WEX Inc. $WEX Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al increased its WEX stake by 143.6% in the fourth quarter, and institutional investors now own 97.47% of the company’s shares.
• WEX reported better-than-expected quarterly results, with EPS of $4.15 versus $3.92 expected and revenue of $673.8 million, while also issuing FY 2026 guidance of $18.95 to $19.55 EPS.
• The board approved a $1.0 billion share buyback program, allowing repurchases of up to 21.2% of outstanding stock; meanwhile, analysts currently rate the stock a Hold on average.

VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 143.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,019 shares of the business services provider's stock after purchasing an additional 11,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.06% of WEX worth $2,982,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in WEX by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider's stock worth $471,000 after purchasing an additional 60 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in WEX by 0.7% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 9,615 shares of the business services provider's stock worth $1,515,000 after purchasing an additional 70 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in WEX by 3.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,558 shares of the business services provider's stock worth $403,000 after purchasing an additional 74 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in WEX by 1.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,985 shares of the business services provider's stock worth $785,000 after purchasing an additional 94 shares during the last quarter. Finally, First Horizon Corp boosted its stake in WEX by 65.7% during the 4th quarter. First Horizon Corp now owns 237 shares of the business services provider's stock worth $35,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company's stock.

WEX Stock Down 1.2%

Shares of WEX opened at $134.17 on Friday. The firm has a market cap of $4.65 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 0.85 and a beta of 0.87. WEX Inc. has a 12-month low of $128.91 and a 12-month high of $186.85. The company's 50-day moving average price is $156.38 and its 200 day moving average price is $153.71. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 2.83.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.23. The firm had revenue of $673.80 million for the quarter, compared to analyst estimates of $660.96 million. WEX had a net margin of 11.50% and a return on equity of 42.66%. WEX's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.51 EPS. WEX has set its FY 2026 guidance at 18.950-19.550 EPS and its Q2 2026 guidance at 4.930-5.130 EPS. On average, sell-side analysts forecast that WEX Inc. will post 16.34 earnings per share for the current year.

WEX announced that its Board of Directors has initiated a share buyback program 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 stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WEX. JPMorgan Chase & Co. lowered their price target on shares of WEX from $175.00 to $155.00 and set a "neutral" rating on the stock in a research report on Friday, February 6th. Weiss Ratings reissued a "hold (c)" rating on shares of WEX in a research report on Monday, April 20th. Mizuho lowered their price target on shares of WEX from $180.00 to $170.00 and set an "outperform" rating on the stock in a research report on Friday, February 6th. Loop Capital began coverage on shares of WEX in a research report on Monday, April 27th. They set a "buy" rating and a $195.00 price target on the stock. Finally, Robert W. Baird boosted their price target on shares of WEX from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $169.27.

Insider Activity at WEX

In other WEX news, insider Sara Trickett sold 1,815 shares of the business's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $149.95, for a total transaction of $272,159.25. Following the sale, the insider directly owned 2,137 shares in the company, valued at $320,443.15. This represents a 45.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer Kimball sold 715 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $157.82, for a total transaction of $112,841.30. Following the sale, the chief accounting officer owned 6,203 shares in the company, valued at $978,957.46. This trade represents a 10.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 14,447 shares of company stock valued at $2,283,602. 1.40% of the stock is owned by company insiders.

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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