WageWorks, Inc. (NYSE:WAGE) Updates FY17 Earnings Guidance

WageWorks, Inc. (NYSE:WAGE) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.70-1.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.75. The company issued revenue guidance of $479-484 million, compared to the consensus revenue estimate of $482.85 million.WageWorks also updated its Q3 guidance to $0.38-0.41 EPS.

Shares of WageWorks, Inc. (NYSE WAGE) traded up 0.43% during midday trading on Friday, reaching $58.25. 302,911 shares of the company were exchanged. The firm has a 50-day moving average of $62.87 and a 200 day moving average of $70.24. The firm has a market capitalization of $2.31 billion, a P/E ratio of 53.20 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 issued its earnings results on Tuesday, August 1st. The business services provider reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.11. The firm had revenue of $119.90 million during 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% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. On average, equities research analysts expect that WageWorks, Inc. will post $1.75 EPS for the current year.

Several brokerages recently weighed in on WAGE. Zacks Investment Research cut shares of WageWorks from a strong-buy rating to a hold rating in a report on Friday, July 7th. BidaskClub cut shares of WageWorks from a sell rating to a strong sell rating in a report on Wednesday, June 14th. Stifel Nicolaus reaffirmed a buy rating and issued a $85.00 target price on shares of WageWorks in a report on Monday, July 17th. Finally, TheStreet raised shares of WageWorks from a c+ rating to a b rating in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $80.04.

In other WageWorks news, COO Edgar O. Montes sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $69.25, for a total transaction of $3,462,500.00. Following the sale, the chief operating officer now owns 71,895 shares of the company’s stock, valued at $4,978,728.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph L. Jackson sold 495,148 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $69.25, for a total transaction of $34,288,999.00. Following the sale, the chief executive officer now directly owns 103,363 shares in the company, valued at approximately $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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WageWorks Company Profile

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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