Wageworks (NYSE:WAGE) Receiving Somewhat Favorable Press Coverage, Report Shows
News articles about Wageworks (NYSE:WAGE) have been trending somewhat positive recently, according to Accern. Accern identifies negative and positive news coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Wageworks earned a media sentiment score of 0.13 on Accern’s scale. Accern also assigned news coverage about the business services provider an impact score of 47.5662767534115 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the media stories that may have impacted Accern Sentiment’s rankings:
- Brokers Change Their Target Price On Brooks Automation, Inc. (NASDAQ:BRKS) (vothemes.com)
- WageWorks Inc. Delivers 37% Revenue Growth (fool.com)
- Investor Network: WageWorks, Inc. to Host Earnings Call (finance.yahoo.com)
- WageWorks Reports Second Quarter 2017 Financial Results (finance.yahoo.com)
- ETFs with exposure to WageWorks, Inc. : August 1, 2017 (finance.yahoo.com)
Several equities analysts have commented on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 price target on shares of Wageworks in a research report on Monday, July 17th. Zacks Investment Research raised shares of Wageworks from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Wednesday, May 10th. BidaskClub cut shares of Wageworks from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 14th. Finally, TheStreet raised shares of Wageworks from a “c+” rating to a “b” rating in a research report on Friday, May 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Wageworks presently has an average rating of “Hold” and a consensus target price of $78.37.
Shares of Wageworks (WAGE) traded up 0.85% during midday trading on Friday, reaching $59.15. 531,611 shares of the company were exchanged. The stock’s 50-day moving average price is $66.86 and its 200-day moving average price is $71.48. Wageworks has a 52-week low of $55.65 and a 52-week high of $80.50. The company has a market capitalization of $2.35 billion, a PE ratio of 54.02 and a beta of 0.86.
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. Wageworks had a net margin of 15.94% and a return on equity of 15.06%. The company had revenue of $119.90 million for the quarter, compared to the consensus estimate of $119.18 million. During the same quarter last year, the company earned $0.36 earnings per share. The company’s revenue was up 36.7% compared to the same quarter last year. Analysts anticipate that Wageworks will post $1.75 EPS for the current year.
In other news, CEO Joseph L. Jackson sold 495,148 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $69.25, for a total value of $34,288,999.00. Following the transaction, the chief executive officer now directly owns 103,363 shares in the company, valued at approximately $7,157,887.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Edgar O. Montes sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 71,895 shares in the company, valued at $4,978,728.75. The disclosure for this sale can be found here. Corporate insiders own 3.54% of the company’s stock.
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 (COBRA) and other employee benefits.
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