WageWorks Upgraded to Outperform at Zacks (WAGE)
WageWorks (NASDAQ:WAGE) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Wednesday, American Banking & Market News reports. The firm currently has a $55.50 price objective on the stock. Zacks‘ price objective points to a potential upside of 8.19% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at JMP Securities raised their price target on shares of WageWorks (NASDAQ:WAGE) from $29.00 to $40.00 in a research note to investors on Thursday, August 8th. They now have a “market outperform” rating on the stock. Analysts at Needham & Company raised their price target on shares of WageWorks (NASDAQ:WAGE) from $30.00 to $40.00 in a research note to investors on Thursday, August 8th. They now have a “buy” rating on the stock.
WageWorks (NASDAQ:WAGE) traded down 2.38% during mid-day trading on Wednesday, hitting $50.08. The stock had a trading volume of 300,318 shares. WageWorks has a 52 week low of $17.01 and a 52 week high of $56.97. The stock has a 50-day moving average of $46.89 and a 200-day moving average of $34.25. The company has a market cap of $1.694 billion and a price-to-earnings ratio of 115.80.
WageWorks (NASDAQ:WAGE) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.03. The company had revenue of $54.56 million for the quarter, compared to the consensus estimate of $52.43 million. The company’s quarterly revenue was up 24.6% on a year-over-year basis. Analysts expect that WageWorks will post $0.74 EPS for the current fiscal year.
In other WageWorks news, Insider Richard Berkeley purchased 37,500 shares of the stock on the open market in a transaction dated Thursday, September 19th. The shares were purchased at an average cost of $7.01 per share, with a total value of $262,875.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
WageWorks, Inc is an on-demand provider of tax-advantaged programs for consumer-directed health, commuter and other employee spending account benefits (NASDAQ:WAGE), in the United States.
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