Wells Fargo Downgrades Wageworks Inc to Market Perform

Brokerage firm Wells Fargo Downgrades its rating on Wageworks Inc(WAGE). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by the stock financial advisor at Wells Fargo was issued on Mar 27, 2017 in a research report to their Investors and Clients.

Wageworks Inc (WAGE) shares turned negative on Fridays trading session with the shares closing down -1.4 points or -1.84% at a volume of 2,37,912. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $76. The peak price level was also seen at $76 while the days lowest was $74.1. Finally the shares closed at $74.5. The 52-week high of the shares is $80.5 while the 52-week low is $47.9101. According to the latest information available, the market cap of the company is $2,763 M.

Wageworks Inc(WAGE) last announced its earnings results on Feb 23, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $101.062M. Analysts had an estimated revenue of $103.850M. Earnings per share were $0.36. Analysts had estimated an EPS of $0.35.

Several Insider Transactions has been reported to the SEC. On Dec 15, 2016, Joseph L. Jackson (Chief Executive Officer) sold 87,749 shares at $72.43 per share price.Also, 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.

Add Comment