Wageworks Inc (NYSE:WAGE) has been given an average rating of “Hold” by the six research firms that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $50.50.
Several brokerages have recently weighed in on WAGE. Zacks Investment Research reissued a “hold” rating on shares of Western New England Bancorp in a research report on Saturday, June 29th. SunTrust Banks lowered Wageworks from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. Wells Fargo & Co lowered Mylan from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $33.00 to $22.00 in a research report on Tuesday, May 7th. Stifel Nicolaus set a $113.00 target price on Neurocrine Biosciences and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, JMP Securities lowered Wageworks from an “outperform” rating to a “market perform” rating in a research report on Friday, June 28th.
Shares of NYSE WAGE traded down $0.15 during midday trading on Monday, hitting $50.90. 672,800 shares of the company’s stock were exchanged, compared to its average volume of 697,389. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 1.43. Wageworks has a twelve month low of $25.15 and a twelve month high of $56.80. The firm has a fifty day simple moving average of $51.15.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP increased its position in Wageworks by 51.2% during the fourth quarter. Royce & Associates LP now owns 992 shares of the business services provider’s stock worth $27,000 after buying an additional 336 shares during the period. Quantamental Technologies LLC increased its position in Wageworks by 109.6% during the first quarter. Quantamental Technologies LLC now owns 4,587 shares of the business services provider’s stock worth $173,000 after buying an additional 2,399 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Wageworks during the first quarter worth approximately $226,000. OLD National Bancorp IN acquired a new position in Wageworks during the first quarter worth approximately $227,000. Finally, Private Advisors LLC acquired a new position in Wageworks during the first quarter worth approximately $248,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.
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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