9,900 Shares in WEX Inc. $WEX Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in WEX Inc. (NYSE:WEX) in the first quarter, Holdings Channel.com reports. The fund bought 9,900 shares of the business services provider’s stock, valued at approximately $1,515,000.

Several other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of WEX by 794.0% in the fourth quarter. AQR Capital Management LLC now owns 889,802 shares of the business services provider’s stock valued at $132,563,000 after buying an additional 790,271 shares during the period. Turtle Creek Asset Management Inc. bought a new position in WEX during the third quarter valued at about $93,289,000. Par Capital Management Inc. grew its holdings in WEX by 21.6% during the fourth quarter. Par Capital Management Inc. now owns 2,252,000 shares of the business services provider’s stock worth $335,503,000 after acquiring an additional 400,500 shares during the period. Norges Bank acquired a new position in WEX during the fourth quarter worth about $50,202,000. Finally, New South Capital Management Inc. raised its position in WEX by 627.0% in the fourth quarter. New South Capital Management Inc. now owns 268,023 shares of the business services provider’s stock worth $39,930,000 after acquiring an additional 231,158 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WEX shares. Loop Capital started coverage on shares of WEX in a research report on Monday, April 27th. They set a “buy” rating and a $195.00 price objective for the company. Weiss Ratings downgraded shares of WEX from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 24th. Robert W. Baird increased their target price on shares of WEX from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of WEX from $180.00 to $160.00 and set a “hold” rating for the company in a report on Friday, June 12th. Finally, Wall Street Zen lowered shares of WEX from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Four equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $172.30.

Insiders Place Their Bets

In other news, COO Joel Alan Dearborn, Jr. sold 3,500 shares of WEX stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $175.00, for a total value of $612,500.00. Following the transaction, the chief operating officer directly owned 22,872 shares of the company’s stock, valued at $4,002,600. This trade represents a 13.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Robert Joseph Deshaies sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $144.84, for a total transaction of $173,808.00. Following the sale, the chief operating officer owned 22,288 shares in the company, valued at $3,228,193.92. This represents a 5.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.40% of the company’s stock.

WEX Trading Up 2.7%

Shares of NYSE WEX opened at $146.40 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.83. WEX Inc. has a 12 month low of $125.29 and a 12 month high of $186.85. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 0.88 and a beta of 0.85. The business has a fifty day simple moving average of $142.82 and a 200-day simple moving average of $151.92.

WEX (NYSE:WEX) last issued its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.23. The firm had revenue of $673.80 million for the quarter, compared to analysts’ expectations of $660.96 million. WEX had a return on equity of 42.66% and a net margin of 11.50%.WEX’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $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. Sell-side analysts predict that WEX Inc. will post 16.77 EPS for the current year.

WEX announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 14th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 21.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

WEX Company 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.