Connor Clark & Lunn Investment Management Ltd. Invests $5.39 Million in WEX Inc. $WEX

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of WEX Inc. (NYSE:WEX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 38,186 shares of the business services provider’s stock, valued at approximately $5,388,000.

Other hedge funds have also recently modified their holdings of the company. Bank of Nova Scotia purchased a new position in WEX during the 2nd quarter valued at about $593,000. Foyston Gordon & Payne Inc bought a new stake in WEX in the second quarter worth $4,397,000. Commerce Bank purchased a new position in shares of WEX in the 2nd quarter worth about $559,000. Northwestern Mutual Wealth Management Co. bought a new position in WEX in the 2nd quarter worth about $41,000. Finally, Evolve Private Wealth LLC purchased a new stake in WEX during the 2nd quarter valued at about $269,000. Institutional investors own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Cantor Fitzgerald set a $178.00 target price on shares of WEX in a report on Monday, July 27th. Deutsche Bank Aktiengesellschaft cut their price target 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. Evercore raised WEX to an “outperform” rating in a research report on Tuesday, July 21st. Wall Street Zen cut WEX from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Finally, Mizuho lifted their target price on shares of WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to 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 $198.29 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.62. The company has a market capitalization of $6.76 billion, a P/E ratio of 19.75, a P/E/G ratio of 1.04 and a beta of 0.82. WEX Inc. has a 12 month low of $125.29 and a 12 month high of $203.99. The business’s 50-day moving average is $169.90 and its 200 day moving average is $158.70.

WEX (NYSE:WEX) last issued its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share for the quarter, topping the consensus estimate of $5.08 by $0.27. WEX had a return on equity of 43.19% and a net margin of 12.56%.The company had revenue of $753.50 million for the quarter, compared to analysts’ expectations of $740.72 million. During the same period in the previous year, the firm posted $3.95 earnings per share. The firm’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. On average, equities research analysts forecast that WEX Inc. will post 17.11 earnings per share for the current fiscal year.

WEX declared that its Board of Directors has approved a stock repurchase 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 reacquire up to 21.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at WEX

In related news, CAO Jennifer Kimball sold 1,183 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $176.55, for a total value of $208,858.65. Following the transaction, 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 firm’s stock in a transaction on Tuesday, August 4th. The stock was 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 $2,060,136. The trade was a 8.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 8,658 shares of company stock valued at $1,489,027. 1.40% of the stock is owned by insiders.

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.