Zacks Investment Research downgraded shares of WageWorks (NYSE:WAGE) from a strong-buy rating to a hold rating in a report issued on Saturday morning.

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 research analysts also recently commented on WAGE. BidaskClub raised shares of WageWorks from a strong sell rating to a sell rating in a research note on Thursday, September 28th. Needham & Company LLC reissued a buy rating and set a $82.00 price target on shares of WageWorks in a research note on Friday, October 6th. Stifel Nicolaus reissued a buy rating and set a $80.00 price target (down from $85.00) on shares of WageWorks in a research note on Thursday, November 9th. Finally, ValuEngine raised shares of WageWorks from a sell rating to a hold rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $79.75.

WageWorks (NYSE WAGE) opened at $61.25 on Friday. The company has a market cap of $2,430.00, a P/E ratio of 52.35, a price-to-earnings-growth ratio of 2.74 and a beta of 0.90. WageWorks has a one year low of $56.90 and a one year high of $80.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.38 and a current ratio of 1.38.

WageWorks (NYSE:WAGE) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $115.70 million for the quarter, compared to the consensus estimate of $117.09 million. WageWorks had a net margin of 9.87% and a return on equity of 9.60%. The business’s revenue was up 30.1% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. sell-side analysts predict that WageWorks will post 1.25 EPS for the current fiscal year.

In related news, insider Kimberly L. Wilford sold 50,000 shares of WageWorks stock in a transaction on Monday, November 13th. The shares were sold at an average price of $62.13, for a total value of $3,106,500.00. Following the transaction, the insider now directly owns 93,238 shares of the company’s stock, valued at $5,792,876.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John William Larson sold 30,500 shares of WageWorks stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $63.76, for a total transaction of $1,944,680.00. Following the completion of the transaction, the director now directly owns 42,930 shares in the company, valued at $2,737,216.80. The disclosure for this sale can be found here. 3.54% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Atlantic Trust Group LLC bought a new stake in WageWorks in the third quarter valued at $1,242,000. GSA Capital Partners LLP boosted its holdings in WageWorks by 163.0% in the third quarter. GSA Capital Partners LLP now owns 11,199 shares of the business services provider’s stock valued at $680,000 after acquiring an additional 6,941 shares in the last quarter. Sterling Capital Management LLC bought a new stake in WageWorks in the third quarter valued at $575,000. DF Dent & Co. Inc. boosted its holdings in WageWorks by 10.8% in the third quarter. DF Dent & Co. Inc. now owns 1,690,718 shares of the business services provider’s stock valued at $102,627,000 after acquiring an additional 165,179 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in WageWorks by 6.8% in the third quarter. Neuberger Berman Group LLC now owns 426,395 shares of the business services provider’s stock valued at $25,882,000 after acquiring an additional 27,118 shares in the last quarter.

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About WageWorks

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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