Wageworks Inc (WAGE) Given Average Rating of “Hold” by Brokerages

Shares of Wageworks Inc (NYSE:WAGE) have received an average recommendation of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $55.00.

WAGE has been the topic of several recent research reports. SunTrust Banks lowered their price target on shares of Wageworks to $56.00 and set a “buy” rating on the stock in a research note on Thursday, September 13th. Zacks Investment Research downgraded Wageworks from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 18th. JMP Securities downgraded Wageworks from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 13th. Finally, Wells Fargo & Co set a $45.00 target price on Wageworks and gave the company a “hold” rating in a research report on Tuesday, October 16th.

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in Wageworks by 218.5% during the second quarter. FMR LLC now owns 2,178,770 shares of the business services provider’s stock worth $108,938,000 after buying an additional 1,494,766 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Wageworks by 7.9% during the 2nd quarter. BlackRock Inc. now owns 5,548,500 shares of the business services provider’s stock worth $277,424,000 after acquiring an additional 406,916 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Wageworks by 28.3% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,842,771 shares of the business services provider’s stock worth $92,139,000 after acquiring an additional 406,305 shares during the last quarter. Fred Alger Management Inc. increased its holdings in shares of Wageworks by 24.1% during the 2nd quarter. Fred Alger Management Inc. now owns 1,494,670 shares of the business services provider’s stock worth $74,734,000 after acquiring an additional 290,577 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Wageworks by 220.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 418,718 shares of the business services provider’s stock worth $18,926,000 after acquiring an additional 287,985 shares during the last quarter.

WAGE stock traded down $1.62 during midday trading on Monday, hitting $38.38. The company’s stock had a trading volume of 212,516 shares, compared to its average volume of 243,628. Wageworks has a twelve month low of $37.86 and a twelve month high of $65.75. The firm has a market capitalization of $1.62 billion, a P/E ratio of 32.71 and a beta of 1.29.

Wageworks Company Profile

WageWorks, Inc engages in the provision of consumer-directed benefits. It offers health card programs, health savings account, pre-tax spending accounts, medical and dental reimbursement arrangements, and transit and parking programs. The company was founded by Clem O’Donnell and Jon Kessler on January 28, 2000 and is headquartered in San Mateo, CA.

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Analyst Recommendations for Wageworks (NYSE:WAGE)

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