Canada Pension Plan Investment Board Makes New Investment in WEX Inc. $WEX

Key Points

• Institutional investors increased exposure to WEX: The Canada Pension Plan Investment Board bought 10,600 shares worth approximately $1.5 million, while other major investors also opened positions. Institutions now own 97.47% of WEX’s outstanding stock.
• WEX exceeded quarterly earnings and revenue expectations: The company reported $5.35 in adjusted EPS versus the $5.08 consensus estimate and revenue of $753.5 million, up 14.2% year over year. WEX expects third-quarter 2026 EPS of $5.45–$5.65 and full-year EPS of $19.68–$20.08.
• Analyst sentiment remains mixed despite a planned buyback: WEX authorized a $1 billion share-repurchase program covering up to 21.2% of shares, but analysts collectively rate the stock “Hold,” with a consensus price target of $183.30 versus the reported share price of $190.82.

Canada Pension Plan Investment Board bought a new position in shares of WEX Inc. (NYSE:WEX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,600 shares of the business services provider's stock, valued at approximately $1,496,000.

Other large investors have also recently modified their holdings of the company. Lakewood Capital Management LP bought a new position in shares of WEX in the second quarter worth $28,355,000. Legal & General Group Plc bought a new stake in WEX during the second quarter valued at $6,091,000. The Manufacturers Life Insurance Company purchased a new position in WEX during the second quarter worth about $3,480,000. Sone Capital Management LLC purchased a new position in WEX during the second quarter worth about $3,709,000. Finally, Algert Global LLC purchased a new stake in shares of WEX in the 2nd quarter valued at about $1,156,000. Hedge funds and other institutional investors own 97.47% of the company's stock.

WEX Stock Performance

Shares of WEX stock opened at $190.82 on Tuesday. The company has a market capitalization of $6.50 billion, a P/E ratio of 19.01, a PEG ratio of 1.03 and a beta of 0.82. WEX Inc. has a fifty-two week low of $125.29 and a fifty-two week high of $203.99. The company has a debt-to-equity ratio of 2.62, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day moving average price of $172.49 and a two-hundred day moving average price of $159.11.

WEX (NYSE:WEX - Get Free Report) last issued its earnings results 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. The firm had revenue of $753.50 million for the quarter, compared to analysts' expectations of $740.72 million. WEX had a net margin of 12.56% and a return on equity of 43.19%. The business's revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the business earned $3.95 earnings per share. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. Analysts expect that WEX Inc. will post 17.11 earnings per share for the current year.

WEX declared that its board has initiated a stock buyback plan on Thursday, May 14th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to repurchase up to 21.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

WEX has been the topic of a number of research reports. 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 report on Friday, July 24th. Deutsche Bank Aktiengesellschaft decreased 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. Cantor Fitzgerald set a $178.00 target price on WEX in a research report on Monday, July 27th. Morgan Stanley increased their price target on shares of WEX from $161.00 to $172.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Finally, Evercore raised shares of WEX to an "outperform" rating in a report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, WEX presently has a consensus rating of "Hold" and a consensus target price of $183.30.

Insider Activity

In related news, CAO Jennifer Kimball sold 1,183 shares of the business's stock in a transaction dated Monday, July 27th. The stock was 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 $867,919.80. The trade was a 19.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert Joseph Deshaies sold 1,000 shares of the company's 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 directly owned 19,288 shares of the company's stock, valued at $3,567,315.60. The trade was a 4.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 8,658 shares of company stock valued at $1,489,027. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source