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WEX Inc. - WEX STOCK NEWS

Welcome to our dedicated page for WEX news (Ticker: WEX), a resource for investors and traders seeking the latest updates and insights on WEX stock.

WEX Inc. (NYSE: WEX) is a global leader in corporate payment solutions designed to enhance business efficiency, security, and cost control. Founded in 1983 with a focus on fleet card payments, WEX has since diversified its offerings to encompass a wide array of corporate payment solutions, serving millions of cardholders across various sectors, including travel, healthcare, and employee benefits.

The company operates in three main segments: Mobility, Benefits, and Corporate Payments. The Mobility segment, which generates the highest revenue, offers fleet vehicle payment solutions, transaction processing, and information management services for both commercial and government fleets. The Corporate Payments segment provides business-to-business payment processing and transaction monitoring services. The Benefits segment focuses on healthcare payment products and a consumer-directed software platform.

WEX has a significant presence across North and South America, Europe, Australia, New Zealand, and Asia, employing over 2,000 associates. The company is committed to delivering exceptional payment security and control, ensuring that businesses of all sizes can operate efficiently and profitably.

Recent achievements highlight WEX's commitment to innovation and industry leadership. The company has filed a federal lawsuit against HP Inc. and Hewlett-Packard Development Company, L.P. for trademark infringement. This legal action underscores WEX's dedication to protecting its brand and intellectual property rights.

For more detailed information and the latest updates, visit WEX Inc.

News

WEX Inc. Reports Fourth Quarter and Full Year 2023 Financial Results

Rhea-AI Summary
WEX (NYSE: WEX) reported a 7% year-over-year increase in Q4 revenue to a record $663 million, driven by growth in the Benefits and Corporate Payments segments. The company also achieved a 23.9% GAAP operating income margin and 39.6% adjusted operating income margin. For the full year 2023, revenue increased by 8% to $2.55 billion. WEX demonstrated strong financial performance, with net income and adjusted net income showing positive growth. The company also repurchased shares and generated significant cash flow. Strategic acquisitions and investments in AI and technology infrastructure position WEX for continued success in 2024.
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WEX Inc. to Release Fourth Quarter and Full Year 2023 Financial Results on February 8, 2024

Rhea-AI Summary
WEX Inc. (NYSE: WEX) will report Q4 and full year 2023 financial results on February 8, 2024. The conference call will be hosted by Melissa Smith, Chair and CEO, and Jagtar Narula, CFO, accessible via webcast or phone. A replay will be available on the company's website.
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WEX Names Sachin Dhawan New Chief Technology Officer

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WEX (NYSE: WEX) appoints Sachin Dhawan as Chief Technology Officer (CTO), bringing decades of global technology experience from companies like Stitch Fix, Visa, PayPal, and Microsoft. 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.
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WEX Elects Aimee Cardwell, Former Executive Vice President and Chief Information Security Officer of UnitedHealth Group, to its Board of Directors

Rhea-AI Summary
WEX Inc. (NYSE: WEX) welcomes Aimee Cardwell to its Board of Directors, bringing over 20 years of leadership experience in the payments and health spaces. Ms. Cardwell's extensive background in technology, information security, and strategy, along with her industry knowledge, will provide valuable insights to WEX as it continues executing strategic initiatives.
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Reflecting Accelerating Growth in Health Savings Accounts (HSAs), Mesirow Tapped by WEX to Serve as RIA

Rhea-AI Summary
Mesirow Fiduciary Solutions, a division of Mesirow, is now providing RIA services for WEX (NYSE: WEX), the nation's fifth-largest HSA custodian. WEX technology powers approximately 7.5 million HSAs, with employees across the country relying on WEX to manage the administration of their health benefits.
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WEX to Present at the Raymond James TMT and Consumer Conference

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WEX Inc. (WEX) CEO Melissa Smith to Present at Raymond James TMT and Consumer Conference
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WEX to Present at the UBS Global Technology Conference

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WEX Inc. (NYSE: WEX) CFO to Present at UBS Global Technology Conference on November 29, 2023
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WEX Completes Acquisition of Payzer

Rhea-AI Summary
WEX has completed the acquisition of Payzer, a cloud-based field service management software provider. The acquisition is expected to strengthen WEX's position in the market and expand its offerings.
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WEX Inc. Reports Third Quarter 2023 Financial Results

Rhea-AI Summary
WEX reports Q3 revenue increase of 6% YoY to a record $651 million. Raises full-year 2023 financial guidance. Enters agreement to acquire Payzer. Q3 GAAP net income was $0.42 per diluted share; Q3 adjusted net income was $4.05 per diluted share.
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WEX Signs Definitive Agreement to Acquire Payzer

Rhea-AI Summary
WEX announces acquisition of Payzer, a cloud-based field service management software provider, to expand its product suite and create cross-sell opportunities. The acquisition will provide a new SaaS solution for WEX's small business customers in the field service industry.
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FAQ

What is the current stock price of WEX (WEX)?

The current stock price of WEX (WEX) is $169.39 as of December 20, 2024.

What is the market cap of WEX (WEX)?

The market cap of WEX (WEX) is approximately 6.7B.

What does WEX Inc. specialize in?

WEX Inc. specializes in corporate payment solutions, including fleet vehicle payments, business-to-business payment processing, and healthcare payment products.

Which market segments does WEX Inc. operate in?

WEX Inc. operates in three main segments: Mobility, Benefits, and Corporate Payments.

Who are WEX Inc.'s main customers?

WEX Inc.'s customers range from small businesses to large enterprises, spanning sectors such as travel, healthcare, and fleet management.

Where does WEX Inc. have operations?

WEX Inc. has operations in North and South America, Europe, Australia, New Zealand, and Asia.

How many employees does WEX Inc. have?

WEX Inc. employs more than 2,000 associates globally.

What recent legal action has WEX Inc. taken?

WEX Inc. has filed a federal lawsuit against HP Inc. and Hewlett-Packard Development Company, L.P. for trademark infringement.

What is the Mobility segment of WEX Inc.?

The Mobility segment of WEX Inc. provides fleet vehicle payment solutions, transaction processing, and information management services for commercial and government fleets.

What services are offered under the Corporate Payments segment?

The Corporate Payments segment offers business-to-business payment processing and transaction monitoring services.

What does the Benefits segment of WEX Inc. involve?

The Benefits segment involves healthcare payment products and a consumer-directed software platform.

Where can I find more information about WEX Inc.?

You can find more information about WEX Inc. on their official website at www.wexinc.com.

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WEX Inc.

NYSE:WEX

WEX Rankings

#1084 Ranked by Market Cap
N/A Ranked by Dividends

WEX Stock Data

6.68B
39.45M
0.76%
107.82%
1.76%
Software - Infrastructure
Services-business Services, Nec
Link
United States of America
PORTLAND