Rating To Observe: Is WageWorks (NYSE:WAGE) a Stock to Watch After Chardan Capital Initiation?

November 30, 2016 - By Peter Kolinski

Rating To Observe: Is WageWorks (NYSE:WAGE) a Stock to Watch After Chardan Capital Initiation?

Why Chardan Capital Gives WageWorks (NYSE:WAGE) $86.00 Price Target

In a an analyst note made public on Wednesday, 30 November, stock analysts at Chardan Capital has begun coverage on shares of WageWorks (NYSE:WAGE). The firm set a “Buy” rating with $86.00, giving 16.29% to target.

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 -10.30% below today’s ($73.95) stock price. WageWorks Inc has been the topic of 11 analyst reports since August 3, 2015 according to StockzIntelligence Inc. On Wednesday, August 10 the stock rating was maintained by JMP Securities with “Market Outperform”. As per Friday, February 19, the company rating was maintained by Needham. The stock of Wageworks Inc (NYSE:WAGE) has “Buy” rating given on Thursday, June 9 by Stifel Nicolaus. On Wednesday, October 14 the stock rating was initiated by Sidoti with “Buy”. The stock of Wageworks Inc (NYSE:WAGE) has “Buy” rating given on Friday, November 6 by Needham. The firm earned “Buy” rating on Thursday, June 9 by Standpoint Research. As per Monday, April 4, the company rating was maintained by Leerink Swann. The firm has “Buy” rating by Stifel Nicolaus given on Friday, May 6. The rating was maintained by Needham with “Buy” on Thursday, November 10.

About 104,853 shares traded hands. 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 $8.73 million for 77.03 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 fall, 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.

Ww Investors, a California-based fund reported 400,000 shares. Lord Abbett & Co Ltd reported 948,642 shares or 0.18% of all its holdings. Huntington Bancorporation, a Ohio-based fund reported 531 shares. Quantbot Technology Lp accumulated 2,053 shares or 0.01% of the stock. Teacher Retirement System Of Texas has invested 0% of its portfolio in Wageworks Inc (NYSE:WAGE). Ahl Prns Llp holds 0.07% or 20,438 shares in its portfolio. Moreover, Blackrock Institutional Communications Na has 0.01% invested in Wageworks Inc (NYSE:WAGE) for 914,366 shares. Blackrock Fund Advsr accumulated 2.34 million shares or 0.03% of the stock. Moreover, Cohen Cap Management has 0.11% invested in Wageworks Inc (NYSE:WAGE) for 6,498 shares. Palisade Cap Mgmt Lc Nj accumulated 130,650 shares or 0.28% of the stock. Tci Wealth Advsrs Incorporated has 31 shares for 0% of their US portfolio. Teachers Retirement Of The State Of Kentucky reported 28,550 shares or 0.02% of all its holdings. Employees Retirement System Of Texas has invested 0.03% of its portfolio in Wageworks Inc (NYSE:WAGE). Blackrock Advsr Llc accumulated 0% or 17,219 shares. The Alabama-based Croft has invested 0.12% in Wageworks Inc (NYSE:WAGE).

Insider Transactions: Since June 1, 2016, the stock had 0 insider buys, and 2 sales for $877,480 net activity. 21,075 shares were sold by Gramaglia Jerry, worth $1.19 million. On Monday, November 21 Bodaken Bruce G. sold $728,800 worth of the stock or 10,000 shares. On Monday, November 28 NAFUS EDWARD C sold $148,680 worth of the stock or 2,000 shares.

WageWorks, Inc. is engaged in administering Consumer-Directed Benefits . The company has a market cap of $2.69 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 131.58 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 important 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 published article titled: “WageWorks Inc. Sees Strong Growth Across All Core Business Lines”, Fool.com published: “WageWorks Inc. Earnings Fueled by Demand for Health Savings Accounts” on May 13, 2016. More interesting news about Wageworks Inc (NYSE:WAGE) was released by: Streetinsider.com and their article: “WageWorks (WAGE) to Acquire ADP’s (ADP) CHSA, COBRA Businesses” with publication date: November 01, 2016.

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