Wageworks Inc (WAGE) Receives $55.00 Average PT from Brokerages

Wageworks Inc (NYSE:WAGE) has been given a consensus rating of “Hold” by the nine analysts that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $55.00.

WAGE has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Wageworks from a “sell” rating to a “hold” rating in a research note on Saturday, November 17th. SunTrust Banks reduced their target price on Wageworks to $56.00 and set a “buy” rating on the stock in a research note on Thursday, September 13th. JMP Securities lowered Wageworks from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 13th. Finally, Wells Fargo & Co set a $45.00 target price on Wageworks and gave the stock a “hold” rating in a research note on Tuesday, October 16th.

Several institutional investors have recently made changes to their positions in WAGE. FMR LLC increased its stake in shares of Wageworks by 218.5% during the second quarter. FMR LLC now owns 2,178,770 shares of the business services provider’s stock valued at $108,938,000 after buying an additional 1,494,766 shares during the period. BlackRock Inc. boosted its position in Wageworks by 7.9% during the second quarter. BlackRock Inc. now owns 5,548,500 shares of the business services provider’s stock valued at $277,424,000 after purchasing an additional 406,916 shares in the last quarter. Standard Life Aberdeen plc boosted its position in Wageworks by 77.3% during the second quarter. Standard Life Aberdeen plc now owns 651,145 shares of the business services provider’s stock valued at $32,574,000 after purchasing an additional 283,908 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in Wageworks by 14.2% during the third quarter. Conestoga Capital Advisors LLC now owns 2,104,741 shares of the business services provider’s stock valued at $89,978,000 after purchasing an additional 261,970 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Wageworks by 5.3% during the third quarter. Vanguard Group Inc. now owns 3,968,695 shares of the business services provider’s stock valued at $169,661,000 after purchasing an additional 198,624 shares in the last quarter.

WAGE stock opened at $33.33 on Friday. Wageworks has a twelve month low of $32.64 and a twelve month high of $65.75. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 26.66 and a beta of 1.22.

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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