4 - WEX Inc. (0001309108) (Issuer)

WEX (NYSE:WEX) reported quarterly earnings of $3.91 per share which beat the analyst consensus estimate of $3.80 by 2.89 percent. This is a 7.71 percent increase over earnings of $3.63 per share from the same period last year. The company reported quarterly sales of $673.500 million which missed the analyst consensus estimate of $679.819 million by 0.93 percent. This is a 8.40 percent increase over sales of $621.300 million the same period last year.

WEX (NYSE:WEX) has outperformed the market over the past 15 years by 32.25% on an annualized basis producing an average annual return of 44.31%. Currently, WEX has a market capitalization of $7.60 billion. Buying $100 In WEX: If an investor had bought $100 of WEX stock 15 years ago, it would be worth $23,562.34 today based on a price of $181.43 for WEX at the time of writing. WEX's Performance Over Last 15 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated content engine and reviewed by an editor

This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. Here's the list of options activity happening in today's session: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume BAC CALL SWEEP BEARISH 07/19/24 $42.00 $49.2K 23.3K 2.0K COIN CALL TRADE BEARISH 08/16/24 $250.00 $36

JP Morgan analyst Tien-Tsin Huang maintains WEX (NYSE:WEX) with a Neutral and lowers the price target from $246 to $210.

WEX's (NYSE:WEX) short percent of float has risen 3.45% since its last report. The company recently reported that it has 786 thousand shares sold short, which is 2.1% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.09 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is important

Keefe, Bruyette & Woods analyst Sanjay Sakhrani maintains WEX (NYSE:WEX) with a Outperform and lowers the price target from $275 to $230.

WEX (NYSE:WEX) has outperformed the market over the past 15 years by 30.84% on an annualized basis producing an average annual return of 43.72%. Currently, WEX has a market capitalization of $7.44 billion. Buying $100 In WEX: If an investor had bought $100 of WEX stock 15 years ago, it would be worth $23,055.84 today based on a price of $177.53 for WEX at the time of writing. WEX's Performance Over Last 15 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated content engine and reviewed by an editor

Wolfe Research downgraded WEX from Outperform to Peer Perform

Wells Fargo initiated coverage of WEX with a rating of Equal Weight and set a new price target of $200.00

UBS resumed coverage of WEX with a rating of Neutral and set a new price target of $210.00

Wolfe Research upgraded WEX from Peer Perform to Outperform and set a new price target of $240.00

Deutsche Bank initiated coverage of WEX with a rating of Hold and set a new price target of $190.00

Evercore ISI resumed coverage of WEX with a rating of Outperform and set a new price target of $230.00

Wells Fargo initiated coverage of WEX with a rating of Overweight and set a new price target of $205.00

Mizuho reiterated coverage of WEX with a rating of Buy and set a new price target of $220.00 from $200.00 previously

Credit Suisse reiterated coverage of WEX with a rating of Neutral and set a new price target of $195.00 from $180.00 previously

Mizuho reiterated coverage of WEX with a rating of Buy and set a new price target of $200.00 from $205.00 previously

Digital shopping solution allows users to purchase grocery and over-the-counter products through a single integrated portal WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced the release of the WEX Medicare Advantage marketplace, a new digital shopping solution embedded within the member experience of its Medicare Advantage supplemental benefits platform. This expands the brick-and-mortar merchant network that Medicare Advantage members already have access to with an enhanced online shopping experience that allows members to purchase eligible over-the-counter (OTC) products and grocery items within WEX's integrated member po

For over 30 years, WEX has provided fleet mobility payments and technology solutions to Holman WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced an expanded agreement with Holman, one of the largest integrated automotive service companies in North America, that extends the companies' longstanding partnership through 2030. The agreement renews a more than 30-year partnership between WEX and Holman in the U.S., which leverages WEX fleet mobility solutions as part of Holman's offerings to its customers. The agreement also expands the companies' existing commercial fleet payments partnership across Canada. Additionally, Holman lev

Q3 revenue increased 2% year-over-year to a third quarter record $665 million, driven by 9% growth in the Benefits segment and continued progression in Mobility segment growth rate Q3 GAAP net income was $2.52 per diluted share; Q3 adjusted net income was $4.35 per diluted share Q3 GAAP operating income margin of 29.5% and adjusted operating income margin of 44.0% $370 million spent on share repurchases in Q3, including a $300 million accelerated share repurchase agreement WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for the three months ended September 30, 2024. "We continued to deliver growth and str

WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced it will report third quarter 2024 financial results before the market opens on Thursday, October 24, 2024. From WEX, Melissa Smith, Chair and Chief Executive Officer, and Jagtar Narula, Chief Financial Officer, will host a conference call that morning at 10:00 AM ET to discuss the Company's results. The conference call will be webcast live online and may be accessed through the investor relations section of the WEX website, www.wexinc.com. The live conference call may also be accessed by dialing +1 888-596-4144 or +1 646-968-2525. The passcode number is 2902800. A replay o

