WageWorks, Inc. (WAGE) Upgraded to Hold by Zacks Investment Research
WageWorks, Inc. (NYSE:WAGE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Several other research analysts have also recently commented on WAGE. Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 price target on shares of WageWorks in a research note on Monday, July 17th. BidaskClub upgraded WageWorks from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $82.00 price target on shares of WageWorks in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. WageWorks currently has an average rating of “Hold” and a consensus target price of $83.00.
WageWorks (WAGE) traded up $0.80 during trading hours on Tuesday, hitting $62.30. The company had a trading volume of 423,100 shares, compared to its average volume of 292,478. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.38 and a current ratio of 1.38. WageWorks has a fifty-two week low of $56.90 and a fifty-two week high of $80.50. The firm has a market capitalization of $2,437.65, a PE ratio of 49.20, a price-to-earnings-growth ratio of 3.40 and a beta of 0.92.
WageWorks (NYSE:WAGE) last released its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. WageWorks had a return on equity of 9.60% and a net margin of 9.87%. The business had revenue of $115.70 million for the quarter, compared to analysts’ expectations of $117.09 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The company’s revenue was up 30.1% compared to the same quarter last year. equities research analysts expect that WageWorks will post 1.21 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of WAGE. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in WageWorks by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the business services provider’s stock worth $107,000 after buying an additional 139 shares in the last quarter. Advisor Group Inc. lifted its position in WageWorks by 10.8% in the second quarter. Advisor Group Inc. now owns 1,594 shares of the business services provider’s stock worth $107,000 after purchasing an additional 156 shares during the period. First Mercantile Trust Co. lifted its position in WageWorks by 20.7% in the second quarter. First Mercantile Trust Co. now owns 1,925 shares of the business services provider’s stock worth $129,000 after purchasing an additional 330 shares during the period. Riverhead Capital Management LLC lifted its position in WageWorks by 85.3% in the second quarter. Riverhead Capital Management LLC now owns 2,964 shares of the business services provider’s stock worth $199,000 after purchasing an additional 1,364 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its position in WageWorks by 3.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,275 shares of the business services provider’s stock worth $220,000 after purchasing an additional 122 shares during the period.
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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