WageWorks’ (WAGE) Outperform Rating Reaffirmed at William Blair
WageWorks Inc. (NYSE:WAGE)‘s stock had its “outperform” rating restated by research analysts at William Blair in a research report issued to clients and investors on Thursday. They presently have a $67.20 price target on the stock.
WAGE has been the subject of a number of other research reports. Zacks Investment Research lowered shares of WageWorks from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 13th. JMP Securities restated a “buy” rating on shares of WageWorks in a research report on Wednesday, August 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $65.00 target price (up previously from $60.00) on shares of WageWorks in a research report on Thursday, August 11th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. WageWorks has a consensus rating of “Buy” and an average price target of $65.31.
WageWorks (NYSE:WAGE) opened at 67.20 on Thursday. WageWorks has a 52-week low of $38.99 and a 52-week high of $67.95. The firm has a 50 day moving average of $60.38 and a 200-day moving average of $59.37. The stock has a market cap of $2.46 billion, a PE ratio of 110.16 and a beta of 0.95.
WageWorks (NYSE:WAGE) last issued its earnings results on Wednesday, November 9th. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. WageWorks had a net margin of 6.58% and a return on equity of 10.39%. The firm earned $88.90 million during the quarter. During the same quarter in the prior year, the company posted $0.36 EPS. WageWorks’s revenue was up 6.9% compared to the same quarter last year. Equities analysts anticipate that WageWorks will post $1.40 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Columbia Wanger Asset Management LLC bought a new position in WageWorks during the second quarter valued at approximately $60,595,000. Riverbridge Partners LLC bought a new position in WageWorks during the third quarter valued at approximately $26,706,000. Lord Abbett & CO. LLC increased its position in 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 in the last quarter. Emerald Acquisition Ltd. bought a new position in WageWorks during the second quarter valued at approximately $24,311,000. Finally, BlackRock Fund Advisors increased its position in WageWorks by 8.5% in the third quarter. BlackRock Fund Advisors now owns 2,538,128 shares of the company’s stock valued at $154,597,000 after buying an additional 199,060 shares in the last quarter.
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.
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