WEX (WEX) Receives a Rating Update from a Top Analyst

Oppenheimer analyst Glenn Greene maintained a Buy rating on WEX (WEXResearch Report) today and set a price target of $247.00. The company’s shares closed last Monday at $228.23, close to its 52-week high of $234.95.

According to TipRanks.com, Greene is a top 25 analyst with an average return of 23.0% and a 86.7% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Global Payments.

Currently, the analyst consensus on WEX is a Moderate Buy with an average price target of $241.50.

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Based on WEX’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $14.62 million. In comparison, last year the company had a net profit of $21.26 million.

Based on the recent corporate insider activity of 58 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. Last month, Melissa Goodwin, the CEO and President, WEX Inc. of WEX sold 16,006 shares for a total of $3,441,130.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.