Shares of Wageworks Inc (NYSE:WAGE) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $50.50.

Several research firms have issued reports on WAGE. William Blair downgraded shares of Wageworks from an “outperform” rating to a “market perform” rating in a report on Thursday, June 27th. Stifel Nicolaus downgraded shares of Wageworks from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a report on Monday, July 15th. Zacks Investment Research reaffirmed a “hold” rating on shares of Wageworks in a report on Saturday, June 29th. Wells Fargo & Co downgraded shares of Wageworks from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $45.00 to $50.00 in a report on Tuesday, May 7th. Finally, SunTrust Banks downgraded shares of Wageworks from a “buy” rating to a “hold” rating in a report on Friday, June 28th.

Hedge funds and other institutional investors have recently modified their holdings of the company. Radnor Capital Management LLC acquired a new stake in shares of Wageworks in the second quarter valued at about $387,000. Norges Bank acquired a new stake in shares of Wageworks in the fourth quarter valued at about $11,403,000. Mason Street Advisors LLC raised its position in shares of Wageworks by 3.4% in the first quarter. Mason Street Advisors LLC now owns 12,730 shares of the business services provider’s stock valued at $481,000 after buying an additional 421 shares during the last quarter. CWM LLC raised its position in shares of Wageworks by 23.8% in the first quarter. CWM LLC now owns 76,633 shares of the business services provider’s stock valued at $2,894,000 after buying an additional 14,752 shares during the last quarter. Finally, Summit Creek Advisors LLC raised its position in shares of Wageworks by 13.9% in the first quarter. Summit Creek Advisors LLC now owns 344,188 shares of the business services provider’s stock valued at $12,997,000 after buying an additional 41,890 shares during the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

WAGE traded down $0.01 during midday trading on Friday, hitting $51.23. 47,916 shares of the company traded hands, compared to its average volume of 696,407. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.32. Wageworks has a 52-week low of $25.15 and a 52-week high of $54.90. The stock’s 50 day moving average price is $50.96.

Wageworks (NYSE:WAGE) last posted its quarterly earnings data on Friday, June 28th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.10). The company had revenue of $118.23 million for the quarter, compared to analysts’ expectations of $126.19 million. Wageworks had a net margin of 4.10% and a return on equity of 3.58%. On average, research analysts forecast that Wageworks will post 1.08 EPS for the current year.

Wageworks Company Profile

WageWorks, Inc is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits.

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Analyst Recommendations for Wageworks (NYSE:WAGE)

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