WageWorks, Inc. (WAGE) Receives Average Rating of “Hold” from Brokerages
WageWorks, Inc. (NYSE:WAGE) has been assigned an average recommendation of “Hold” from the nine analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $83.00.
Several brokerages recently weighed in on WAGE. BidaskClub upgraded WageWorks from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 28th. Zacks Investment Research downgraded WageWorks from a “strong-buy” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus restated a “buy” rating and set a $80.00 target price (down from $85.00) on shares of WageWorks in a research note on Thursday, November 9th. Needham & Company LLC restated a “buy” rating and set a $82.00 target price on shares of WageWorks in a research note on Friday, October 6th. Finally, ValuEngine upgraded WageWorks from a “sell” rating to a “hold” rating in a research note on Friday, December 1st.
In other WageWorks news, insider Kimberly L. Wilford sold 50,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $62.13, for a total transaction of $3,106,500.00. Following the sale, the insider now owns 93,238 shares in the company, valued at approximately $5,792,876.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John William Larson sold 30,500 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $63.76, for a total value of $1,944,680.00. Following the sale, the director now owns 42,930 shares in the company, valued at approximately $2,737,216.80. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of WAGE. Zions Bancorporation purchased a new stake in WageWorks during the 3rd quarter valued at about $105,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in WageWorks by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 139 shares during the last quarter. Advisor Group Inc. grew its stake in WageWorks by 10.8% during the 2nd quarter. Advisor Group Inc. now owns 1,594 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 156 shares during the last quarter. Riverhead Capital Management LLC grew its stake in WageWorks by 85.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,964 shares of the business services provider’s stock valued at $199,000 after purchasing an additional 1,364 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in WageWorks by 3.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,275 shares of the business services provider’s stock valued at $220,000 after purchasing an additional 122 shares during the last quarter.
Shares of WageWorks (NYSE:WAGE) traded down $0.65 during mid-day trading on Tuesday, reaching $61.25. The company had a trading volume of 256,151 shares, compared to its average volume of 265,831. WageWorks has a 1 year low of $56.90 and a 1 year high of $80.50. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.41. The stock has a market cap of $2,427.77, a P/E ratio of 49.00, a price-to-earnings-growth ratio of 2.74 and a beta of 0.90.
WageWorks (NYSE:WAGE) last announced its earnings results on Wednesday, November 8th. The business services provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. WageWorks had a return on equity of 9.60% and a net margin of 9.87%. The firm had revenue of $115.70 million for the quarter, compared to the consensus estimate of $117.09 million. During the same period in the previous year, the business earned $0.34 EPS. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. sell-side analysts predict that WageWorks will post 1.25 EPS for the current year.
TRADEMARK VIOLATION WARNING: “WageWorks, Inc. (WAGE) Receives Average Rating of “Hold” from Brokerages” was originally published by Daily Political and is the property of of Daily Political. If you are viewing this news story on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The legal version of this news story can be accessed at https://www.dailypolitical.com/2018/01/14/wageworks-inc-wage-receives-average-rating-of-hold-from-brokerages.html.
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.
Receive News & Ratings for WageWorks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WageWorks and related companies with MarketBeat.com's FREE daily email newsletter.