Shares of Wageworks Inc (NYSE:WAGE) have been assigned an average recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $57.75.
A number of equities research analysts recently weighed in on the company. Wells Fargo & Co lowered Wageworks from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $45.00 to $50.00 in a research report on Tuesday, May 7th. Zacks Investment Research restated a “hold” rating on shares of Wageworks in a research report on Saturday. SunTrust Banks boosted their price objective on Wageworks to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, JMP Securities boosted their price objective on Wageworks from $43.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 1st.
WAGE stock traded up $0.37 during midday trading on Tuesday, reaching $51.84. 269,060 shares of the stock were exchanged, compared to its average volume of 283,587. The firm has a market capitalization of $2.07 billion, a P/E ratio of 63.22 and a beta of 1.54. Wageworks has a 52 week low of $25.15 and a 52 week high of $56.80. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.37.
Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Wageworks in the 4th quarter valued at about $11,403,000. D. E. Shaw & Co. Inc. lifted its stake in shares of Wageworks by 32.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 458,145 shares of the business services provider’s stock valued at $12,443,000 after purchasing an additional 112,356 shares during the period. Mason Street Advisors LLC lifted its stake in shares of Wageworks by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 12,730 shares of the business services provider’s stock valued at $481,000 after purchasing an additional 421 shares during the period. Pearl River Capital LLC acquired a new position in shares of Wageworks in the 4th quarter valued at about $46,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Wageworks in the 4th quarter valued at about $208,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.
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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