WageWorks Inc. (WAGE) Raised to Hold at Zacks Investment Research
WageWorks Inc. (NYSE:WAGE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “WageWorks, Inc. is an on-demand provider of tax-advantaged programs for consumer-directed health, commuter and other employee spending account benefits, or CDBs, in the United States. The Company administers and operates an array of CDBs, including spending account management programs, such as health and dependent care flexible spending accounts, health savings accounts, health reimbursement arrangements and commuter benefits, such as transit and parking programs. The Company delivers its CDB programs through a benefits-as-a-service delivery model. WageWorks, Inc. is headquartered in San Mateo, California. “
WAGE has been the topic of several other research reports. JMP Securities reaffirmed a “buy” rating on shares of WageWorks in a report on Wednesday, August 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target (up previously from $60.00) on shares of WageWorks in a report on Thursday, August 11th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. WageWorks has a consensus rating of “Buy” and a consensus price target of $64.14.
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WageWorks (NYSE:WAGE) traded up 1.16% during trading on Wednesday, hitting $61.05. 224,141 shares of the company traded hands. The stock has a market capitalization of $2.23 billion, a PE ratio of 100.08 and a beta of 0.92. The company’s 50 day moving average is $61.99 and its 200-day moving average is $58.14. WageWorks has a 52 week low of $38.99 and a 52 week high of $65.43.
WageWorks (NYSE:WAGE) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $87.70 million for the quarter, compared to the consensus estimate of $87.42 million. WageWorks had a net margin of 6.58% and a return on equity of 10.39%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share. Analysts predict that WageWorks will post $1.40 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in WAGE. BlackRock Group LTD boosted its stake in shares of WageWorks by 22.3% in the first quarter. BlackRock Group LTD now owns 47,123 shares of the company’s stock valued at $2,385,000 after buying an additional 8,580 shares in the last quarter. GW&K Investment Management LLC boosted its stake in shares of WageWorks by 16.1% in the second quarter. GW&K Investment Management LLC now owns 376,979 shares of the company’s stock valued at $22,547,000 after buying an additional 52,358 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of WageWorks during the first quarter valued at $237,000. JPMorgan Chase & Co. boosted its stake in shares of WageWorks by 81.7% in the first quarter. JPMorgan Chase & Co. now owns 106,183 shares of the company’s stock valued at $5,374,000 after buying an additional 47,730 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its stake in shares of WageWorks by 1.0% in the second quarter. Suntrust Banks Inc. now owns 7,754 shares of the company’s stock valued at $462,000 after buying an additional 76 shares in the last quarter.
WageWorks Company Profile
WageWorks, Inc is engaged in administering Consumer-Directed Benefits (CDBs). The Company administers CBDs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, Consolidated Omnibus Budget Reconciliation Act and other employee benefits.
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