Burney Co. Purchases New Holdings in WEX Inc. $WEX

Burney Co. acquired a new position in shares of WEX Inc. (NYSE:WEX) in the 3rd quarter, HoldingsChannel reports. The firm acquired 16,995 shares of the business services provider’s stock, valued at approximately $2,677,000.

A number of other hedge funds have also made changes to their positions in WEX. Boston Partners acquired a new stake in shares of WEX in the second quarter worth approximately $187,102,000. Millennium Management LLC lifted its holdings in WEX by 652.7% in the 1st quarter. Millennium Management LLC now owns 412,665 shares of the business services provider’s stock valued at $64,797,000 after purchasing an additional 357,842 shares in the last quarter. Norges Bank acquired a new stake in WEX during the 2nd quarter worth $42,812,000. Goldman Sachs Group Inc. grew its holdings in shares of WEX by 158.3% during the first quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider’s stock worth $55,097,000 after buying an additional 215,036 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of WEX by 399.9% in the first quarter. Jane Street Group LLC now owns 210,707 shares of the business services provider’s stock valued at $33,085,000 after buying an additional 168,558 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Price Performance

Shares of WEX opened at $153.42 on Friday. The firm has a 50-day simple moving average of $149.58 and a two-hundred day simple moving average of $156.66. The stock has a market cap of $5.26 billion, a PE ratio of 19.95, a P/E/G ratio of 1.22 and a beta of 1.03. WEX Inc. has a 1-year low of $110.45 and a 1-year high of $188.70. The company has a debt-to-equity ratio of 3.33, a current ratio of 1.05 and a quick ratio of 1.05.

WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, October 29th. The business services provider reported $4.59 earnings per share for the quarter, topping analysts’ consensus estimates of $4.45 by $0.14. WEX had a net margin of 10.81% and a return on equity of 45.10%. The firm had revenue of $691.80 million during the quarter, compared to analysts’ expectations of $678.25 million. During the same quarter last year, the company posted $4.35 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. WEX has set its Q4 2025 guidance at 3.760-3.960 EPS and its FY 2025 guidance at 15.760-15.96 EPS. As a group, analysts forecast that WEX Inc. will post 14.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of WEX from $195.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Robert W. Baird boosted their target price on WEX from $198.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Bank of America upgraded WEX from a “neutral” rating to a “buy” rating and set a $178.00 price target for the company in a research report on Wednesday, October 22nd. Zacks Research downgraded WEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of WEX in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $172.92.

Insider Transactions at WEX

In other news, COO Robert Joseph Deshaies sold 1,506 shares of WEX stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $149.62, for a total value of $225,327.72. Following the completion of the sale, the chief operating officer directly owned 15,699 shares of the company’s stock, valued at approximately $2,348,884.38. The trade was a 8.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jennifer Kimball sold 494 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $151.40, for a total value of $74,791.60. Following the completion of the sale, the chief accounting officer owned 3,671 shares in the company, valued at $555,789.40. This represents a 11.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.40% of the company’s stock.

WEX 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.