CenterBook Partners LP Acquires 50,752 Shares of WEX Inc. $WEX

CenterBook Partners LP lifted its holdings in shares of WEX Inc. (NYSE:WEX) by 252.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,834 shares of the business services provider’s stock after purchasing an additional 50,752 shares during the quarter. CenterBook Partners LP owned 0.21% of WEX worth $10,553,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WEX. Turtle Creek Asset Management Inc. bought a new position in shares of WEX during the third quarter worth approximately $93,289,000. Norges Bank bought a new position in shares of WEX during the fourth quarter worth approximately $50,202,000. Goldman Sachs Group Inc. increased 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 purchasing an additional 215,036 shares during the period. M&T Bank Corp bought a new position in shares of WEX during the fourth quarter worth approximately $28,129,000. Finally, UBS Group AG increased its holdings in shares of WEX by 68.2% during the third quarter. UBS Group AG now owns 434,148 shares of the business services provider’s stock worth $68,391,000 after purchasing an additional 176,042 shares during the period. 97.47% of the stock is owned by institutional investors.

Insider Activity at WEX

In related news, Director James R. Groch bought 1,500 shares of the business’s stock in a transaction on Monday, May 18th. The shares were purchased at an average price of $142.95 per share, for a total transaction of $214,425.00. Following the completion of the transaction, the director directly owned 17,957 shares of the company’s stock, valued at approximately $2,566,953.15. This represents a 9.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, COO Robert Joseph Deshaies sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $144.84, for a total transaction of $173,808.00. Following the completion of the sale, the chief operating officer owned 22,288 shares in the company, valued at $3,228,193.92. This represents a 5.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 9,019 shares of company stock worth $1,446,996. Corporate insiders own 1.40% of the company’s stock.

WEX Stock Performance

Shares of NYSE:WEX opened at $147.96 on Monday. The company’s 50 day simple moving average is $152.54 and its 200 day simple moving average is $153.55. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.92 and a beta of 0.85. 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 Inc. has a 1 year low of $132.35 and a 1 year high of $186.85.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $4.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.23. The business had revenue of $673.80 million for the quarter, compared to analysts’ expectations of $660.96 million. WEX had a net margin of 11.50% and a return on equity of 42.66%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $3.51 earnings per share. WEX has set its FY 2026 guidance at 18.950-19.550 EPS and its Q2 2026 guidance at 4.930-5.130 EPS. As a group, research analysts predict that WEX Inc. will post 16.49 EPS for the current fiscal year.

WEX announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 14th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 21.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

WEX has been the topic of several recent research reports. Robert W. Baird raised their target price on shares of WEX from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Raymond James Financial reaffirmed a “market perform” rating on shares of WEX in a report on Friday, March 6th. Cantor Fitzgerald raised their target price on shares of WEX from $158.00 to $166.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Weiss Ratings reissued a “hold (c)” rating on shares of WEX in a research note on Monday, April 20th. Finally, Wall Street Zen cut shares of WEX from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Four investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, WEX has a consensus rating of “Hold” and a consensus price target of $172.70.

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.