California Public Employees Retirement System Purchases 10,730 Shares of WEX Inc. $WEX

California Public Employees Retirement System raised its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,604 shares of the business services provider's stock after acquiring an additional 10,730 shares during the period. California Public Employees Retirement System owned approximately 0.22% of WEX worth $11,723,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in shares of WEX by 158.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider's stock valued at $55,097,000 after purchasing an additional 215,036 shares during the last quarter. Empowered Funds LLC bought a new stake in WEX during the first quarter valued at $394,000. American Century Companies Inc. increased its holdings in shares of WEX by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider's stock worth $471,000 after acquiring an additional 60 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of WEX by 4,837.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 395 shares of the business services provider's stock worth $58,000 after acquiring an additional 387 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of WEX during the 2nd quarter valued at $271,000. Hedge funds and other institutional investors own 97.47% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on WEX. Robert W. Baird upped their target price on WEX from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Mizuho upped their target price on shares of WEX from $170.00 to $200.00 and gave the company an "outperform" rating in a report on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on WEX from $180.00 to $160.00 and set a "hold" rating for the company in a report on Friday, June 12th. Wall Street Zen downgraded shares of WEX from a "buy" rating to a "hold" rating in a research report on Sunday, May 24th. Finally, Loop Capital assumed coverage on shares of WEX in a research report on Monday, April 27th. They set a "buy" rating and a $195.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $179.73.

Trending Headlines about WEX

Here are the key news stories impacting WEX this week:

• Positive Sentiment: WEX beat Q2 2026 expectations on both revenue and earnings, with revenue up 14.2% year over year to $753.5 million and adjusted EPS rising to $5.35, helping support bullish investor sentiment. Article Title
• Positive Sentiment: The company raised full-year guidance, now targeting $2.86 billion to $2.90 billion in revenue and $19.68 to $20.08 in adjusted EPS, which signals management confidence in continued growth. Article Title
• Positive Sentiment: Keefe, Bruyette & Woods lifted its price target on WEX to $210 from $200 and reiterated an outperform rating, implying additional upside from current levels. Article Title

WEX Stock Up 3.0%

NYSE:WEX opened at $176.56 on Friday. The firm has a market cap of $6.12 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 1.05 and a beta of 0.85. WEX Inc. has a 1-year low of $125.29 and a 1-year high of $186.85. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.04 and a quick ratio of 1.05. The company has a 50-day moving average of $146.40 and a 200 day moving average of $152.75.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share for the quarter, topping analysts' consensus estimates 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 in the prior year, the firm posted $3.95 earnings per share. The company's 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. As a group, research analysts anticipate that WEX Inc. will post 16.88 EPS for the current fiscal year.

WEX announced that its Board of Directors has initiated a stock repurchase program on Thursday, May 14th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to purchase up to 21.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, COO Robert Joseph Deshaies sold 2,000 shares of the company's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $148.40, for a total transaction of $296,800.00. Following the transaction, the chief operating officer owned 20,288 shares of the company's stock, valued at approximately $3,010,739.20. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James R. Groch purchased 1,500 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average price of $142.95 per share, for a total transaction of $214,425.00. Following the purchase, the director owned 17,957 shares of the company's stock, valued at approximately $2,566,953.15. This represents a 9.11% increase in their position. The SEC filing for this purchase provides additional information. 1.40% of the stock is owned by corporate insiders.

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.

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