Equities research analysts expect that WageWorks, Inc. (NYSE:WAGE) will announce $117.11 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for WageWorks’ earnings, with the lowest sales estimate coming in at $116.20 million and the highest estimate coming in at $117.48 million. WageWorks reported sales of $88.92 million in the same quarter last year, which indicates a positive year-over-year growth rate of 31.7%. The company is expected to issue its next earnings results on Wednesday, November 8th.

On average, analysts expect that WageWorks will report full year sales of $117.11 million for the current fiscal year, with estimates ranging from $481.00 million to $483.87 million. For the next year, analysts forecast that the company will report sales of $525.33 million per share, with estimates ranging from $503.93 million to $531.37 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow WageWorks.

WageWorks (NYSE:WAGE) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.11). The firm had revenue of $119.90 million for the quarter, compared to the consensus estimate of $119.18 million. WageWorks had a return on equity of 9.52% and a net margin of 9.60%. The company’s revenue for the quarter was up 36.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share.

Several research analysts recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and set a $85.00 target price on shares of WageWorks in a research note on Monday, July 17th. Zacks Investment Research lowered shares of WageWorks from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. Finally, BidaskClub lowered shares of WageWorks from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $80.04.

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In related news, COO Edgar O. Montes sold 50,000 shares of WageWorks stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $69.25, for a total value of $3,462,500.00. Following the transaction, the chief operating officer now directly owns 71,895 shares of the company’s stock, valued at $4,978,728.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joseph L. Jackson sold 495,148 shares of WageWorks stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $69.25, for a total transaction of $34,288,999.00. Following the completion of the transaction, the chief executive officer now directly owns 103,363 shares in the company, valued at $7,157,887.75. The disclosure for this sale can be found here. Insiders own 3.54% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in WageWorks by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 139 shares during the period. Advisor Group Inc. grew its position in shares of WageWorks by 10.8% in the 2nd quarter. Advisor Group Inc. now owns 1,594 shares of the business services provider’s stock worth $107,000 after buying an additional 156 shares during the period. Victory Capital Management Inc. grew its position in shares of WageWorks by 8.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,819 shares of the business services provider’s stock worth $132,000 after buying an additional 134 shares during the period. First Mercantile Trust Co. grew its position in shares of WageWorks by 20.7% in the 2nd quarter. First Mercantile Trust Co. now owns 1,925 shares of the business services provider’s stock worth $129,000 after buying an additional 330 shares during the period. Finally, LS Investment Advisors LLC grew its position in shares of WageWorks by 86.1% in the 1st quarter. LS Investment Advisors LLC now owns 2,637 shares of the business services provider’s stock worth $191,000 after buying an additional 1,220 shares during the period.

Shares of WageWorks (NYSE:WAGE) opened at 58.05 on Friday. WageWorks has a 52-week low of $55.65 and a 52-week high of $80.50. The company has a market capitalization of $2.30 billion, a PE ratio of 53.01 and a beta of 0.84. The company has a 50-day moving average of $59.18 and a 200 day moving average of $68.36.

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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