WageWorks Inc. (NYSE:WAGE) has received an average rating of “Buy” from the nine research firms that are currently covering the company. One research analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $65.50.
WAGE has been the topic of a number of analyst reports. Zacks Investment Research lowered WageWorks from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 13th. JMP Securities reaffirmed a “buy” rating on shares of WageWorks in a research note on Wednesday, August 31st. Standpoint Research increased their price objective on WageWorks from $59.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, June 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $69.00 price objective (up previously from $59.00) on shares of WageWorks in a research note on Thursday, June 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective (up previously from $60.00) on shares of WageWorks in a research note on Thursday, August 11th.
Shares of WageWorks (NYSE:WAGE) opened at 60.17 on Tuesday. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 98.64 and a beta of 0.91. WageWorks has a 52 week low of $38.99 and a 52 week high of $65.43. The firm’s 50-day moving average is $61.83 and its 200-day moving average is $57.33.
WageWorks (NYSE:WAGE) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $87.70 million for the quarter, compared to analyst estimates of $87.42 million. WageWorks had a return on equity of 10.39% and a net margin of 6.58%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 earnings per share. On average, equities research analysts anticipate that WageWorks will post $1.40 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in WAGE. Mason Street Advisors LLC purchased a new position in WageWorks during the second quarter worth approximately $424,000. Schwab Charles Investment Management Inc. increased its position in WageWorks by 7.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 132,787 shares of the company’s stock worth $7,942,000 after buying an additional 8,736 shares during the period. Wedge Capital Management L L P NC purchased a new position in WageWorks during the second quarter worth approximately $432,000. Stifel Financial Corp increased its position in WageWorks by 11.2% in the second quarter. Stifel Financial Corp now owns 16,296 shares of the company’s stock worth $975,000 after buying an additional 1,647 shares during the period. Finally, Amalgamated Bank purchased a new position in WageWorks during the second quarter worth approximately $247,000.
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 and other employee benefits.
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