5 High Growth Software Stocks that are Profitable

4. WEX Inc. (NYSE:WEX)

Number of Hedge Fund Holders: 37

Payment solutions company WEX Inc. (NYSE:WEX) ranks 4th in our list of the high growth software stocks that are profitable. WEX Inc. (NYSE:WEX)’s revenue in the fourth quarter of 2022 jumped by about 24.3% on a YoY basis to come in at $618.6 million, beating estimates by $41.59 million. Adjusted EPS in the quarter was $3.44, beating estimates by $0.22.

In the first quarter of 2023, WEX Inc. (NYSE:WEX) is expecting to generate revenue in the range of $600 million to $610 million, versus the consensus estimate of $569.52 million. Adjusted net income in the period is expected to come in between $140 million to $145 million, or $3.15 to $3.25 per diluted share, while the consensus estimate for this figure is $3.20.