The 10-4 by WEX mobile app will give independent truckers access to fuel discounts typically reserved for larger enterprises WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced the general availability release of 10-4 by WEX, a free mobile app that provides independent truckers and small trucking companies in the U.S. with fuel discounts typically reserved for larger trucking enterprises. This increases WEX's total addressable market in its Mobility segment by expanding its diesel product offerings to sole proprietors and other independent businesses. This press release features multimedia. View the full release here: https://www

80% of Global Commercial Fleet Leaders Surveyed Set Goal for 25% EVs by 2030, Latest Frost & Sullivan Insights Reveal LONDON, Sept. 18, 2024 /PRNewswire/ -- Conducted by Frost & Sullivan and commissioned by WEX (NYSE:WEX), a new report provides key insights for organisations managing mixed-energy fleets across Europe, North America, and Asia-Pacific. The study underscores the rapid progress in fleet electrification. While EV adoption rates vary by business and fleet type, most fleet managers expect a significant increase in EVs to enter their fleets over the next five years. Almost half of those surveyed stated that 50% or more of their fleet would consist of EVs by 2030.  The 2024 global s

Conducted by Frost & Sullivan and commissioned by WEX, the report offers insights for organizations managing mixed-energy fleets across markets in Europe, North America, and Asia-Pacific. A new study by Frost & Sullivan commissioned by WEX (NYSE:WEX), the global commerce platform simplifying the business of running a business, reveals that mixed-energy fleets are projected to increase given anticipated commercial EV adoption rates. According to the study, 80% of mixed-energy fleet operators intend for at least 25% of their fleets to be comprised of electric vehicles (EVs) by 2030 and 42% stated that half or more of their fleet would be composed of EVs by 2030. "The Commercial EV Transitio

WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced that its board of directors has authorized an amended share repurchase program under which up to an additional $1.0 billion worth of WEX's common stock may be repurchased, expanding the total authorization to $2.05 billion through December 31, 2025. "This is yet another important milestone in the execution of our balanced capital allocation framework that is key to our value creation strategy," said Melissa Smith, WEX's Chair, Chief Executive Officer, and President. "Our strong balance sheet and highly cash generative business model enable us to invest in growth while also

WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced it has entered into an accelerated share repurchase ("ASR") agreement with JPMorgan Chase Bank, National Association ("JPMorgan") to repurchase an aggregate of $300 million of WEX's outstanding common stock. WEX entered into the ASR under its existing $1.05 billion amended share repurchase authorization, which was announced in February 2024. "Entering into this ASR reflects our confidence and belief in WEX's intrinsic value and long-term growth potential, underpinned by our strong revenue and earnings growth profile and our expectations for our future cash generation," sai

Q2 revenue increased 8% year-over-year to a second quarter record $673 million, driven by 13% growth in the Benefits segment and acceleration in Mobility segment growth rate Q2 GAAP net income was $1.83 per diluted share; Q2 adjusted net income was $3.91 per diluted share Q2 GAAP operating income margin of 25.0% and adjusted operating income margin of 40.7% Share repurchases of approximately $100 million during Q2, an additional $70 million in July 2024, and expect to enter into a $300 million accelerated share repurchase agreement in the near future WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for

WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced that Sachin Dhawan has been appointed Chief Technology Officer (CTO). In this position, Mr. Dhawan will lead WEX's global Technology Organization, including product and platform technology, architecture, cybersecurity, infrastructure and cloud engineering, technical operations, enterprise applications and Corporate IT, and technology-risk management. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231212875342/en/(Photo: Business Wire) "Sachin is a career technologist with decades of global experience articulating and

Alegeus, the market leader in healthcare payment solutions, today announced the appointment of Melanie Hallenbeck as chief growth officer. With more than two decades of channel experience in the employee benefits and consumer-directed healthcare space, Hallenbeck most recently served as chief growth officer at Elevate, a fast-growing developer of employee benefits technology. Prior to Elevate, she served as chief growth and marketing officer at benefitexpress, which was acquired by Wex (NASDAQ:WEX), a leading global benefits company. Previously, she was senior vice president at WageWorks, leading the organization's health plan partner channel business. Earlier in her career, she held seni

Veteran WEX officer to take on additional strategic duties WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced the appointment of Jay Dearborn as Chief Strategy Officer, effective immediately. In this newly created role, Dearborn will drive both strategy and operational planning across the organization. He will also be responsible for end-to-end M&A activities, including deal origination, execution, and integration, as well as government affairs and external communications. "As we outlined at our Investor Day in March, WEX has a strong history of evolution, and today's announcement represents our commitment to further streamlini

Appointment effective May 25, 2022 WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced that Jagtar Narula has been appointed Chief Financial Officer (CFO), effective May 25, 2022. "Jagtar has proven strategic and financial experience leading innovative technology companies," said Melissa Smith, WEX's Chair and Chief Executive Officer. "His strong track record of successfully executing and integrating acquisitions, driving thoughtful growth through effective capital allocation, and building strong finance organizations in technology companies complements our existing leadership team and positions us well for continued profitable

