Zacks Investment Research downgraded shares of WageWorks (NYSE:WAGE) from a strong-buy rating to a hold rating in a research report released on Saturday.

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. “

WAGE has been the topic of several other research reports. BidaskClub raised shares of WageWorks from a strong sell rating to a sell rating in a report on Thursday, September 28th. ValuEngine raised shares of WageWorks from a sell rating to a hold rating in a report on Friday, December 1st. Needham & Company LLC reaffirmed a buy rating and set a $82.00 price target on shares of WageWorks in a report on Friday, October 6th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $80.00 price target (down previously from $85.00) on shares of WageWorks in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $79.75.

WageWorks (NYSE WAGE) opened at $62.25 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.41. The stock has a market cap of $2,470.00, a P/E ratio of 53.21, a P/E/G ratio of 2.74 and a beta of 0.90. WageWorks has a 1-year low of $56.90 and a 1-year high of $80.50.

WageWorks (NYSE:WAGE) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.45 earnings per share for the quarter, beating the 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 the consensus estimate of $117.09 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. analysts expect that WageWorks will post 1.25 EPS for the current year.

In other news, Director John William Larson sold 30,500 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $63.76, for a total value of $1,944,680.00. Following the transaction, the director now owns 42,930 shares of the company’s stock, valued at $2,737,216.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kimberly L. Wilford sold 50,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $62.13, for a total transaction of $3,106,500.00. Following the completion of the transaction, the insider now directly owns 93,238 shares in the company, valued at approximately $5,792,876.94. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in WageWorks by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 167,344 shares of the business services provider’s stock worth $11,246,000 after purchasing an additional 7,871 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in WageWorks by 0.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 23,347 shares of the business services provider’s stock worth $1,569,000 after purchasing an additional 155 shares during the last quarter. Prudential Financial Inc. increased its position in WageWorks by 4.2% in the second quarter. Prudential Financial Inc. now owns 66,688 shares of the business services provider’s stock worth $4,481,000 after purchasing an additional 2,708 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in WageWorks by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the business services provider’s stock worth $107,000 after purchasing an additional 139 shares during the last quarter. Finally, Swiss National Bank increased its position in WageWorks by 9.8% in the second quarter. Swiss National Bank now owns 66,100 shares of the business services provider’s stock worth $4,442,000 after purchasing an additional 5,900 shares during the last quarter.

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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 (COBRA) and other employee benefits.

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