WEX (NYSE:WEX) Reaches New 52-Week High – Still a Buy?

WEX Inc. (NYSE:WEX)’s stock price hit a new 52-week high on Thursday . The company traded as high as $194.68 and last traded at $197.5280, with a volume of 39822 shares trading hands. The stock had previously closed at $190.06.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WEX. Robert W. Baird lifted their price objective on WEX from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of WEX from $180.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, June 12th. Wall Street Zen cut shares of WEX from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Loop Capital assumed coverage on shares of WEX in a report on Monday, April 27th. They set a “buy” rating and a $195.00 price target for the company. Finally, Morgan Stanley lifted their price target on shares of WEX from $161.00 to $172.00 and gave the company 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 issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $183.30.

WEX Price Performance

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.62. The stock’s 50-day moving average price is $156.97 and its 200-day moving average price is $155.39. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.05 and a beta of 0.82.

WEX (NYSE:WEX) last issued its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share 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 during the quarter, compared to analyst estimates of $740.72 million. During the same quarter last year, the business posted $3.95 earnings per share. WEX’s revenue for the quarter was up 14.2% compared to the same quarter last year. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. Equities research analysts anticipate that WEX Inc. will post 17.12 earnings per share for the current year.

WEX announced that its board 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 purchase up to 21.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at WEX

In related news, COO Robert Joseph Deshaies sold 1,000 shares of WEX stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $184.95, for a total value of $184,950.00. Following the completion of the sale, the chief operating officer directly owned 19,288 shares in the company, valued at $3,567,315.60. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Carlos Carriedo sold 1,075 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $186.00, for a total value of $199,950.00. Following the sale, the chief operating officer directly owned 11,076 shares of the company’s stock, valued at $2,060,136. This represents a 8.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,858 shares of company stock valued at $1,662,835 over the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of WEX during the second quarter worth approximately $5,388,000. Bank of Nova Scotia acquired a new position in WEX in the second quarter valued at approximately $593,000. Foyston Gordon & Payne Inc bought a new position in WEX in the second quarter valued at approximately $4,397,000. Commerce Bank bought a new position in WEX in the second quarter valued at approximately $559,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in WEX during the 2nd quarter worth $41,000. Institutional investors 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.