Wageworks Inc (NYSE:WAGE) Given Average Rating of “Hold” by Brokerages

Shares of Wageworks Inc (NYSE:WAGE) have earned an average recommendation of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating. The average 12 month price target among analysts that have issued a report on the stock in the last year is $50.50.

Several equities research analysts recently commented on the stock. Zacks Investment Research reaffirmed a “hold” rating on shares of Western New England Bancorp in a research report on Saturday, June 29th. Wells Fargo & Co cut shares of Mylan from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $33.00 to $22.00 in a research report on Tuesday, May 7th. SunTrust Banks cut shares of Wageworks from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. Stifel Nicolaus set a $113.00 price objective on shares of Neurocrine Biosciences and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, William Blair reissued a “market perform” rating on shares of Paychex in a research report on Thursday, June 27th.

Large investors have recently modified their holdings of the business. Royce & Associates LP lifted its position in Wageworks by 51.2% during the 4th quarter. Royce & Associates LP now owns 992 shares of the business services provider’s stock worth $27,000 after buying an additional 336 shares in the last quarter. Quantamental Technologies LLC lifted its position in Wageworks by 109.6% during the 1st quarter. Quantamental Technologies LLC now owns 4,587 shares of the business services provider’s stock worth $173,000 after buying an additional 2,399 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Wageworks during the 4th quarter worth about $208,000. Mercer Global Advisors Inc. ADV bought a new stake in Wageworks during the 1st quarter worth about $226,000. Finally, OLD National Bancorp IN bought a new stake in Wageworks during the 1st quarter worth about $227,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

WAGE traded up $0.26 during trading on Monday, hitting $51.05. The company had a trading volume of 1,152,102 shares, compared to its average volume of 1,167,851. The stock has a market capitalization of $2.02 billion, a P/E ratio of 61.94 and a beta of 1.43. Wageworks has a one year low of $25.15 and a one year high of $56.80. The stock has a 50-day moving average of $51.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.43 and a quick ratio of 1.43.

Wageworks (NYSE:WAGE) last posted its quarterly earnings data on Friday, June 28th. The business services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.10). The company had revenue of $118.23 million during the quarter, compared to the consensus estimate of $126.19 million. Wageworks had a net margin of 4.10% and a return on equity of 3.58%. Equities research analysts predict that Wageworks will post 1.08 earnings per share for the current year.

Wageworks Company Profile

WageWorks, Inc is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits.

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Analyst Recommendations for Wageworks (NYSE:WAGE)

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