WageWorks, Inc. (NYSE:WAGE) Given Buy Rating at Needham & Company LLC

WageWorks, Inc. (NYSE:WAGE)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued to investors on Friday, October 6th. They currently have a $82.00 target price on the business services provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 28.53% from the company’s current price.

WAGE has been the topic of a number of other research reports. Zacks Investment Research cut shares of WageWorks from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 7th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $85.00 target price on shares of WageWorks in a research report on Monday, July 17th. Finally, BidaskClub lowered shares of WageWorks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. WageWorks currently has a consensus rating of “Hold” and an average price target of $80.30.

WageWorks (NYSE:WAGE) opened at 63.80 on Friday. The stock has a market cap of $2.53 billion, a PE ratio of 58.26 and a beta of 0.84. WageWorks has a 12 month low of $55.65 and a 12 month high of $80.50. The company has a 50-day moving average of $60.25 and a 200-day moving average of $65.90.

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

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Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in WageWorks by 6.1% in the second quarter. BlackRock Inc. now owns 4,659,600 shares of the business services provider’s stock valued at $313,124,000 after purchasing an additional 267,481 shares during the last quarter. Vanguard Group Inc. increased its stake in WageWorks by 7.9% in the second quarter. Vanguard Group Inc. now owns 3,512,829 shares of the business services provider’s stock valued at $236,063,000 after purchasing an additional 258,469 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in WageWorks by 46.2% in the second 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 during the last quarter. DF Dent & Co. Inc. increased its stake in WageWorks by 13.2% in the second quarter. DF Dent & Co. Inc. now owns 1,525,539 shares of the business services provider’s stock valued at $102,516,000 after purchasing an additional 178,133 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its stake in WageWorks by 169.2% in the second 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 during 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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