Wageworks (WAGE) Coverage Initiated at William Blair

William Blair started coverage on shares of Wageworks (NYSE:WAGE) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating on the business services provider’s stock.

Other equities research analysts have also recently issued reports about the company. ValuEngine cut Wageworks from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. TheStreet lowered shares of Wageworks from a “b-” rating to a “c+” rating in a research note on Wednesday, March 7th. Zacks Investment Research lowered shares of Wageworks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 26th. JMP Securities reaffirmed an “outperform” rating and issued a $60.00 price target (down from $82.00) on shares of Wageworks in a research note on Monday, April 9th. Finally, Needham & Company LLC began coverage on shares of Wageworks in a research note on Friday, April 6th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $69.80.

NYSE:WAGE opened at $47.45 on Wednesday. Wageworks has a 52 week low of $38.40 and a 52 week high of $74.40. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $1.78 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 1.67 and a beta of 0.97.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Wageworks by 0.5% in the 1st quarter. BlackRock Inc. now owns 5,141,584 shares of the business services provider’s stock worth $232,400,000 after purchasing an additional 24,355 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in Wageworks by 10.6% in the 4th quarter. TimesSquare Capital Management LLC now owns 2,891,844 shares of the business services provider’s stock worth $179,294,000 after purchasing an additional 276,665 shares in the last quarter. DF Dent & Co. Inc. lifted its stake in Wageworks by 21.8% in the 4th quarter. DF Dent & Co. Inc. now owns 2,060,014 shares of the business services provider’s stock worth $127,721,000 after purchasing an additional 369,296 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Wageworks by 13.9% in the 4th quarter. Eagle Asset Management Inc. now owns 1,143,459 shares of the business services provider’s stock worth $70,649,000 after purchasing an additional 139,169 shares in the last quarter. Finally, Fred Alger Management Inc. lifted its stake in Wageworks by 2.7% in the 4th quarter. Fred Alger Management Inc. now owns 1,044,153 shares of the business services provider’s stock worth $64,737,000 after purchasing an additional 27,400 shares in the last quarter.

Wageworks Company Profile

WageWorks, Inc engages in administering consumer-directed benefits (CDBs), which empower employees to save money on taxes, as well as provides corporate tax advantages for employers in the United States. It administers CDBs, 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 offers commuter benefit services, including transit and parking programs, wellness programs, Consolidated Omnibus Budget Reconciliation Act, and other employee benefits.

Analyst Recommendations for Wageworks (NYSE:WAGE)

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