November 30, 2016 - By Vivian Park
The financial firm Chardan Capital has has initiated coverage on WageWorks (WAGE)‘s stock, rating it a Buy while setting the target price at $86.0.
The stock decreased 0.88% or $0.65 during the last trading session, hitting $73.3. Wageworks Inc (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 Q2 2016. Its down 0.43, from 1.66 in 2016Q1. The ratio worsened, 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.
Capstone Asset Mngmt accumulated 10,913 shares or 0.02% of the stock. Price T Rowe Associate Md last reported 0% of its portfolio in the stock. Kalmar Invs De last reported 593,989 shares in the company. Stephens Investment Management Grp Inc Llc last reported 822,431 shares in the company. Blackrock Ltd has invested 0% of its portfolio in Wageworks Inc (NYSE:WAGE). Shaker Investments Limited Liability Corp Oh has 22,900 shares for 1.24% of their US portfolio. Nationwide Fund accumulated 0.03% or 113,985 shares. Parametric Associates Ltd Liability Company, a Washington-based fund reported 147,112 shares. Tci Wealth Advsrs holds 0% or 31 shares in its portfolio. Advisory Ser Network Lc last reported 59 shares in the company. Gemmer Asset Mgmt Ltd Llc holds 102 shares or 0% of its portfolio. Blackrock Institutional Tru Na, a California-based fund reported 914,366 shares. Kornitzer Cap Management Ks accumulated 0.39% or 360,585 shares. Tower Research Limited Com (Trc) owns 895 shares or 0.01% of their US portfolio. Raymond James & Assocs holds 0.01% of its portfolio in Wageworks Inc (NYSE:WAGE) for 53,148 shares.
Insider Transactions: Since June 1, 2016, the stock had 0 insider buys, and 2 insider sales for $877,480 net activity. The insider Gramaglia Jerry sold 21,075 shares worth $1.19 million. $148,680 worth of Wageworks Inc (NYSE:WAGE) was sold by NAFUS EDWARD C. 10,000 shares were sold by Bodaken Bruce G., worth $728,800.
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.”
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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By Vivian Park