Wageworks Inc (NYSE:WAGE) Sees Large Decrease in Short Interest
Wageworks Inc (NYSE:WAGE) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 772,300 shares, a decline of 18.5% from the May 30th total of 947,400 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily volume of 723,100 shares, the short-interest ratio is presently 1.1 days.
Several research analysts have recently weighed in on WAGE shares. Zacks Investment Research restated a “hold” rating on shares of Western New England Bancorp in a report on Saturday, June 29th. SunTrust Banks lowered shares of Wageworks from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. William Blair reaffirmed a “market perform” rating on shares of Paychex in a research report on Thursday, June 27th. JMP Securities lowered shares of Wageworks from an “outperform” rating to a “market perform” rating in a research report on Friday, June 28th. Finally, Wells Fargo & Co lowered shares of Mylan from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $33.00 to $22.00 in a research report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $55.67.
Shares of WAGE stock traded up $0.02 during trading on Friday, hitting $50.90. 387,253 shares of the stock traded hands, compared to its average volume of 1,069,639. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 62.05 and a beta of 1.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.43 and a quick ratio of 1.43. The firm’s fifty day moving average price is $51.03. Wageworks has a 52-week low of $25.15 and a 52-week high of $56.80.
WageWorks, Inc is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to 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), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits.
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