Morgan Stanley Forecasts Strong Price Appreciation for WEX (NYSE:WEX) Stock

WEX (NYSE:WEX) had its price objective upped by investment analysts at Morgan Stanley from $161.00 to $172.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 5.24% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Evercore raised shares of WEX to an “outperform” rating in a report on Tuesday. Loop Capital assumed coverage on WEX in a research report on Monday, April 27th. They set a “buy” rating and a $195.00 price target on the stock. Cantor Fitzgerald cut their price target on WEX from $173.00 to $152.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on WEX from $180.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, June 12th. Finally, Robert W. Baird increased their target price on WEX from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $173.70.

WEX Stock Down 0.5%

WEX stock opened at $163.44 on Tuesday. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 1.01 and a beta of 0.85. WEX has a 1-year low of $125.29 and a 1-year high of $186.85. The firm has a fifty day moving average price of $144.02 and a two-hundred day moving average price of $152.28. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.05 and a quick ratio of 1.05.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $4.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.23. WEX had a net margin of 11.50% and a return on equity of 42.66%. The company had revenue of $673.80 million for the quarter, compared to the consensus estimate of $660.96 million. During the same period last year, the firm posted $3.51 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. WEX has set its FY 2026 guidance at 18.950-19.550 EPS and its Q2 2026 guidance at 4.930-5.130 EPS. Research analysts predict that WEX will post 16.81 EPS for the current year.

WEX declared that its Board of Directors has approved a share repurchase plan on Thursday, May 14th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to purchase up to 21.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director James R. Groch bought 1,500 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average price of $142.95 per share, with a total value of $214,425.00. Following the completion of the purchase, the director directly owned 17,957 shares of the company’s stock, valued at $2,566,953.15. This represents a 9.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Robert Joseph Deshaies sold 2,000 shares of WEX stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $148.40, for a total transaction of $296,800.00. Following the completion of the transaction, the chief operating officer directly owned 20,288 shares in the company, valued at $3,010,739.20. This represents a 8.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On WEX

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