WageWorks, Inc. (NYSE:WAGE) Receives Consensus Rating of “Hold” from Analysts
WageWorks, Inc. (NYSE:WAGE) has received a consensus recommendation of “Hold” from the nine research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $84.67.
A number of analysts have recently commented on the company. Zacks Investment Research cut WageWorks from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Stifel Nicolaus reiterated a “buy” rating and set a $85.00 price target on shares of WageWorks in a research report on Monday, July 17th. BidaskClub cut WageWorks from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 14th. Finally, TheStreet upgraded WageWorks from a “c+” rating to a “b” rating in a research report on Friday, May 5th.
In related news, COO Edgar O. Montes sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $69.25, for a total transaction of $3,462,500.00. Following the completion of the sale, the chief operating officer now directly owns 71,895 shares in the company, valued at $4,978,728.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph L. Jackson sold 495,148 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $69.25, for a total value of $34,288,999.00. Following the sale, the chief executive officer now owns 103,363 shares of the company’s stock, valued at $7,157,887.75. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of WageWorks by 6.1% in the second quarter. BlackRock Inc. now owns 4,659,600 shares of the business services provider’s stock valued at $313,124,000 after buying an additional 267,481 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of WageWorks by 7.9% in the second quarter. Vanguard Group Inc. now owns 3,512,829 shares of the business services provider’s stock valued at $236,063,000 after buying an additional 258,469 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of WageWorks by 46.2% in the second quarter. TimesSquare Capital Management LLC now owns 2,422,884 shares of the business services provider’s stock valued at $162,818,000 after buying an additional 765,715 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of WageWorks by 169.2% in the second quarter. Eagle Asset Management Inc. now owns 966,101 shares of the business services provider’s stock valued at $64,921,000 after buying an additional 607,164 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of WageWorks by 15.6% in the second quarter. Renaissance Technologies LLC now owns 954,100 shares of the business services provider’s stock valued at $64,116,000 after buying an additional 128,800 shares during the last quarter. Hedge funds and other institutional investors own 96.28% of the company’s stock.
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WageWorks (NYSE:WAGE) traded up 0.09% during midday trading on Friday, reaching $57.55. 271,745 shares of the company traded hands. The firm has a 50-day moving average of $64.14 and a 200-day moving average of $70.73. The stock has a market capitalization of $2.28 billion, a P/E ratio of 52.56 and a beta of 0.86. WageWorks has a 1-year low of $55.65 and a 1-year high of $80.50.
WageWorks (NYSE:WAGE) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.11. The business had revenue of $119.90 million during the quarter, compared to analysts’ expectations of $119.18 million. WageWorks had a net margin of 9.60% and a return on equity of 9.52%. The firm’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. On average, analysts predict that WageWorks will post $1.75 earnings per share for the current year.
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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