Zacks Investment Research upgraded shares of Wageworks (NYSE:WAGE) from a hold rating to a strong-buy rating in a research report released on Friday morning. They currently have $65.00 target price on the business services provider’s stock.
According to Zacks, “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. “
A number of other equities research analysts also recently weighed in on the company. ValuEngine downgraded Wageworks from a hold rating to a sell rating in a report on Tuesday, February 13th. Stifel Nicolaus reissued a buy rating and set a $80.00 target price (down previously from $85.00) on shares of Wageworks in a report on Thursday, November 9th. Finally, BidaskClub downgraded Wageworks from a sell rating to a strong sell rating in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $75.67.
In related news, Director John William Larson sold 30,500 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $63.76, for a total value of $1,944,680.00. Following the completion of the transaction, the director now owns 42,930 shares of the company’s stock, valued at $2,737,216.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.54% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB acquired a new position in Wageworks in the fourth quarter valued at about $237,000. Envestnet Asset Management Inc. raised its stake in Wageworks by 3.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 38,733 shares of the business services provider’s stock valued at $2,401,000 after purchasing an additional 1,225 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in Wageworks by 25.6% in the fourth quarter. Segall Bryant & Hamill LLC now owns 200,853 shares of the business services provider’s stock valued at $12,453,000 after purchasing an additional 40,908 shares in the last quarter. DF Dent & Co. Inc. raised its stake in Wageworks by 21.8% in the fourth quarter. DF Dent & Co. Inc. now owns 2,060,014 shares of the business services provider’s stock valued at $127,721,000 after purchasing an additional 369,296 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in Wageworks in the fourth quarter valued at about $1,146,000.
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WageWorks, Inc is engaged in administering Consumer-Directed Benefits (CDBs). The Company 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.
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