WageWorks Inc. (NYSE:WAGE) Given Average Recommendation of “Buy” by Analysts
Shares of WageWorks Inc. (NYSE:WAGE) have been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the stock. One research analyst has rated the stock with a sell recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $65.50.
A number of equities analysts recently issued reports on WAGE shares. JMP Securities reissued a “buy” rating on shares of WageWorks in a report on Saturday, July 9th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective (up previously from $60.00) on shares of WageWorks in a report on Thursday, August 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $69.00 price target (up previously from $59.00) on shares of WageWorks in a report on Thursday, June 9th. Zacks Investment Research downgraded shares of WageWorks from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, Standpoint Research lifted their price target on shares of WageWorks from $59.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, June 9th.
WageWorks (NYSE:WAGE) opened at 60.91 on Tuesday. The stock has a 50 day moving average of $61.89 and a 200-day moving average of $57.43. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 99.85 and a beta of 0.91. WageWorks has a one year low of $38.99 and a one year high of $65.43.
WageWorks (NYSE:WAGE) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $87.70 million for the quarter, compared to the consensus estimate of $87.42 million. WageWorks had a net margin of 6.58% and a return on equity of 10.39%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. On average, equities analysts predict that WageWorks will post $1.40 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in WAGE. Invictus RG bought a new stake in WageWorks during the second quarter valued at about $100,000. Quantbot Technologies LP bought a new stake in WageWorks during the second quarter valued at about $122,000. BlackRock Inc. boosted its stake in WageWorks by 139.9% in the first quarter. BlackRock Inc. now owns 2,464 shares of the company’s stock valued at $125,000 after buying an additional 1,437 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in WageWorks during the second quarter valued at about $126,000. Finally, Fortaleza Asset Management Inc. bought a new stake in WageWorks during the second quarter valued at about $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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