Citigroup Inc. Buys 12,266 Shares of WEX Inc. $WEX

Citigroup Inc. increased its stake in shares of WEX Inc. (NYSE:WEX) by 103.8% during the third quarter, HoldingsChannel.com reports. The firm owned 24,088 shares of the business services provider’s stock after buying an additional 12,266 shares during the period. Citigroup Inc.’s holdings in WEX were worth $3,795,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Boston Partners purchased a new stake in shares of WEX in the second quarter worth about $187,102,000. Norges Bank purchased a new stake in WEX in the 2nd quarter worth approximately $42,812,000. Goldman Sachs Group Inc. lifted its stake in WEX by 158.3% in the 1st 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. River Road Asset Management LLC boosted its holdings in WEX by 20.9% in the 2nd quarter. River Road Asset Management LLC now owns 797,871 shares of the business services provider’s stock valued at $117,199,000 after purchasing an additional 137,673 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of WEX by 1,660.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 93,353 shares of the business services provider’s stock valued at $13,713,000 after purchasing an additional 88,050 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

WEX has been the topic of a number of recent analyst reports. Morgan Stanley set a $146.00 price objective on WEX in a research report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of WEX in a research report on Wednesday, January 21st. Cantor Fitzgerald boosted their price objective on WEX from $158.00 to $166.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Mizuho lowered their target price on shares of WEX from $180.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Finally, UBS Group set a $165.00 target price on shares of WEX and gave the company a “neutral” rating in a research report on Friday, February 6th. Three research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, WEX presently has an average rating of “Hold” and a consensus price target of $162.27.

WEX Price Performance

Shares of WEX stock opened at $165.14 on Thursday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.05 and a current ratio of 1.05. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $180.71. The company has a fifty day moving average of $155.69 and a 200-day moving average of $156.37. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 1.26 and a beta of 0.97.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, February 4th. The business services provider reported $4.11 EPS for the quarter, topping analysts’ consensus estimates of $3.90 by $0.21. WEX had a net margin of 11.43% and a return on equity of 48.01%. The company had revenue of $672.90 million for the quarter, compared to analysts’ expectations of $660.89 million. During the same quarter last year, the company earned $3.57 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. WEX has set its FY 2026 guidance at 17.250-17.850 EPS and its Q1 2026 guidance at 3.80-4.000 EPS. Equities research analysts expect that WEX Inc. will post 14.09 EPS for the current year.

Insider Buying and Selling

In other WEX news, insider Sara Trickett sold 1,815 shares of WEX stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $149.95, for a total value of $272,159.25. Following the transaction, the insider directly owned 2,137 shares of the company’s stock, valued at $320,443.15. The trade was a 45.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert Joseph Deshaies sold 3,238 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $150.22, for a total value of $486,412.36. Following the sale, the chief operating officer directly owned 14,859 shares of the company’s stock, valued at approximately $2,232,118.98. This trade represents a 17.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 8,154 shares of company stock worth $1,256,518. Insiders own 1.40% of the company’s stock.

About WEX

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.