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

Key Points

• Public Employees Retirement System of Ohio acquired 42,395 WEX shares worth approximately $5.98 million, while institutional investors collectively owned 97.47% of the company at quarter-end.
• WEX beat quarterly expectations with adjusted EPS of $5.35 versus the $5.08 consensus and revenue of $753.5 million, up 14.2% year over year. The company issued third-quarter and full-year 2026 earnings guidance.
• WEX shares opened at $193.21, near their 52-week high, while analysts maintained a consensus “Hold” rating with an average price target of $183.30. The company also authorized a $1 billion share-repurchase program.

Public Employees Retirement System of Ohio acquired a new position in WEX Inc. (NYSE:WEX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 42,395 shares of the business services provider's stock, valued at approximately $5,982,000. Public Employees Retirement System of Ohio owned about 0.12% of WEX at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WEX. Corient Private Wealth LP bought a new position in WEX in the second quarter worth approximately $3,795,000. Bank of America Corp DE purchased a new position in shares of WEX during the 2nd quarter worth $115,086,000. Jupiter Topco LLC bought a new stake in shares of WEX during the 2nd quarter valued at $559,710,000. Hsbc Holdings PLC purchased a new stake in shares of WEX in the 2nd quarter worth $5,038,000. Finally, Primecap Management Co. CA purchased a new stake in shares of WEX in the 2nd quarter worth $7,712,000. 97.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Carlos Carriedo sold 1,075 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $186.00, for a total value of $199,950.00. Following the transaction, the chief operating officer directly owned 11,076 shares of the company's stock, valued at approximately $2,060,136. The trade was a 8.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert Joseph Deshaies sold 2,000 shares of the company's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $148.40, for a total value of $296,800.00. Following the completion of the transaction, the chief operating officer owned 20,288 shares of the company's stock, valued at $3,010,739.20. The trade was a 8.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 8,658 shares of company stock worth $1,489,027. 1.40% of the stock is currently owned by insiders.

WEX Stock Up 2.4%

WEX opened at $193.21 on Thursday. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 0.98 and a beta of 0.83. 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 firm's fifty day moving average is $174.85 and its 200 day moving average is $159.56. WEX Inc. has a fifty-two week low of $125.29 and a fifty-two week high of $203.99.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly 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 business 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%.WEX's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior 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, sell-side analysts forecast that WEX Inc. will post 17.11 earnings per share for the current fiscal year.

WEX declared that its board has approved a stock repurchase program on Thursday, May 14th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to repurchase up to 21.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

WEX has been the topic of several analyst reports. Cantor Fitzgerald set a $178.00 target price on WEX in a research report on Monday, July 27th. 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. 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 research note on Friday, June 12th. Wall Street Zen cut WEX from a "buy" rating to a "hold" rating in a research report on Sunday, May 24th. Finally, Morgan Stanley boosted their price objective 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 equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $183.30.

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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