WageWorks, Inc. (WAGE) Given Average Recommendation of “Hold” by Analysts
Shares of WageWorks, Inc. (NYSE:WAGE) have been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $84.67.
Several research firms have issued reports on WAGE. Zacks Investment Research cut shares of WageWorks from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 7th. BidaskClub cut shares of WageWorks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 14th. Stifel Nicolaus restated a “buy” rating and set a $85.00 target price on shares of WageWorks in a research note on Monday, July 17th. Finally, TheStreet upgraded shares of WageWorks from a “c+” rating to a “b” rating in a research note on Friday, May 5th.
Shares of WageWorks (NYSE:WAGE) traded up 0.09% on Friday, reaching $57.55. 271,745 shares of the company traded hands. The stock has a market capitalization of $2.28 billion, a P/E ratio of 52.56 and a beta of 0.86. WageWorks has a one year low of $55.65 and a one year high of $80.50. The stock’s 50 day moving average price is $64.14 and its 200-day moving average price is $70.73.
WageWorks (NYSE:WAGE) last posted its earnings results on Tuesday, August 1st. The business services provider reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.11. The company had revenue of $119.90 million for the quarter, compared to the consensus estimate of $119.18 million. WageWorks had a net margin of 9.60% and a return on equity of 9.52%. WageWorks’s revenue was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. Equities analysts forecast that WageWorks will post $1.75 earnings per share for the current fiscal year.
In other news, COO Edgar O. Montes sold 50,000 shares of the company’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $69.25, for a total transaction of $3,462,500.00. Following the completion of the sale, the chief operating officer now owns 71,895 shares of the company’s stock, valued at approximately $4,978,728.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph L. Jackson sold 495,148 shares of the company’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $69.25, for a total transaction of $34,288,999.00. Following the sale, the chief executive officer now directly owns 103,363 shares of the company’s stock, valued at approximately $7,157,887.75. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. US Bancorp DE raised its stake in WageWorks by 14.2% in the first quarter. US Bancorp DE now owns 7,955 shares of the business services provider’s stock valued at $574,000 after buying an additional 992 shares during the last quarter. First Trust Advisors LP raised its stake in WageWorks by 30.4% in the first quarter. First Trust Advisors LP now owns 31,167 shares of the business services provider’s stock valued at $2,253,000 after buying an additional 7,275 shares during the last quarter. Shaker Investments LLC OH acquired a new stake in WageWorks during the first quarter valued at approximately $723,000. Great West Life Assurance Co. Can raised its stake in WageWorks by 7.1% in the first quarter. Great West Life Assurance Co. Can now owns 52,417 shares of the business services provider’s stock valued at $3,786,000 after buying an additional 3,459 shares during the last quarter. Finally, Geneva Advisors LLC raised its stake in WageWorks by 6.1% in the first quarter. Geneva Advisors LLC now owns 23,771 shares of the business services provider’s stock valued at $1,719,000 after buying an additional 1,364 shares during the last quarter. 96.28% of the stock is owned by hedge funds and other institutional investors.
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 (COBRA) and other employee benefits.
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