Rating Action: Chardan Capital Markets: Time To Buy WageWorks (NYSE:WAGE)? Has $86 Valuation Target

November 30, 2016 - By whatsonthorold

Rating Action: Chardan Capital Markets: Time To Buy WageWorks (NYSE:WAGE)? Has $86 Valuation Target

Why Chardan Capital Markets Gives WageWorks (NYSE:WAGE) $86 Price Target

Research professionals at Chardan Capital Markets has initiated coverage on shares of WageWorks (NYSE:WAGE) in a a research report issued to investors and clients on Wednesday, 30 November. The financial company set a Buy rating on the stock. Chardan Capital Markets’s target price per share of $86 suggests potential of 17.33% from the stock’s last stock close.

Wageworks Inc (NYSE:WAGE) Ratings Coverage

Out of 6 analysts covering WageWorks Inc (NYSE:WAGE), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $74 is the highest target while $55 is the lowest. The $66.33 average target is -9.51% below today’s ($73.3) stock price. WageWorks Inc has been the topic of 11 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of Wageworks Inc (NYSE:WAGE) earned “Buy” rating by Sidoti on Wednesday, October 14. Needham maintained Wageworks Inc (NYSE:WAGE) on Thursday, November 10 with “Buy” rating. The stock has “Buy” rating given by Stifel Nicolaus on Friday, May 6. The stock of Wageworks Inc (NYSE:WAGE) earned “Buy” rating by Needham on Friday, February 19. The firm has “Buy” rating given on Thursday, June 9 by Standpoint Research. The stock of Wageworks Inc (NYSE:WAGE) has “Outperform” rating given on Monday, April 4 by Leerink Swann. As per Friday, November 6, the company rating was maintained by Needham. The firm has “Market Outperform” rating given on Wednesday, August 10 by JMP Securities. The rating was maintained by Stifel Nicolaus on Thursday, June 9 with “Buy”.

The stock decreased 0.88% or $0.65 during the last trading session, hitting $73.3. Wageworks Inc (NYSE:WAGE) has risen 33.91% since April 27, 2016 and is uptrending. It has outperformed by 28.68% the S&P500.

Analysts await Wageworks Inc (NYSE:WAGE) to report earnings on February, 16. They expect $0.24 EPS, up 4.35% or $0.01 from last year’s $0.23 per share. WAGE’s profit will be $8.71 million for 76.35 P/E if the $0.24 EPS becomes a reality. After $0.21 actual EPS reported by Wageworks Inc for the previous quarter, Wall Street now forecasts 14.29% EPS growth.

Insitutional Activity: The institutional sentiment decreased to 1.23 in 2016 Q2. Its down 0.43, from 1.66 in 2016Q1. The ratio turned negative, as 15 funds sold all Wageworks Inc shares owned while 50 reduced positions. 38 funds bought stakes while 70 increased positions. They now own 37.10 million shares or 1.09% less from 37.50 million shares in 2016Q1.

Archford Capital Strategies Llc holds 0% of its portfolio in Wageworks Inc (NYSE:WAGE) for 88 shares. Lord Abbett & Company Ltd Liability owns 948,642 shares or 0.18% of their US portfolio. Capital World Invsts holds 400,000 shares or 0.01% of its portfolio. Voya Investment Management owns 15,843 shares or 0% of their US portfolio. The Pennsylvania-based Conestoga Advisors Ltd Liability Corp has invested 1.98% in Wageworks Inc (NYSE:WAGE). Royal Comml Bank Of Canada has invested 0.01% of its portfolio in Wageworks Inc (NYSE:WAGE). First Mercantile Tru owns 2,310 shares or 0.02% of their US portfolio. Assetmark has invested 0% of its portfolio in Wageworks Inc (NYSE:WAGE). Great West Life Assurance Co Can last reported 4,510 shares in the company. Croft holds 0.12% of its portfolio in Wageworks Inc (NYSE:WAGE) for 8,800 shares. Morgan Stanley has invested 0.01% of its portfolio in Wageworks Inc (NYSE:WAGE). Shaker Ltd Liability Oh owns 22,900 shares or 1.24% of their US portfolio. Eagle Asset holds 0.03% of its portfolio in Wageworks Inc (NYSE:WAGE) for 82,349 shares. Aqr Capital Mngmt Ltd Limited Liability Company last reported 0% of its portfolio in the stock. Loomis Sayles & L P owns 441,001 shares or 0.07% of their US portfolio.

Insider Transactions: Since June 1, 2016, the stock had 0 insider buys, and 2 sales for $877,480 net activity. Bodaken Bruce G. sold $728,800 worth of Wageworks Inc (NYSE:WAGE) on Monday, November 21. NAFUS EDWARD C sold $148,680 worth of stock or 2,000 shares. $1.19M worth of Wageworks Inc (NYSE:WAGE) was sold by Gramaglia Jerry on Wednesday, June 1.

WageWorks, Inc. is engaged in administering Consumer-Directed Benefits . The company has a market cap of $2.66 billion. The Firm 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. It has a 130.42 P/E ratio. The Company’s CDB programs assist employees and their families in saving money by using pre-tax dollars to pay for certain of their healthcare, dependent care and commuter expenses.

According to Zacks Investment Research, “WageWorks, Inc. is an on-demand provider of tax-advantaged programs for consumer-directed health, commuter and other employee spending account benefits, or CDBs, in the United States. The Company administers and operates an array of CDBs, including spending account management programs, such as health and dependent care flexible spending accounts, health savings accounts, health reimbursement arrangements and commuter benefits, such as transit and parking programs. The Company delivers its CDB programs through a benefits-as-a-service delivery model. WageWorks, Inc. is headquartered in San Mateo, California.”

WAGE Company Profile

WageWorks, Inc., incorporated on January 28, 2000, is engaged in administering Consumer-Directed Benefits (CDBs). The Firm 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. The Company’s CDB programs assist employees and their families in saving money by using pre-tax dollars to pay for certain of their healthcare, dependent care and commuter expenses. Employers financially benefit from its programs through reduced payroll taxes. The Firm provides operational support services to its clients and its cross-functional teams, including customer support and claims processing.

More notable recent Wageworks Inc (NYSE:WAGE) news were published by: Fool.com which released: “Acquisitions to Fuel Growth at WageWorks Inc.” on November 11, 2016, also Fool.com with their article: “WageWorks Inc. Sees Strong Growth Across All Core Business Lines” published on August 18, 2016, Quotes.Wsj.com published: “WageWorks Inc. WAGE (US: NYSE)” on August 04, 2011. More interesting news about Wageworks Inc (NYSE:WAGE) were released by: Fool.com and their article: “WageWorks Inc. Earnings Fueled by Demand for Health Savings Accounts” published on May 13, 2016 as well as Streetinsider.com‘s news article titled: “WageWorks (WAGE) to Acquire ADP’s (ADP) CHSA, COBRA Businesses” with publication date: November 01, 2016.

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