Barclays analyst Ramsey El Assal maintained a Buy rating on WEX (WEX – Research Report) today and set a price target of $280.00. The company’s shares closed yesterday at $215.03.
According to TipRanks, El Assal is a 3-star analyst with an average return of 1.7% and a 54.12% success rate. El Assal covers the Technology sector, focusing on stocks such as Fiserv, Fidelity National Info, and WEX.
In addition to Barclays, WEX also received a Buy from KBW’s Sanjay Sakhrani in a report issued yesterday. However, on April 23, Morgan Stanley maintained a Hold rating on WEX (NYSE: WEX).
WEX market cap is currently $9.77B and has a P/E ratio of 37.97.
Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WEX in relation to earlier this year. Most recently, in February 2024, Ann Elena Drew, the Chief Risk and Compliance of WEX sold 4,531.00 shares for a total of $987,893.93.
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WEX (WEX) Company Description:
WEX, Inc. engages in the provision of payment processing and information management solutions. It operates through the following segments: Fleet Solutions; Travel and Corporate Solutions; and Health and Employee Benefit Solutions. The Flight Solutions segment provides payment and transaction processing services for the needs of commercial and government fleets. The Travel and Corporate Solutions segment focuses on the payment environment of business-to-business payments, providing customers with payment processing solutions for their corporate payment, and transaction monitoring needs. The Health and Employee Benefit Solutions segment involves healthcare payment products and SaaS consumer directed platforms, as well as payroll related benefits to customers. The company was founded by Parker Poole III and William Richardson in 1983 and is headquartered in Portland, ME.
