Stifel Nicolaus cut shares of Wageworks (NYSE:WAGE) from a buy rating to a hold rating in a research report report published on Monday morning, 24/7 WallStreet reports. They currently have $51.00 price objective on the business services provider’s stock.
A number of other analysts have also recently commented on the stock. Zacks Investment Research reissued a hold rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. William Blair reissued a market perform rating on shares of Paychex in a research note on Thursday, June 27th. Wells Fargo & Co cut shares of Mylan from an outperform rating to a market perform rating and cut their target price for the stock from $33.00 to $22.00 in a research note on Tuesday, May 7th. JMP Securities cut shares of Wageworks from an outperform rating to a market perform rating in a research note on Friday, June 28th. Finally, SunTrust Banks cut shares of Wageworks from a buy rating to a hold rating in a research note on Friday, June 28th. Six research analysts have rated the stock with a hold rating, The stock has an average rating of Hold and an average price target of $54.50.
WAGE stock opened at $50.80 on Monday. The stock has a market capitalization of $2.03 billion, a PE ratio of 62.00 and a beta of 1.43. The stock’s 50-day moving average is $51.12. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.32. Wageworks has a 52 week low of $25.15 and a 52 week high of $56.80.
Several hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP grew its stake in Wageworks by 30.0% during the 1st quarter. Royce & Associates LP now owns 1,290 shares of the business services provider’s stock valued at $49,000 after acquiring an additional 298 shares in the last quarter. Quantamental Technologies LLC grew its stake in Wageworks by 109.6% during the 1st quarter. Quantamental Technologies LLC now owns 4,587 shares of the business services provider’s stock valued at $173,000 after acquiring an additional 2,399 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Wageworks during the 1st quarter valued at about $226,000. OLD National Bancorp IN purchased a new stake in Wageworks during the 1st quarter valued at about $227,000. Finally, Private Advisors LLC purchased a new stake in Wageworks during the 1st quarter valued at about $248,000. 98.75% of the stock is owned by institutional investors and hedge funds.
Wageworks Company Profile
WageWorks, Inc is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits.
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