Primecap Management Co. CA Takes Position in WEX Inc. $WEX

Primecap Management Co. CA acquired a new position in WEX Inc. (NYSE:WEX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 54,660 shares of the business services provider’s stock, valued at approximately $7,712,000. Primecap Management Co. CA owned approximately 0.16% of WEX at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Evercore raised shares of WEX to an “outperform” rating in a research note on Tuesday, July 21st. Cantor Fitzgerald set a $178.00 price objective on WEX in a report on Monday, July 27th. Mizuho lifted their price objective on WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings upgraded WEX from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Finally, Wall Street Zen lowered WEX from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $183.30.

WEX Price Performance

NYSE WEX opened at $198.07 on Thursday. WEX Inc. has a fifty-two week low of $125.29 and a fifty-two week high of $203.99. The stock’s 50-day moving average is $168.48 and its two-hundred day moving average is $158.42. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $6.75 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 1.04 and a beta of 0.82.

WEX (NYSE:WEX) last released its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.08 by $0.27. The company had revenue of $753.50 million during the quarter, compared to the consensus estimate of $740.72 million. WEX had a return on equity of 43.19% and a net margin of 12.56%.The firm’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.95 EPS. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. On average, analysts anticipate 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 program on Thursday, May 14th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to buy up to 21.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other WEX news, CAO Jennifer Kimball sold 1,183 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $176.55, for a total transaction of $208,858.65. Following the completion of the sale, the chief accounting officer owned 4,916 shares of the company’s stock, valued at $867,919.80. This represents a 19.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Carlos Carriedo sold 1,075 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer owned 11,076 shares in the company, valued at approximately $2,060,136. This trade represents a 8.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,658 shares of company stock valued at $1,489,027 in the last quarter. Company insiders own 1.40% of the company’s stock.

WEX Company 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.