WageWorks, Inc. (WAGE) Releases Q3 Earnings Guidance

WageWorks, Inc. (NYSE:WAGE) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.38-0.41 for the period, compared to the Thomson Reuters consensus 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.

Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of WageWorks from a hold rating to a strong sell rating in a research note on Tuesday, August 8th. BidaskClub downgraded shares of WageWorks from a sell rating to a strong sell rating in a research note on Wednesday, June 14th. Stifel Nicolaus reaffirmed a buy rating and issued a $85.00 price target on shares of WageWorks in a research note on Monday, July 17th. Finally, TheStreet raised shares of WageWorks from a c+ rating to a b rating in a research note on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $80.04.

Shares of WageWorks, Inc. (NYSE:WAGE) traded up 0.43% on Friday, reaching $58.25. 302,911 shares of the company’s stock traded hands. The firm has a market capitalization of $2.31 billion, a P/E ratio of 53.20 and a beta of 0.86. The firm’s 50 day moving average is $62.87 and its 200 day moving average is $70.24. WageWorks, Inc. has a 52 week low of $55.65 and a 52 week high of $80.50.

WageWorks (NYSE:WAGE) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 9.60% and a return on equity of 9.52%. The firm’s revenue was up 36.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 EPS. Analysts expect that WageWorks, Inc. will post $1.75 earnings per share for the current fiscal year.

In other WageWorks news, COO Edgar O. Montes sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $69.25, for a total value of $3,462,500.00. Following the sale, the chief operating officer now directly owns 71,895 shares of the company’s stock, valued at approximately $4,978,728.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joseph L. Jackson sold 495,148 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 103,363 shares in the company, valued at $7,157,887.75. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by company 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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