28,019 Shares in WEX Inc. $WEX Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

by · The Markets Daily

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in WEX Inc. (NYSE:WEX – Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 28,019 shares of the business services provider’s stock, valued at approximately $3,953,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.08% of WEX as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of WEX. American Century Companies Inc. grew its position in shares of WEX by 1.9% during the second quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider’s stock valued at $471,000 after purchasing an additional 60 shares in the last quarter. Eukles Asset Management boosted its stake in WEX by 2.8% during the fourth quarter. Eukles Asset Management now owns 3,429 shares of the business services provider’s stock valued at $511,000 after buying an additional 95 shares during the last quarter. Nicolet Advisory Services LLC boosted its stake in WEX by 8.1% during the third quarter. Nicolet Advisory Services LLC now owns 1,362 shares of the business services provider’s stock valued at $214,000 after buying an additional 102 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in WEX by 0.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,095 shares of the business services provider’s stock valued at $1,748,000 after buying an additional 104 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its stake in WEX by 2.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 6,280 shares of the business services provider’s stock worth $961,000 after acquiring an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Stock Performance

Shares of NYSE:WEX opened at $185.97 on Thursday. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.98 and a beta of 0.83. WEX Inc. has a 12 month low of $125.29 and a 12 month high of $203.99. The firm’s 50-day moving average is $180.12 and its 200 day moving average is $160.77. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.62.

WEX (NYSE:WEX – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.08 by $0.27. WEX had a net margin of 12.56% and a return on equity of 43.19%. The business had revenue of $753.50 million during the quarter, compared to the consensus estimate of $740.72 million. During the same quarter last year, the firm earned $3.95 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. Research analysts predict that WEX Inc. will post 17.11 EPS for the current year.

WEX declared that its Board of Directors has approved a share buyback program on Thursday, May 14th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 21.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

WEX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of WEX from $180.00 to $160.00 and set a “hold” rating for the company in a report on Friday, June 12th. Keefe, Bruyette & Woods increased their price objective on shares of WEX from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Cantor Fitzgerald set a $178.00 price objective on shares of WEX in a research note on Monday, July 27th. Weiss Ratings upgraded shares of WEX from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Finally, Morgan Stanley lifted their price target on WEX from $161.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, WEX has a consensus rating of “Hold” and an average price target of $183.30.

Check Out Our Latest Stock Analysis on WEX

Insider Activity

In other news, COO Carlos Carriedo sold 1,075 shares of WEX stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $186.00, for a total transaction of $199,950.00. Following the completion of the sale, the chief operating officer directly owned 11,076 shares in the company, valued at approximately $2,060,136. This trade represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Melissa D. Smith sold 28,109 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $190.09, for a total transaction of $5,343,239.81. Following the completion of the transaction, the chief executive officer owned 126,625 shares in the company, valued at approximately $24,070,146.25. The trade was a 18.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,767 shares of company stock worth $6,832,266 in the last three months. Corporate insiders own 1.40% of the company’s stock.

About WEX

(Free Report)

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.

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