Needham & Company LLC assumed coverage on shares of Wageworks (NYSE:WAGE) in a research note released on Friday, MarketBeat.com reports. The brokerage issued a hold rating on the business services provider’s stock.
Other analysts have also recently issued reports about the company. TheStreet cut Wageworks from a b- rating to a c+ rating in a research note on Wednesday, March 7th. Zacks Investment Research cut Wageworks from a strong-buy rating to a hold rating in a research note on Saturday, January 13th. Finally, ValuEngine cut Wageworks from a hold rating to a sell rating in a research note on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $75.67.
Shares of WAGE stock traded down $1.65 on Friday, reaching $43.40. The company had a trading volume of 1,709,993 shares, compared to its average volume of 411,808. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market cap of $1,785.63, a PE ratio of 36.04, a price-to-earnings-growth ratio of 1.68 and a beta of 0.96. Wageworks has a 12 month low of $38.40 and a 12 month high of $76.55.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB bought a new stake in Wageworks during the 4th quarter worth approximately $237,000. Envestnet Asset Management Inc. increased its stake in Wageworks by 3.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 38,733 shares of the business services provider’s stock worth $2,401,000 after purchasing an additional 1,225 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in Wageworks by 25.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 200,853 shares of the business services provider’s stock worth $12,453,000 after purchasing an additional 40,908 shares in the last quarter. DF Dent & Co. Inc. increased its stake in Wageworks by 21.8% during the 4th quarter. DF Dent & Co. Inc. now owns 2,060,014 shares of the business services provider’s stock worth $127,721,000 after purchasing an additional 369,296 shares in the last quarter. Finally, MetLife Investment Advisors LLC bought a new stake in Wageworks during the 4th quarter worth approximately $1,146,000.
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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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