WEX Inc. (NYSE:WEX) will look for M&A. Melissa Smith Chair and CEO said during the Fourth Quarter 2023 Earnings Call, "So our intention is to use the cash both for acquisitions and for share buyback. And obviously, like we've been buying back stock. We bought back 1.7 million shares last year.

And so we have like a strong emphasis that we believe that our stock is still at a good value, and we'll continue to place emphasis there. That being said, we will also, at the same time, look at pipelines for M&A transactions and evaluate that as another use of capital".