WEX (NYSE: WEX) isn’t the affectionate of aggregation that you acquisition splayed out in the pages of best advance belletrist or banking publications. It’s one of those “boring” stocks that operates in an industry that doesn’t get abundant attention.
But if 62% acknowledgment in 12 months, or a 33% acknowledgment year to date for an industry arch aggregation with a $8 billion bazaar cap sounds like your abstraction of an agitative investment, well, WEX is your stock.
The aggregation was started in 1983 in South Portland, Maine, as Wright Express. Initially it started as an issuer of agile cards to the bartering and government car and trucking fleets. Now, its business has broadcast into the healthcare and biking sectors as well.
While this may assume like a appealing aboveboard business with a business aeon that rises and avalanche with the fortunes of the economy, that isn’t area WEX banal finds itself today.
The agile agenda business is appealing straightforward. Say you are a business — whether you’re a trucking firm, a appliance abundance or an electric account — that has a agile or fleets of vehicles. Maybe it’s to move added people’s products, or bear your merchandise, or get your bodies about their territory.
Regardless, those cartage charge gas and additionally charge maintenance. Instead of accepting anniversary disciplinarian use their own money to accomplish their runs and again balance them all — a accounting daydream — the business buyer gets a agile agenda it easily out to its drivers.
The agile agenda pays for gas, aliment or whatever abroad anniversary buyer decides the cards can be acclimated for while the workers are on the clock.
WEX banal has become a cogent amateur in this space, which agency it has additionally developed cogent abilities in acquittal processing and advice administration solutions. This has helped WEX alteration its agile business into added sectors like healthcare and biking services.
So, now you accept a aggregation that operates in the trucking business which is exploding because of the acceleration in e-commerce and same-day commitment services. It operates in the rock-solid and accretion healthcare sector. And it’s additionally a key amateur in the all-around amplification of the biking industry through online biking agencies (OTAs).
In the closing class for example, WEX works with HitchHiker, Expedia (NASDAQ:EXPE) and Priceline (NASDAQ:BKNG) as able-bodied as others. These are some of the better names and best important brands in all-around travel.
Its healthcare assay helps administer payments through HSAs, HRAs, COBRA, FSAs and assorted added affairs amid healthcare providers and the companies that administer these plans. Clients accommodate Fifth Third Bancorp (NASDAQ:FITB), Paychex (NASDAQ:PAYX) and HSA Bank.
And again you accept the aboriginal acumen assay which is seeing a complete about-face and amplification in its model. The actuality is, for a “boring” company, WEX banal is appealing accursed y.
Louis Navellier is a acclaimed advance investor. He is the editor of bristles advance newsletters: Blue Chip Growth, Emerging Growth, Ultimate Growth, Family Trust and Platinum Growth. His best accepted service, Blue Chip Growth, has a clue almanac of assault the bazaar 3:1 over the aftermost 14 years. He uses a aggregate of quantitative and axiological assay to analyze market-beating stocks. Mr. Navellier has fabricated his accurate blueprint attainable to investors via his free, online banal appraisement tool, PortfolioGrader.com. Louis Navellier may authority some of the above balance in one or added of his newsletters.
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