Public Employees Retirement System of Ohio Invests $5.98 Million in WEX Inc. $WEX

Public Employees Retirement System of Ohio acquired a new stake in shares of WEX Inc. (NYSE:WEX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 42,395 shares of the business services provider’s stock, valued at approximately $5,982,000.

Several other hedge funds also recently bought and sold shares of WEX. Los Angeles Capital Management LLC purchased a new stake in WEX in the fourth quarter worth $25,000. Global Retirement Partners LLC purchased a new stake in shares of WEX during the second quarter valued at $26,000. Caitong International Asset Management Co. Ltd increased its stake in WEX by 368.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 220 shares of the business services provider’s stock worth $35,000 after buying an additional 173 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in WEX during the 2nd quarter valued at about $41,000. Finally, Root Financial Partners LLC boosted its position in WEX by 255.0% in the 1st quarter. Root Financial Partners LLC now owns 355 shares of the business services provider’s stock valued at $54,000 after buying an additional 255 shares during the period. Institutional investors own 97.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WEX. Mizuho raised their target price on shares of WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Evercore upgraded WEX to an “outperform” rating in a report on Tuesday, July 21st. Weiss Ratings raised WEX from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Wall Street Zen downgraded WEX from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Finally, Keefe, Bruyette & Woods raised their price target on WEX from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, WEX currently has a consensus rating of “Hold” and a consensus target price of $183.30.

WEX Stock Performance

Shares of WEX opened at $193.21 on Thursday. WEX Inc. has a 12 month low of $125.29 and a 12 month high of $203.99. The stock has a fifty day moving average price of $174.85 and a 200-day moving average price of $159.56. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.62. The firm has a market cap of $6.59 billion, a PE ratio of 19.24, a P/E/G ratio of 0.98 and a beta of 0.83.

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

WEX announced that its board has approved a stock buyback program on Thursday, May 14th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 21.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, COO Robert Joseph Deshaies sold 1,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $184.95, for a total transaction of $184,950.00. Following the sale, the chief operating officer owned 19,288 shares in the company, valued at approximately $3,567,315.60. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer Kimball sold 1,183 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $176.55, for a total transaction of $208,858.65. Following the transaction, the chief accounting officer owned 4,916 shares in the company, valued at approximately $867,919.80. This trade represents a 19.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 8,658 shares of company stock worth $1,489,027 in the last three months. Insiders own 1.40% of the company’s stock.

WEX Profile

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.