WageWorks, Inc. (WAGE) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of WageWorks, Inc. (NYSE:WAGE) from a sell rating to a hold rating in a research note published on Thursday morning.
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 have also issued reports about the stock. Stifel Nicolaus reaffirmed a buy rating and set a $85.00 price objective on shares of WageWorks in a research note on Monday, July 17th. BidaskClub raised shares of WageWorks from a strong sell rating to a sell rating in a research note on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. WageWorks currently has a consensus rating of Hold and a consensus target price of $80.30.
WageWorks (NYSE:WAGE) remained flat at $62.95 during trading on Thursday. 175,044 shares of the company traded hands. The firm has a 50-day moving average of $59.26 and a 200-day moving average of $66.51. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 57.49 and a beta of 0.84. WageWorks has a 12 month low of $55.65 and a 12 month high of $80.50.
WageWorks (NYSE:WAGE) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.11). WageWorks had a net margin of 9.60% and a return on equity of 9.52%. The firm had revenue of $119.90 million for the quarter, compared to analysts’ expectations of $119.18 million. During the same period in the prior year, the company posted $0.36 earnings per share. WageWorks’s quarterly revenue was up 36.7% compared to the same quarter last year. Analysts expect that WageWorks will post $1.75 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of WAGE. First Trust Advisors LP lifted its position in shares of WageWorks by 30.4% in the first quarter. First Trust Advisors LP now owns 31,167 shares of the business services provider’s stock worth $2,253,000 after purchasing an additional 7,275 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of WageWorks in the first quarter worth approximately $695,000. Mason Street Advisors LLC lifted its position in shares of WageWorks by 8.0% in the first quarter. Mason Street Advisors LLC now owns 8,644 shares of the business services provider’s stock worth $625,000 after purchasing an additional 637 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of WageWorks by 3.0% in the first quarter. Prudential Financial Inc. now owns 63,980 shares of the business services provider’s stock worth $4,626,000 after purchasing an additional 1,840 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of WageWorks by 12.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,350 shares of the business services provider’s stock worth $676,000 after purchasing an additional 1,045 shares in the last quarter.
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 (COBRA) and other employee benefits.
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