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WEX Appoints Global Payments Veteran Susan Sobbott to Board

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WEX Inc (WEX - Free Report) yesterday announced the appointment of Susan Sobbott to its board of directors.

Sobbott has 25 years of experience in the global payments space. Previously, she was the president of Global Commercial Services at American Express. She has played a major role in converting the company’s multibillion-dollar B2B global payment solutions business in to one of its largest and most promising segment.

According to Michael Dubyak, chairman at WEX, “Susan has deep domain expertise and a remarkable track record of growth in the corporate payments space.”

We observe that the company’s shares have declined 4.5% in the past year compared with the 6.5% rise of the industry it belongs to.

Our Take

WEX seeks to utilze Sobbott’s knowledge of technology, customer and global leadership in business-to-business payments to boost growth in opportune areas. We believe that Sobbott’s contribution in WEX will help strengthen the Travel and Corporate Solutions segment that targets the business-to-business payments space and provides customers with payment processing solutions for their corporate payment and transaction monitoring needs.

The segment performed well in the last reported quarter with revenues increasing 35.7% on a year-over-year basis.

Zacks Rank and Stocks to Consider

Currently, WEX carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

A few better-ranked stocks in the broader Zacks Business Services sector are Interpublic (IPG - Free Report) , Automatic Data Processing (ADP - Free Report) and Navigant Consulting (NCI - Free Report) , each carrying a Zacks Rank #2 (buy). Long-term expected EPS (three to five years) growth rate for Interpublic, Automatic Data Processing and Navigant is 7.5%, 12.5% and 13.5%, respectively.

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