WageWorks Inc. (NYSE:WAGE) Receives $65.50 Consensus Target Price from Brokerages
Shares of WageWorks Inc. (NYSE:WAGE) have received a consensus rating of “Buy” from the nine research firms that are presently covering the firm. One analyst has rated the stock with a sell rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $65.50.
Several equities research analysts have issued reports on WAGE shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $69.00 target price (up previously from $59.00) on shares of WageWorks in a research note on Thursday, June 9th. Standpoint Research lifted their target price on shares of WageWorks from $59.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, June 9th. JMP Securities reaffirmed a “buy” rating on shares of WageWorks in a research note on Saturday, July 9th. Zacks Investment Research cut shares of WageWorks from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price (up previously from $60.00) on shares of WageWorks in a research note on Thursday, August 11th.
Shares of WageWorks (NYSE:WAGE) opened at 60.17 on Tuesday. The stock has a market cap of $2.20 billion, a P/E ratio of 98.64 and a beta of 0.91. WageWorks has a 1-year low of $38.99 and a 1-year high of $65.43. The company’s 50-day moving average is $61.83 and its 200-day moving average is $57.33.
WageWorks (NYSE:WAGE) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. WageWorks had a net margin of 6.58% and a return on equity of 10.39%. The firm had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $87.42 million. During the same quarter last year, the company earned $0.28 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts expect that WageWorks will post $1.40 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Columbia Wanger Asset Management LLC bought a new position in WageWorks during the second quarter valued at approximately $60,595,000. Lord Abbett & CO. LLC raised its stake in shares of WageWorks by 75.7% in the second quarter. Lord Abbett & CO. LLC now owns 948,642 shares of the company’s stock valued at $56,738,000 after buying an additional 408,754 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of WageWorks during the second quarter valued at about $24,311,000. Loomis Sayles & Co. L P bought a new stake in shares of WageWorks during the first quarter valued at about $20,313,000. Finally, Norges Bank bought a new stake in shares of WageWorks during the fourth quarter valued at about $9,646,000.
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.
Receive News & Stock Ratings for WageWorks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WageWorks Inc. and related stocks with our FREE daily email newsletter.