California State Teachers Retirement System Grows Position in WEX Inc. $WEX

Key Points

• California State Teachers Retirement System increased its WEX stake by 23.6% in the first quarter to 38,221 shares valued at approximately $5.85 million. Institutional investors collectively own 97.47% of the company.
• WEX exceeded quarterly expectations, reporting $5.35 in EPS versus the $5.08 consensus and $753.5 million in revenue, up 14.2% year over year. The company issued third-quarter and full-year 2026 earnings guidance.
• WEX authorized a $1 billion stock repurchase program, allowing buybacks of up to 21.2% of outstanding shares. Analysts remain mixed, with a consensus “Hold” rating and an average price target of $183.30.

California State Teachers Retirement System raised its stake in shares of WEX Inc. (NYSE:WEX - Free Report) by 23.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,221 shares of the business services provider's stock after purchasing an additional 7,303 shares during the quarter. California State Teachers Retirement System owned about 0.11% of WEX worth $5,849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new stake in shares of WEX during the fourth quarter valued at $25,000. First Horizon Corp increased its position in shares of WEX by 65.7% in the 4th quarter. First Horizon Corp now owns 237 shares of the business services provider's stock valued at $35,000 after acquiring an additional 94 shares during the period. Caitong International Asset Management Co. Ltd raised 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 acquiring an additional 173 shares during the last quarter. Root Financial Partners LLC raised its stake in WEX by 255.0% in the 1st quarter. Root Financial Partners LLC now owns 355 shares of the business services provider's stock worth $54,000 after acquiring an additional 255 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in WEX by 225.4% during the 4th quarter. IFP Advisors Inc now owns 371 shares of the business services provider's stock worth $55,000 after acquiring an additional 257 shares during the period. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Trading Down 0.4%

NYSE WEX opened at $188.40 on Thursday. WEX Inc. has a 1 year low of $125.29 and a 1 year high of $192.37. 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 has a market capitalization of $6.42 billion, a PE ratio of 18.76, a P/E/G ratio of 1.05 and a beta of 0.82. The company has a fifty day moving average of $152.79 and a 200 day moving average of $154.31.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly 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. The company had revenue of $753.50 million for the quarter, compared to the consensus estimate of $740.72 million. WEX had a return on equity of 43.19% and a net margin of 12.56%.The firm's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the firm earned $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. Research analysts forecast that WEX Inc. will post 17.12 earnings per share for the current year.

WEX declared that its board has initiated a stock repurchase plan on Thursday, May 14th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to repurchase up to 21.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director James R. Groch bought 1,500 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average cost of $142.95 per share, with a total value of $214,425.00. Following the completion of the acquisition, the director directly owned 17,957 shares in the company, valued at approximately $2,566,953.15. The trade was a 9.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert Joseph 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 value of $184,950.00. Following the transaction, the chief operating officer owned 19,288 shares of the company's stock, valued at approximately $3,567,315.60. This represents a 4.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,783 shares of company stock valued at $1,462,885 in the last three months. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WEX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on WEX from $180.00 to $160.00 and set a "hold" rating on the stock in a report on Friday, June 12th. Evercore raised WEX to an "outperform" rating in a report on Tuesday, July 21st. Morgan Stanley lifted their target price on WEX from $161.00 to $172.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. Loop Capital assumed coverage on WEX in a research report on Monday, April 27th. They issued a "buy" rating and a $195.00 target price on the stock. Finally, Mizuho increased their price target on shares of WEX from $170.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $183.30.

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.

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