Wageworks Inc (NYSE:WAGE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a 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. “

Other analysts also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $74.00 price target (up from $65.00) on shares of Wageworks in a report on Thursday, November 10th. JMP Securities restated a “buy” rating on shares of Wageworks in a report on Wednesday, August 31st. Finally, William Blair restated an “outperform” rating and issued a $67.20 target price on shares of Wageworks in a report on Thursday, November 10th. Eight equities research analysts have rated the stock with a buy rating, Wageworks has an average rating of “Buy” and an average price target of $69.60.

Analyst Recommendations for Wageworks (NYSE:WAGE)

Wageworks (NYSE:WAGE) opened at 72.80 on Tuesday. The company has a 50-day moving average of $61.73 and a 200-day moving average of $60.03. Wageworks has a 1-year low of $38.99 and a 1-year high of $75.28. The company has a market capitalization of $2.67 billion, a P/E ratio of 130.00 and a beta of 0.95.

Wageworks (NYSE:WAGE) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $88.90 million for the quarter. Wageworks had a net margin of 5.98% and a return on equity of 9.09%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Equities analysts expect that Wageworks will post $1.38 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Credit Suisse AG boosted its position in Wageworks by 59.7% in the third quarter. Credit Suisse AG now owns 60,437 shares of the company’s stock worth $3,680,000 after buying an additional 22,595 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in Wageworks by 25.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 200,809 shares of the company’s stock worth $12,232,000 after buying an additional 40,539 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Wageworks during the third quarter worth approximately $1,498,000. KCG Holdings Inc. purchased a new position in Wageworks during the third quarter worth approximately $701,000. Finally, Stephens Investment Management Group LLC boosted its position in Wageworks by 0.7% in the third quarter. Stephens Investment Management Group LLC now owns 828,196 shares of the company’s stock worth $50,445,000 after buying an additional 5,765 shares in the last quarter.

About Wageworks

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.

5 Day Chart for NYSE:WAGE

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