WageWorks (WAGE) PT Raised to $65 at Needham & Company

November 6, 2013 7:01 AM EST Send to a Friend
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Price: $57.08 -0.64%

Rating Summary:
    4 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 12 | Down: 48 | New: 12
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Needham & Company analyst Michael Huang reiterated a Buy rating and raised his price target on WageWorks (NYSE: WAGE) from $40 to $65 following Q3 results.

Huang comments, "Management was upbeat across the board highlighted by record enterprise sales activity, new partner wins, strong Ceridian migration activity, ramping midmarket activity, early positive client feedback on the reduced Use It Or Lose It provision - all of which could suggest that organic revenue growth rate could continue to accelerate."

The firm trimmed FY 2013 EPS from $0.73 to $0.72 and bumped FY 2014 EPS from $0.84 to $0.86.

For an analyst ratings summary and ratings history on WageWorks click here. For more ratings news on WageWorks click here.

Shares of WageWorks closed at $55.20 yesterday.

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