WageWorks, Inc. (WAGE) Updates Q3 Earnings Guidance

WageWorks, Inc. (NYSE:WAGE) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.38-0.41 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.42. The company issued revenue guidance of $115.0-117.5 million, compared to the consensus revenue estimate of $118.64 million.WageWorks also updated its FY17 guidance to $1.70-1.75 EPS.

WageWorks, Inc. (NYSE WAGE) traded up 0.09% during mid-day trading on Friday, reaching $57.55. The company had a trading volume of 271,745 shares. The stock has a 50 day moving average of $64.14 and a 200 day moving average of $70.73. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 52.56 and a beta of 0.86. WageWorks, Inc. has a 52 week low of $55.65 and a 52 week high of $80.50.

WageWorks (NYSE:WAGE) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.11. The company had revenue of $119.90 million for the quarter, compared to analyst estimates of $119.18 million. WageWorks had a return on equity of 9.52% and a net margin of 9.60%. The business’s quarterly revenue was up 36.7% on a year-over-year basis. During the same period last year, the firm posted $0.36 EPS. Analysts anticipate that WageWorks, Inc. will post $1.75 earnings per share for the current year.

A number of equities analysts have weighed in on the company. Stifel Nicolaus reissued a buy rating and set a $85.00 price objective on shares of WageWorks in a research note on Monday, July 17th. Zacks Investment Research raised WageWorks from a hold rating to a buy rating and set a $79.00 price objective on the stock in a research note on Wednesday, May 10th. BidaskClub lowered WageWorks from a sell rating to a strong sell rating in a research note on Wednesday, June 14th. Finally, TheStreet upgraded WageWorks from a c+ rating to a b rating in a research report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $80.04.

In other WageWorks news, CEO Joseph L. Jackson sold 495,148 shares of WageWorks stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $69.25, for a total value of $34,288,999.00. Following the sale, the chief executive officer now owns 103,363 shares in the company, valued at $7,157,887.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Edgar O. Montes sold 50,000 shares of WageWorks stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $69.25, for a total value of $3,462,500.00. Following the completion of the sale, the chief operating officer now owns 71,895 shares in the company, valued at approximately $4,978,728.75. The disclosure for this sale can be found here. 3.54% of the stock is owned by insiders.

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About WageWorks

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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