Needham & Company LLC Reaffirms “Buy” Rating for WageWorks, Inc. (WAGE)

Needham & Company LLC reiterated their buy rating on shares of WageWorks, Inc. (NYSE:WAGE) in a research report report published on Friday. Needham & Company LLC currently has a $82.00 target price on the business services provider’s stock.

A number of other research firms have also recently weighed in on WAGE. Stifel Nicolaus restated a buy rating and issued a $85.00 price target on shares of WageWorks in a report on Monday, July 17th. Zacks Investment Research cut WageWorks from a hold rating to a sell rating in a report on Thursday, July 20th. Finally, BidaskClub cut WageWorks from a sell rating to a strong sell rating in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. WageWorks has an average rating of Hold and a consensus target price of $80.30.

Shares of WageWorks (NYSE:WAGE) opened at 62.50 on Friday. The company has a 50-day moving average of $59.52 and a 200 day moving average of $66.13. WageWorks has a one year low of $55.65 and a one year high of $80.50. The firm has a market cap of $2.48 billion, a PE ratio of 57.08 and a beta of 0.84.

WageWorks (NYSE:WAGE) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.11). The company had revenue of $119.90 million during the quarter, compared to analysts’ expectations of $119.18 million. WageWorks had a return on equity of 9.52% and a net margin of 9.60%. The firm’s revenue was up 36.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS. On average, equities research analysts expect that WageWorks will post $1.75 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Needham & Company LLC Reaffirms “Buy” Rating for WageWorks, Inc. (WAGE)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The original version of this piece of content can be read at https://ledgergazette.com/2017/10/10/needham-company-llc-reaffirms-buy-rating-for-wageworks-inc-wage.html.

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its position in shares of WageWorks by 8.1% in the 1st quarter. State Street Corp now owns 844,713 shares of the business services provider’s stock valued at $61,076,000 after purchasing an additional 63,265 shares in the last quarter. Stephens Investment Management Group LLC raised its position in shares of WageWorks by 2.4% in the 2nd quarter. Stephens Investment Management Group LLC now owns 935,608 shares of the business services provider’s stock valued at $62,873,000 after purchasing an additional 21,726 shares in the last quarter. TimesSquare Capital Management LLC raised its position in shares of WageWorks by 46.2% in the 2nd quarter. TimesSquare Capital Management LLC now owns 2,422,884 shares of the business services provider’s stock valued at $162,818,000 after purchasing an additional 765,715 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of WageWorks by 169.2% in the 2nd quarter. Eagle Asset Management Inc. now owns 966,101 shares of the business services provider’s stock valued at $64,921,000 after purchasing an additional 607,164 shares in the last quarter. Finally, Cohen Capital Management Inc. raised its position in shares of WageWorks by 45.3% in the 2nd quarter. Cohen Capital Management Inc. now owns 9,441 shares of the business services provider’s stock valued at $634,000 after purchasing an additional 2,943 shares in 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

A number of other research firms have also recently weighed in on WAGE. Stifel Nicolaus restated a buy rating and issued a $85.00 price target on shares of WageWorks in a report on Monday, July 17th. Zacks Investment Research cut WageWorks from a hold rating to a sell rating in a report on Thursday, July 20th. Finally, BidaskClub cut WageWorks from a sell rating to a strong sell rating in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. WageWorks has an average rating of Hold and a consensus target price of $80.30.

Shares of WageWorks (NYSE:WAGE) opened at 62.50 on Friday. The company has a 50-day moving average of $59.52 and a 200 day moving average of $66.13. WageWorks has a one year low of $55.65 and a one year high of $80.50. The firm has a market cap of $2.48 billion, a PE ratio of 57.08 and a beta of 0.84.

WageWorks (NYSE:WAGE) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.11). The company had revenue of $119.90 million during the quarter, compared to analysts’ expectations of $119.18 million. WageWorks had a return on equity of 9.52% and a net margin of 9.60%. The firm’s revenue was up 36.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS. On average, equities research analysts expect that WageWorks will post $1.75 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Needham & Company LLC Reaffirms “Buy” Rating for WageWorks, Inc. (WAGE)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The original version of this piece of content can be read at https://ledgergazette.com/2017/10/10/needham-company-llc-reaffirms-buy-rating-for-wageworks-inc-wage.html.

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its position in shares of WageWorks by 8.1% in the 1st quarter. State Street Corp now owns 844,713 shares of the business services provider’s stock valued at $61,076,000 after purchasing an additional 63,265 shares in the last quarter. Stephens Investment Management Group LLC raised its position in shares of WageWorks by 2.4% in the 2nd quarter. Stephens Investment Management Group LLC now owns 935,608 shares of the business services provider’s stock valued at $62,873,000 after purchasing an additional 21,726 shares in the last quarter. TimesSquare Capital Management LLC raised its position in shares of WageWorks by 46.2% in the 2nd quarter. TimesSquare Capital Management LLC now owns 2,422,884 shares of the business services provider’s stock valued at $162,818,000 after purchasing an additional 765,715 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of WageWorks by 169.2% in the 2nd quarter. Eagle Asset Management Inc. now owns 966,101 shares of the business services provider’s stock valued at $64,921,000 after purchasing an additional 607,164 shares in the last quarter. Finally, Cohen Capital Management Inc. raised its position in shares of WageWorks by 45.3% in the 2nd quarter. Cohen Capital Management Inc. now owns 9,441 shares of the business services provider’s stock valued at $634,000 after purchasing an additional 2,943 shares in 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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