WageWorks, Inc. (WAGE) Given Average Rating of “Hold” by Brokerages
WageWorks, Inc. (NYSE:WAGE) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $79.75.
A number of research analysts recently commented on WAGE shares. Needham & Company LLC reiterated a “buy” rating and set a $82.00 price objective on shares of WageWorks in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of WageWorks from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price objective (down previously from $85.00) on shares of WageWorks in a research note on Thursday, November 9th. Finally, BidaskClub lowered shares of WageWorks from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 9th.
In related news, insider Kimberly L. Wilford sold 50,000 shares of WageWorks stock in a transaction on Monday, November 13th. The shares were sold at an average price of $62.13, for a total value of $3,106,500.00. Following the transaction, the insider now owns 93,238 shares in the company, valued at approximately $5,792,876.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.54% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP boosted its position in shares of WageWorks by 163.0% during the 3rd quarter. GSA Capital Partners LLP now owns 11,199 shares of the business services provider’s stock valued at $680,000 after acquiring an additional 6,941 shares in the last quarter. Sterling Capital Management LLC acquired a new stake in shares of WageWorks during the 3rd quarter valued at about $575,000. DF Dent & Co. Inc. boosted its position in shares of WageWorks by 10.8% during the 3rd quarter. DF Dent & Co. Inc. now owns 1,690,718 shares of the business services provider’s stock valued at $102,627,000 after acquiring an additional 165,179 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of WageWorks by 6.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 426,395 shares of the business services provider’s stock valued at $25,882,000 after acquiring an additional 27,118 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of WageWorks by 5.2% during the 3rd quarter. California Public Employees Retirement System now owns 60,690 shares of the business services provider’s stock valued at $3,684,000 after acquiring an additional 2,990 shares in the last quarter.
Shares of WageWorks (NYSE:WAGE) traded down $1.55 during trading hours on Monday, hitting $60.65. 431,000 shares of the company’s stock traded hands, compared to its average volume of 293,269. WageWorks has a 12 month low of $56.90 and a 12 month high of $80.50. The firm has a market capitalization of $2,403.96, a price-to-earnings ratio of 48.52, a P/E/G ratio of 3.24 and a beta of 0.92. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.41.
WageWorks (NYSE:WAGE) last posted its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.04. WageWorks had a net margin of 9.87% and a return on equity of 9.60%. The business had revenue of $115.70 million for the quarter, compared to analyst estimates of $117.09 million. During the same quarter last year, the business earned $0.34 earnings per share. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. sell-side analysts anticipate that WageWorks will post 1.25 EPS for the current fiscal year.
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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