. now owns 2,252,000 shares of the business services provider’s stock valued at $335,503,000 after purchasing an additional 400,500 shares during the last quarter. Norges Bank acquired a new position in WEX during the 4th quarter valued at about $50,202,000. Finally, New South Capital Management Inc. boosted its stake in WEX by 627.0% during the 4th quarter. New South Capital Management Inc. now owns 268,023 shares of the business services provider’s stock valued at $39,930,000 after purchasing an additional 231,158 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on WEX. Mizuho increased their target price on WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Wall Street Zen lowered WEX from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Cantor Fitzgerald set a $178.00 price objective on WEX in a research note on Monday, July 27th. Keefe, Bruyette & Woods boosted their target price on shares of WEX from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, Morgan Stanley increased their target price on shares of WEX from $161.00 to $172.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $183.30.

About WEX

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.