WageWorks, Inc. (WAGE) Cut to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of WageWorks, Inc. (NYSE:WAGE) from a sell rating to a strong sell rating in a research note published on Thursday morning.

A number of other equities research analysts have also recently commented on WAGE. Zacks Investment Research cut WageWorks from a hold rating to a sell rating in a research note on Thursday, July 20th. Stifel Nicolaus reiterated a buy rating and set a $85.00 target price on shares of WageWorks in a research note on Monday, July 17th. Finally, Needham & Company LLC reiterated a buy rating and set a $82.00 target price on shares of WageWorks in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. WageWorks currently has a consensus rating of Hold and a consensus target price of $83.00.

Shares of WageWorks (NYSE:WAGE) traded up $0.15 during trading hours on Thursday, reaching $61.50. The company’s stock had a trading volume of 287,900 shares, compared to its average volume of 307,993. The company has a current ratio of 1.38, a quick ratio of 1.47 and a debt-to-equity ratio of 0.41. WageWorks has a fifty-two week low of $56.90 and a fifty-two week high of $80.50. The company has a market cap of $2,437.68, a PE ratio of 49.20, a PEG ratio of 3.46 and a beta of 0.92.

WageWorks (NYSE:WAGE) last issued its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.45 earnings per share for the quarter, beating the 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 business had revenue of $115.70 million for the quarter, compared to analysts’ expectations of $117.09 million. During the same period last year, the business earned $0.34 EPS. The business’s revenue was up 30.1% on a year-over-year basis. equities research analysts forecast that WageWorks will post 1.21 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in WageWorks by 6.1% in the 2nd quarter. BlackRock Inc. now owns 4,659,600 shares of the business services provider’s stock worth $313,124,000 after acquiring an additional 267,481 shares during the last quarter. Vanguard Group Inc. increased its holdings in WageWorks by 7.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,512,829 shares of the business services provider’s stock worth $236,063,000 after acquiring an additional 258,469 shares during the last quarter. TimesSquare Capital Management LLC increased its holdings in WageWorks by 7.9% in the 3rd quarter. TimesSquare Capital Management LLC now owns 2,615,179 shares of the business services provider’s stock worth $158,741,000 after acquiring an additional 192,295 shares during the last quarter. DF Dent & Co. Inc. increased its holdings in WageWorks by 13.2% in the 2nd quarter. DF Dent & Co. Inc. now owns 1,525,539 shares of the business services provider’s stock worth $102,516,000 after acquiring an additional 178,133 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in WageWorks by 47.8% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,067,886 shares of the business services provider’s stock worth $64,821,000 after acquiring an additional 345,272 shares during the last quarter.

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.

Analyst Recommendations for WageWorks (NYSE:WAGE)

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