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. “
A number of other analysts have also weighed in on the stock. JMP Securities restated a buy rating on shares of WageWorks in a research report on Wednesday, August 31st. Needham & Company LLC restated a buy rating and issued a $65.00 target price (up previously from $60.00) on shares of WageWorks in a research report on Thursday, August 11th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $65.00.
Shares of WageWorks (NYSE:WAGE) opened at 58.05 on Wednesday. WageWorks has a 52-week low of $38.99 and a 52-week high of $65.43. The company has a 50 day moving average of $61.72 and a 200-day moving average of $58.40. The company has a market cap of $2.12 billion, a PE ratio of 95.16 and a beta of 0.92.
WageWorks (NYSE:WAGE) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 net margin of 6.58% and a return on equity of 10.39%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. Analysts forecast that WageWorks will post $1.40 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Invictus RG purchased a new position in shares of WageWorks during the second quarter worth $100,000. Quantbot Technologies LP purchased a new position in shares of WageWorks during the second quarter worth $122,000. BlackRock Inc. increased its position in shares of WageWorks by 139.9% in the first quarter. BlackRock Inc. now owns 2,464 shares of the company’s stock worth $125,000 after buying an additional 1,437 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of WageWorks during the second quarter worth $126,000. Finally, Fortaleza Asset Management Inc. purchased a new position in shares of WageWorks during the second quarter worth $134,000.
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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