WageWorks, Inc. (NYSE:WAGE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors 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. “
Several other equities analysts have also issued reports on the company. Stifel Nicolaus restated a “buy” rating and set a $85.00 target price on shares of WageWorks in a research report on Monday, July 17th. Needham & Company LLC restated a “buy” rating and set a $82.00 target price on shares of WageWorks in a research report on Friday, October 6th. Finally, BidaskClub upgraded WageWorks from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. WageWorks has an average rating of “Hold” and an average price target of $83.00.
WageWorks (NYSE WAGE) traded up $0.80 during trading on Tuesday, hitting $62.30. The stock had a trading volume of 423,100 shares, compared to its average volume of 292,478. The firm has a market cap of $2,437.65, a price-to-earnings ratio of 49.20, a P/E/G ratio of 3.40 and a beta of 0.92. WageWorks has a 52 week low of $56.90 and a 52 week high of $80.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.38 and a quick ratio of 1.38.
WageWorks (NYSE:WAGE) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. The company had revenue of $115.70 million during the quarter, compared to analyst estimates of $117.09 million. WageWorks had a return on equity of 9.60% and a net margin of 9.87%. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 EPS. equities research analysts expect that WageWorks will post 1.21 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. grew its position in shares of WageWorks by 2.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 36,658 shares of the business services provider’s stock valued at $2,225,000 after purchasing an additional 811 shares during the period. Segall Bryant & Hamill LLC acquired a new position in shares of WageWorks in the 3rd quarter valued at approximately $9,709,000. Stifel Financial Corp grew its position in shares of WageWorks by 23.8% in the 3rd quarter. Stifel Financial Corp now owns 28,512 shares of the business services provider’s stock valued at $1,729,000 after purchasing an additional 5,474 shares during the period. Elk Creek Partners LLC grew its position in shares of WageWorks by 32.3% in the 3rd quarter. Elk Creek Partners LLC now owns 448,018 shares of the business services provider’s stock valued at $27,195,000 after purchasing an additional 109,308 shares during the period. Finally, Westfield Capital Management Co. LP grew its position in shares of WageWorks by 0.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 330,565 shares of the business services provider’s stock valued at $20,065,000 after purchasing an additional 2,185 shares during the period.
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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