Q3 revenue increased 2% year-over-year to a third quarter record $665 million, driven by 9% growth in the Benefits segment and continued progression in Mobility segment growth rate Q3 GAAP net income was $2.52 per diluted share; Q3 adjusted net income was $4.35 per diluted share Q3 GAAP operating income margin of 29.5% and adjusted operating income margin of 44.0% $370 million spent on share repurchases in Q3, including a $300 million accelerated share repurchase agreement WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for the three months ended September 30, 2024. "We continued to deliver growth and str

WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced it will report third quarter 2024 financial results before the market opens on Thursday, October 24, 2024. From WEX, Melissa Smith, Chair and Chief Executive Officer, and Jagtar Narula, Chief Financial Officer, will host a conference call that morning at 10:00 AM ET to discuss the Company's results. The conference call will be webcast live online and may be accessed through the investor relations section of the WEX website, www.wexinc.com. The live conference call may also be accessed by dialing +1 888-596-4144 or +1 646-968-2525. The passcode number is 2902800. A replay o

Q2 revenue increased 8% year-over-year to a second quarter record $673 million, driven by 13% growth in the Benefits segment and acceleration in Mobility segment growth rate Q2 GAAP net income was $1.83 per diluted share; Q2 adjusted net income was $3.91 per diluted share Q2 GAAP operating income margin of 25.0% and adjusted operating income margin of 40.7% Share repurchases of approximately $100 million during Q2, an additional $70 million in July 2024, and expect to enter into a $300 million accelerated share repurchase agreement in the near future WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for

WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced it will report second quarter 2024 financial results before the market opens on Thursday, July 25, 2024. From WEX, Melissa Smith, Chair and Chief Executive Officer, and Jagtar Narula, Chief Financial Officer, will host a conference call that morning at 10:00 AM ET to discuss the Company's results. The conference call will be webcast live online and may be accessed through the investor relations section of the WEX website, www.wexinc.com. The live conference call may also be accessed by dialing +1-888-596-4144 or +1-646-968-2525. The passcode number is 2902800. A replay o

Q1 revenue increased 7% year-over-year to a first quarter record $653 million, driven by 16% growth in the Benefits segment and 17% in the Corporate Payments segment Q1 GAAP net income was $1.55 per diluted share; Q1 adjusted net income was $3.46 per diluted share Q1 GAAP operating income margin of 25.2% and adjusted operating income margin of 38.5% Raises full-year 2024 financial guidance WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for the three months ended March 31, 2024. "WEX delivered impressive financial results in the first quarter, including record first quarter revenue, marking a strong

WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced it will report first quarter 2024 financial results before the market opens on Thursday, April 25, 2024. From WEX, Melissa Smith, Chair, Chief Executive Officer, and President, and Jagtar Narula, Chief Financial Officer, will host a conference call that morning at 10:00 AM ET to discuss the Company's results. The conference call will be webcast live online and may be accessed through the investor relations section of the WEX website, www.wexinc.com. The live conference call may also be accessed by dialing +1-888-596-4144 or +1-646-968-2525. The passcode number is 2902800.

Q4 revenue increased 7% year-over-year to a record $663 million, driven by 27% growth in the Benefits segment and 22% in the Corporate Payments segment Q4 GAAP net income was $1.98 per diluted share; Q4 adjusted net income was $3.82 per diluted share Q4 GAAP operating income margin of 23.9% and adjusted operating income margin of 39.6% WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for the three months and year ended December 31, 2023. "WEX had another outstanding year as we continued to drive profitable growth, generate strong adjusted free cash flow, and demonstrate our resiliency," said Melissa Smi

WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced it will report fourth quarter and full year 2023 financial results before the market opens on Thursday, February 8, 2024. From WEX, Melissa Smith, Chair and Chief Executive Officer, and Jagtar Narula, Chief Financial Officer, will host a conference call that morning at 10:00 AM ET to discuss the Company's results. The conference call will be webcast live online and may be accessed through the investor relations section of the WEX website, www.wexinc.com. The live conference call may also be accessed by dialing +1-888-510-2008 or +1-646-960-0306. The passcode number is 2237

Q3 revenue increased 6% year-over-year to a record $651 million, driven by 34% growth in the Benefits segment and 19% in the Corporate Payments segment Q3 GAAP net income was $0.42 per diluted share; Q3 adjusted net income was $4.05 per diluted share Q3 GAAP operating income margin of 26.8% and adjusted operating income margin of 41.8% Raises full-year 2023 financial guidance WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for the three months ended September 30, 2023. "The third quarter marked another strong period of financial results for WEX along with meaningful progress against our strategic in

High-growth field service management platform at the convergence of SaaS and payments helps customers simplify operations, streamline their sales processes, and improve collections Complementary solutions align with current customer base's needs, enhancing cross-sell opportunities and strengthening relationships Further expands total addressable market WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced the signing of a definitive agreement to acquire Payzer, a high-growth, cloud-based, field service management software provider. Upon expected completion, the acquisition will advance WEX's growth strategy of expanding its pr