WageWorks, Inc. (WAGE) Earns Buy Rating from Needham & Company LLC

WageWorks, Inc. (NYSE:WAGE)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Wednesday. They presently have a $74.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 1.58% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of WageWorks from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Chardan Capital began coverage on shares of WageWorks in a research note on Wednesday, November 30th. They issued a “buy” rating and a $86.00 price objective for the company. Finally, William Blair reissued an “outperform” rating and issued a $67.20 price objective on shares of WageWorks in a research note on Thursday, November 10th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $71.65.

Analyst Recommendations for WageWorks (NYSE:WAGE)

Shares of WageWorks (NYSE:WAGE) remained flat at $72.85 during trading on Wednesday. The company’s stock had a trading volume of 115,260 shares. WageWorks has a one year low of $38.99 and a one year high of $75.28. The firm has a market capitalization of $2.67 billion, a P/E ratio of 130.09 and a beta of 1.05. The stock’s 50-day moving average is $72.77 and its 200 day moving average is $64.33.

WageWorks (NYSE:WAGE) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The firm earned $88.90 million during the quarter. WageWorks had a net margin of 5.98% and a return on equity of 9.09%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $0.36 earnings per share. On average, equities research analysts anticipate that WageWorks will post $1.37 EPS for the current year.

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In other news, CEO Joseph L. Jackson sold 87,749 shares of the stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $72.49, for a total value of $6,360,925.01. Following the sale, the chief executive officer now owns 93,981 shares of the company’s stock, valued at $6,812,682.69. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edward C. Nafus sold 2,000 shares of the stock in a transaction on Monday, November 28th. The shares were sold at an average price of $74.34, for a total transaction of $148,680.00. Following the completion of the sale, the director now directly owns 8,500 shares in the company, valued at approximately $631,890. The disclosure for this sale can be found here. Company insiders own 4.33% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Credit Suisse AG increased its stake in shares of WageWorks by 59.7% in the third quarter. Credit Suisse AG now owns 60,437 shares of the company’s stock valued at $3,680,000 after buying an additional 22,595 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in WageWorks by 25.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 200,809 shares of the company’s stock valued at $12,232,000 after buying an additional 40,539 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in WageWorks during the third quarter valued at approximately $1,498,000. KCG Holdings Inc. bought a new position in WageWorks during the third quarter valued at approximately $701,000. Finally, Stephens Investment Management Group LLC increased its position in WageWorks by 0.7% in the third quarter. Stephens Investment Management Group LLC now owns 828,196 shares of the company’s stock valued at $50,445,000 after buying an additional 5,765 shares in the last quarter.

About WageWorks

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 and other employee benefits.

5 Day Chart for NYSE:WAGE

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