Pictet Asset Management Holding SA Cuts Stake in WEX Inc. $WEX

Pictet Asset Management Holding SA lowered its holdings in shares of WEX Inc. (NYSE:WEX) by 49.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,024 shares of the business services provider’s stock after selling 4,859 shares during the period. Pictet Asset Management Holding SA’s holdings in WEX were worth $769,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in shares of WEX by 794.0% during the fourth quarter. AQR Capital Management LLC now owns 889,802 shares of the business services provider’s stock valued at $132,563,000 after buying an additional 790,271 shares during the last quarter. Turtle Creek Asset Management Inc. purchased a new position in shares of WEX in the third quarter worth about $93,289,000. Par Capital Management Inc. lifted its stake in shares of WEX by 21.6% in the 4th quarter. Par Capital Management Inc. now owns 2,252,000 shares of the business services provider’s stock valued at $335,503,000 after acquiring an additional 400,500 shares during the last quarter. Norges Bank bought a new stake in shares of WEX in the 4th quarter valued at about $50,202,000. Finally, New South Capital Management Inc. boosted its holdings in WEX by 627.0% during the 4th quarter. New South Capital Management Inc. now owns 268,023 shares of the business services provider’s stock valued at $39,930,000 after acquiring an additional 231,158 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Insiders Place Their Bets

In other WEX news, COO Robert Joseph Deshaies sold 2,000 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $148.40, for a total value of $296,800.00. Following the completion of the transaction, the chief operating officer directly owned 20,288 shares in the company, valued at approximately $3,010,739.20. This represents a 8.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joel Alan Dearborn, Jr. sold 3,500 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $175.00, for a total transaction of $612,500.00. Following the completion of the sale, the chief operating officer directly owned 22,872 shares of the company’s stock, valued at approximately $4,002,600. This represents a 13.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 6,700 shares of company stock worth $1,083,108. 1.40% of the stock is currently owned by corporate insiders.

WEX Trading Down 2.8%

WEX opened at $148.92 on Thursday. WEX Inc. has a one year low of $125.29 and a one year high of $186.85. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50 day simple moving average of $141.98 and a two-hundred day simple moving average of $151.87. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.94 and a beta of 0.85.

WEX (NYSE:WEX) last issued its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.23. The firm had revenue of $673.80 million for the quarter, compared to analyst estimates of $660.96 million. WEX had a return on equity of 42.66% and a net margin of 11.50%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $3.51 EPS. WEX has set its FY 2026 guidance at 18.950-19.550 EPS and its Q2 2026 guidance at 4.930-5.130 EPS. Analysts predict that WEX Inc. will post 16.77 EPS for the current year.

WEX declared that its board has authorized a share repurchase program 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 buy up to 21.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WEX shares. Morgan Stanley raised their price target on WEX from $146.00 to $158.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st. Loop Capital started coverage on WEX in a research note on Monday, April 27th. They set a “buy” rating and a $195.00 price objective for the company. Weiss Ratings cut shares of WEX from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 24th. Robert W. Baird lifted their target price on shares of WEX from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Finally, Wall Street Zen lowered shares of WEX from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Four analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $172.30.

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.