Stifel Nicolaus reissued their buy rating on shares of WageWorks, Inc. (NYSE:WAGE) in a research note released on Thursday, Marketbeat reports. Stifel Nicolaus currently has a $80.00 price target on the business services provider’s stock, down from their previous price target of $85.00.
Several other analysts have also issued reports on WAGE. BidaskClub lowered shares of WageWorks from a sell rating to a strong sell rating in a research report on Thursday. Zacks Investment Research lowered shares of WageWorks from a hold rating to a strong sell rating in a research report on Tuesday, August 8th. Finally, Needham & Company LLC reiterated a buy rating and issued a $82.00 target price on shares of WageWorks in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $83.00.
Shares of WageWorks (NYSE:WAGE) opened at $61.50 on Thursday. The company has a market cap of $2,437.65, a price-to-earnings ratio of 49.20, a P/E/G ratio of 3.40 and a beta of 0.92. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.41. WageWorks has a 52-week low of $56.90 and a 52-week high of $80.50.
WageWorks (NYSE:WAGE) last released its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. WageWorks had a net margin of 9.87% and a return on equity of 9.60%. The company had revenue of $115.70 million for the quarter, compared to analyst estimates of $117.09 million. During the same quarter last year, the business earned $0.34 earnings per share. The firm’s revenue was up 30.1% on a year-over-year basis. equities analysts expect that WageWorks will post 1.21 EPS for the current year.
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Several large investors have recently bought and sold shares of WAGE. OppenheimerFunds Inc. lifted its stake in shares of WageWorks by 38.5% in the first quarter. OppenheimerFunds Inc. now owns 4,118 shares of the business services provider’s stock worth $298,000 after buying an additional 1,145 shares in the last quarter. Geode Capital Management LLC raised its stake in WageWorks by 9.0% during the first quarter. Geode Capital Management LLC now owns 285,681 shares of the business services provider’s stock worth $20,654,000 after purchasing an additional 23,663 shares during the period. Schwab Charles Investment Management Inc. raised its stake in WageWorks by 6.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 159,473 shares of the business services provider’s stock worth $11,530,000 after purchasing an additional 10,207 shares during the period. State Street Corp raised its stake in WageWorks by 8.1% during the first quarter. State Street Corp now owns 844,713 shares of the business services provider’s stock worth $61,076,000 after purchasing an additional 63,265 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in WageWorks by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 211,369 shares of the business services provider’s stock worth $15,282,000 after purchasing an additional 20,065 shares during the period.
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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