Wageworks Inc (WAGE) was Initiated by Chardan Capital Markets to “Buy” and the brokerage firm has set the Price Target at $86. Chardan Capital Markets advised their investors in a research report released on Nov 30, 2016.
Many Wall Street Analysts have commented on Wageworks Inc. Company shares were Reiterated by Needham on Nov 10, 2016 to “Buy”, Firm has raised the Price Target to $ 74 from a previous price target of $65 .
On the company’s financial health, Wageworks Inc reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 9, 2016. Analyst had a consensus of $0.33. The company had revenue of $88.90 million for the quarter, compared to analysts expectations of $87.51 million. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.
Wageworks Inc closed down -0.65 points or -0.88% at $73.3 with 2,47,776 shares getting traded on Tuesday. Post opening the session at $74.05, the shares hit an intraday low of $73.25 and an intraday high of $74.95 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on May 24, 2016, Joseph L. Jackson (Chief Executive Officer) sold 96,081 shares at $55.73 per share price. According to the SEC, on May 11, 2016, Kimberly L. Wilford (General Counsel) sold 40,000 shares at $56.97 per share price. On Mar 11, 2016, Edgar O. Montes (Chief Operating Officer) sold 25,000 shares at $47.13 per share price, according to the Form-4 filing with the securities and exchange commission.
WageWorks Inc. is engaged in administering Consumer-Directed Benefits (CDBs) which empower employees to save money on taxes while also providing corporate tax advantages for employers. The Company is focused on 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) Commuter Benefit Services including transit and parking programs wellness programs COBRA and other employee benefits.