WEX (WEX) Receives a Hold from Raymond James


Raymond James analyst John Davis maintained a Hold rating on WEX (WEX) yesterday. The company’s shares closed last Wednesday at $230.00, close to its 52-week high of $234.64.

According to TipRanks.com, Davis is a 5-star analyst with an average return of 18.2% and a 74.2% success rate. Davis covers the Technology sector, focusing on stocks such as Bottomline Technologies, Jack Henry & Associates, and Fidelity National Info.

Currently, the analyst consensus on WEX is a Moderate Buy with an average price target of $226.13, which is a -0.5% downside from current levels. In a report released today, Wolfe Research also downgraded the stock to Hold.

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The company has a one-year high of $234.64 and a one-year low of $71.12. Currently, WEX has an average volume of 322.5K.

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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.

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