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Last $44.11 USD
Change Today +0.42 / 0.96%
Volume 300.4K
WAGE On Other Exchanges
New York
As of 8:04 PM 07/30/15 All times are local (Market data is delayed by at least 15 minutes).

wageworks inc (WAGE) Snapshot

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52 Week High
01/2/15 - $65.56
52 Week Low
05/12/15 - $38.19
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Current Stock Chart for WAGEWORKS INC (WAGE)

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wageworks inc (WAGE) Details

WageWorks, Inc. provides consumer-directed benefits programs (CDBs) to employees to save money on taxes in the United States. It offers flexible spending accounts (FSAs) that are employer-sponsored CDBs, which enable employees to set aside pre-tax dollars to pay for eligible healthcare expenses, such as co-pays, deductibles, and over-the-counter medical products, as well as for vision expenses, orthodontia, medical devices, and autism treatments. The company also provides FSA programs for dependent care plans that allow employees to set aside pre-tax dollars to pay for eligible dependent care expenses, which include child, day, adult, and elder care expenses. In addition, it offers employer-funded health reimbursement arrangements (HRAs) in which employers provide their employees with a specified amount of reimbursement funds that are available to help employees defray their out-of-pocket healthcare expenses comprising deductibles, co-insurance, and co-payments; and administers health savings accounts for employers that allow employee participants to invest funds to be used for qualified healthcare expenses at any time without federal tax liability or penalty. Further, it offers transportation fringe benefits consisting of parking; transit passes; transportation in a commuter highway vehicle or vanpooling; and bicycle commuting reimbursement. Additionally, it provides Consolidated Omnibus Budget Reconciliation Act (COBRA) continuation services to employer clients to meet the employer’s obligation to make available continuation of coverage for participants, who are no longer eligible for the employer’s COBRA covered benefits, including medical, dental, vision, HRAs, and certain healthcare FSAs. The company was incorporated in 2000 and is headquartered in San Mateo, California.

1,548 Employees
Last Reported Date: 02/26/15
Founded in 2000

wageworks inc (WAGE) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $639.6K
Chief Financial Officer
Total Annual Compensation: $108.8K
Chief Operating Officer
Total Annual Compensation: $335.8K
Senior Vice President, General Counsel and Co...
Total Annual Compensation: $317.9K
Compensation as of Fiscal Year 2014.

wageworks inc (WAGE) Key Developments

WageWorks, Inc. to Report Q2, 2015 Results on Jul 30, 2015

WageWorks, Inc. announced that they will report Q2, 2015 results at 5:00 PM, US Eastern Standard Time on Jul 30, 2015

WageWorks, Inc., Q2 2015 Earnings Call, Jul 30, 2015

WageWorks, Inc., Q2 2015 Earnings Call, Jul 30, 2015

WageWorks, Inc. Enters Amend and Restated Credit Agreement

On June 5, 2015, WageWorks, Inc. entered into an Amended and Restated Credit Agreement, by and among the Company, the guarantors from time to time party thereto, the lenders from time to time party thereto, and MUFG Union Bank, N.A., as administrative agent (Agent). The Credit Agreement amends and restates the Company's existing Credit Agreement, dated as of December 31, 2012, by and among the Company, MHM Resources, LLC, Benefit Concepts Inc. of Rhode Island and Agent. The Credit Agreement provides for a $150.0 million revolving credit facility, with a $15.0 million letter of credit subfacility. The Credit Agreement contains an increase option permitting the Company, subject to certain requirements, to arrange with existing lenders and/or new lenders to provide up to an aggregate of $100.0 million in additional commitments. Loan proceeds may be used for general corporate purposes, including acquisitions permitted under the Credit Agreement. The Company may prepay loans under the Credit Agreement in whole or in part at any time without premium or penalty. At June 5, 2015, the Company had outstanding revolving loans in an aggregate principal amount of $79.6 million under the Credit Agreement and undrawn letters of credit in an aggregate principal amount of approximately $3.0 million. The loans bear interest, at the Company's option, at (i) a LIBOR rate determined in accordance with the Credit Agreement, plus a margin of 1.25% to 1.75%, with such margin determined based on the Company's consolidated leverage ratio for the preceding four fiscal quarter period, or (ii) a base rate determined in accordance with the Credit Agreement. Interest is due and payable in arrears quarterly for base rate loans and at the end of an interest period for LIBOR rate loans. Principal, together with all accrued and unpaid interest, is due and payable on June 5, 2020. The Company is also obligated to pay other customary closing fees, commitment fees and letter of credit fees for a facility of this size and type. The Company's obligations under the Credit Agreement are secured by substantially all of the Company's assets. All of the Company's future material domestic subsidiaries are required to guaranty its obligations under the Credit Agreement. The guarantees by future material domestic subsidiaries are and will be secured by substantially all of the assets of such subsidiaries. The Credit Agreement requires that the Company maintain compliance with (i) a ratio of consolidated indebtedness to consolidated adjusted EBITDA for the twelve month period ending as of the end of each fiscal quarter of not greater than 3.00 to 1.00 and (ii) a ratio of consolidated adjusted EBITDA for the twelve month period ending as of the end of each fiscal quarter of not less than 1.50 to 1.00. The Credit Agreement contains customary affirmative and negative covenants, including, among others, covenants limiting the ability of the Company and its subsidiaries to grant liens, make investments, make acquisitions, incur indebtedness, make certain restricted payments, merge or consolidate, dispose of assets, and enter into transactions with affiliates, in each case subject to customary exceptions. Upon an event of default, the lenders may declare the outstanding obligations payable by the Company to be immediately due and payable and exercise other rights and remedies provided for under the credit facility. The events of default under the Credit Agreement include, among others, payment defaults, covenant defaults, inaccuracy of representations and warranties, cross-defaults to other material indebtedness, judgment defaults, a change of control default and bankruptcy and insolvency defaults. Under certain circumstances, a default interest rate will apply on all obligations during the existence of an event of default under the Credit Agreement at a per annum rate of interest equal to 2.00% above the applicable interest rate.


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Industry Average

Valuation WAGE Industry Range
Price/Earnings 91.3x
Price/Sales 5.3x
Price/Book 5.3x
Price/Cash Flow 35.1x
TEV/Sales 3.5x

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