The stock of Wageworks Inc (NYSE:WAGE) reached all time high today, Nov, 10 and still has $90.36 target or 29.00% above today’s $70.05 share price. This indicates more upside for the $2.68B company. This technical setup was reported by Barchart.com. If the $90.36 PT is reached, the company will be worth $777.20 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 200,612 shares traded hands. Wageworks Inc (NYSE:WAGE) has risen 33.47% since April 8, 2016 and is uptrending. It has outperformed by 27.82% the S&P500.
Wageworks Inc (NYSE:WAGE) Ratings Coverage
Out of 6 analysts covering WageWorks Inc (NYSE:WAGE), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. WageWorks Inc has been the topic of 11 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of Wageworks Inc (NYSE:WAGE) has “Buy” rating given on Thursday, June 9 by Standpoint Research. As per Friday, February 19, the company rating was maintained by Needham. The stock has “Buy” rating given by Sidoti on Wednesday, October 14. Needham maintained the shares of WAGE in a report on Thursday, November 10 with “Buy” rating. On Wednesday, August 10 the stock rating was maintained by JMP Securities with “Market Outperform”. The stock of Wageworks Inc (NYSE:WAGE) has “Outperform” rating given on Monday, April 4 by Leerink Swann. The stock of Wageworks Inc (NYSE:WAGE) has “Buy” rating given on Thursday, June 9 by Stifel Nicolaus. The company was maintained on Friday, November 6 by Needham. The firm earned “Buy” rating on Friday, May 6 by Stifel Nicolaus.
According to Zacks Investment Research, “WageWorks, Inc. is an on-demand provider of tax-advantaged programs for consumer-directed health, commuter and other employee spending account benefits, or CDBs, in the United States. The Company administers and operates an array of CDBs, including spending account management programs, such as health and dependent care flexible spending accounts, health savings accounts, health reimbursement arrangements and commuter benefits, such as transit and parking programs. The Company delivers its CDB programs through a benefits-as-a-service delivery model. WageWorks, Inc. is headquartered in San Mateo, California.”
Insitutional Activity: The institutional sentiment increased to 1.66 in 2016 Q2. Its up 0.28, from 1.38 in 2016Q1. The ratio increased, as 15 funds sold all Wageworks Inc shares owned while 50 reduced positions. 38 funds bought stakes while 70 increased positions. They now own 37.10 million shares or 1.09% less from 37.50 million shares in 2016Q1.
Moreover, Texas Permanent School Fund has 0.02% invested in Wageworks Inc (NYSE:WAGE) for 27,703 shares. Granite Investment Partners Limited Liability Corp last reported 18,744 shares in the company. Stephens Inc Ar accumulated 0.02% or 8,035 shares. Tcw Grp has invested 0.01% of its portfolio in Wageworks Inc (NYSE:WAGE). Jpmorgan Chase & Co last reported 0% of its portfolio in the stock. Proshare Advsrs Lc last reported 0% of its portfolio in the stock. Fdx Advsrs accumulated 0.02% or 6,212 shares. Ls Inv Limited Com owns 1,346 shares or 0.01% of their US portfolio. Victory Cap Mngmt Inc accumulated 0% or 1,585 shares. Aqr Cap Mgmt Limited Liability Company, a Connecticut-based fund reported 3,950 shares. Hsbc Hldgs Public Lc last reported 0% of its portfolio in the stock. Fortaleza Asset Mgmt holds 0.11% of its portfolio in Wageworks Inc (NYSE:WAGE) for 2,245 shares. Products Prtnrs Ltd holds 0.19% or 40,348 shares in its portfolio. Fifth Third National Bank & Trust holds 0% of its portfolio in Wageworks Inc (NYSE:WAGE) for 2,184 shares. Advisory Svcs Networks Limited Liability Company holds 0% or 59 shares in its portfolio.
Insider Transactions: Since May 11, 2016, the stock had 0 buys, and 3 sales for $6.72 million net activity. 3,442 Wageworks Inc (NYSE:WAGE) shares with value of $194,611 were sold by NAFUS EDWARD C. Jackson Joseph L. sold $5.34M worth of stock. The insider Gramaglia Jerry sold 21,075 shares worth $1.19M. On Wednesday, May 11 LARSON JOHN WILLIAM sold $2.78M worth of the stock or 49,250 shares.
More news for Wageworks Inc (NYSE:WAGE) were recently published by: Fool.com, which released: “WageWorks Inc. Sees Strong Growth Across All Core Business Lines” on August 18, 2016. Streetinsider.com‘s article titled: “WageWorks (WAGE) to Acquire ADP’s (ADP) CHSA, COBRA Businesses” and published on November 01, 2016 is yet another important article.
WAGE Company Profile
WageWorks, Inc., incorporated on January 28, 2000, is engaged in administering Consumer-Directed Benefits (CDBs). The Firm 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. The Company’s CDB programs assist employees and their families in saving money by using pre-tax dollars to pay for certain of their healthcare, dependent care and commuter expenses. Employers financially benefit from its programs through reduced payroll taxes. The Firm provides operational support services to its clients and its cross-functional teams, including customer support and claims processing.
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