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

Citigroup Inc. lifted its stake in shares of WEX Inc. (NYSE:WEX) by 103.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,088 shares of the business services provider’s stock after purchasing an additional 12,266 shares during the quarter. Citigroup Inc. owned about 0.07% of WEX worth $3,795,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in WEX by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,262,255 shares of the business services provider’s stock worth $513,903,000 after buying an additional 12,099 shares during the period. Boston Partners acquired a new position in shares of WEX during the second quarter worth approximately $187,102,000. JPMorgan Chase & Co. lifted its holdings in shares of WEX by 1.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,085,795 shares of the business services provider’s stock worth $159,494,000 after purchasing an additional 17,691 shares in the last quarter. Bank of America Corp DE grew its position in WEX by 10.2% in the 2nd quarter. Bank of America Corp DE now owns 809,658 shares of the business services provider’s stock valued at $118,931,000 after purchasing an additional 75,003 shares during the period. Finally, River Road Asset Management LLC raised its holdings in WEX by 20.9% during the second quarter. River Road Asset Management LLC now owns 797,871 shares of the business services provider’s stock worth $117,199,000 after buying an additional 137,673 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at WEX

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

WEX Price Performance

Shares of NYSE:WEX opened at $165.14 on Thursday. WEX Inc. has a fifty-two week low of $110.45 and a fifty-two week high of $180.71. The company’s 50-day moving average is $155.69 and its 200 day moving average is $156.37. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $5.67 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 1.26 and a beta of 0.97.

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

Analysts Set New Price Targets

Several research firms have recently commented on WEX. Cantor Fitzgerald boosted their target price on shares of WEX from $158.00 to $166.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Weiss Ratings reissued a “hold (c)” rating on shares of WEX in a research note on Wednesday, January 21st. Wall Street Zen lowered WEX from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. JPMorgan Chase & Co. decreased their price target on WEX from $175.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Finally, UBS Group set a $165.00 price objective on shares of WEX and gave the stock a “neutral” rating in a report on Friday, February 6th. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, WEX presently has a consensus rating of “Hold” and an average target price of $162.27.

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.