VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in WEX Inc. $WEX

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of WEX Inc. (NYSE:WEX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 28,019 shares of the business services provider’s stock, valued at approximately $3,953,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC bought a new stake in WEX during the 4th quarter valued at $25,000. Global Retirement Partners LLC bought a new position in shares of WEX during the 2nd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd lifted its position in WEX by 368.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 220 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 173 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in WEX during the second quarter valued at approximately $41,000. Finally, Root Financial Partners LLC boosted its stake in WEX by 255.0% in the first quarter. Root Financial Partners LLC now owns 355 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 255 shares in the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WEX shares. Mizuho upped their price target on WEX from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Evercore raised WEX to an “outperform” rating in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods boosted their target price on WEX from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Cantor Fitzgerald set a $178.00 target price on WEX in a research report on Monday, July 27th. Finally, Morgan Stanley increased their price target on WEX from $161.00 to $172.00 and gave the company an “equal weight” rating in a research note 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.30.

Insider Transactions at WEX

In related news, insider Ann Drew sold 3,400 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $176.02, for a total value of $598,468.00. Following the transaction, the insider owned 7,988 shares in the company, valued at approximately $1,406,047.76. This represents a 29.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert Deshaies sold 1,000 shares of WEX stock in a transaction that occurred on Thursday, July 30th. The shares were 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 of the company’s stock, valued at approximately $3,567,315.60. The trade was a 4.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 36,767 shares of company stock valued at $6,832,266 over the last quarter. Company insiders own 1.40% of the company’s stock.

WEX Price Performance

Shares of WEX opened at $185.97 on Thursday. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.04 and a quick ratio of 1.04. The company’s fifty day moving average price is $180.12 and its 200-day moving average price is $160.77. WEX Inc. has a 1-year low of $125.29 and a 1-year high of $203.99. The firm has a market capitalization of $6.34 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 0.98 and a beta of 0.83.

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

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

About WEX

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.