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Last $49.95 USD
Change Today +5.84 / 13.24%
Volume 479.4K
WAGE On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

1100 Park Place

4th Floor

San Mateo, CA 94403

United States

Phone: 650-577-5200

Fax:

WageWorks, Inc. provides consumer-directed benefits programs (CDBs) to employees to save money on taxes in the United States. The company administers CDBs, including pre-tax spending accounts, such as health and dependent care flexible spending accounts (FSAs), health savings accounts (HSAs), health reimbursement arrangements (HRAs), and commuter benefit services, including transit and parking programs, wellness programs, and other employee spending account benefits, in the United States. The company also administers Consolidated Omnibus Budget Reconciliation Act (COBRA) continuation services to employer clients. The company markets and sells its CDB programs through multiple channels, including direct sales to large enterprises, direct sales and through brokers to small-and medium-sized businesses (SMBs), direct sales to industry purchasing and affiliate groups, through channel partners and within private exchanges. The company’s enterprise sales force targets Fortune 1000 companies and generates new large account relationships through employer prospecting, consultant relationships and strategic partnerships. The company’s SMB distribution channel complements its enterprise sales channel. It consists of third-party advisors and institutional brokers that sell its CDB programs along with their own complementary products to SMBs. The company completed the portfolio purchase of Crosby Benefit Systems, Inc. in 2013 and the acquisition of CONEXIS Benefits Administrators, LP in 2014. Services FSAs Healthcare The company offers FSAs, which are employer-sponsored CDBs that enable employees to set aside pre-tax dollars to pay for eligible healthcare expenses that are not generally covered by insurance, such as co-pays, deductibles and over-the-counter medical products, as well as vision expenses, orthodontia, medical devices and autism treatments. Employers benefit from payroll tax savings on the pre-tax FSA contributions from the employee. Dependent Care The company also offers FSA programs for dependent care plans. These plans allow employees to set aside pre-tax dollars to pay for eligible dependent care expenses, which include child care or day care expenses and might also include expenses incurred from adult and elder care. HRAs The company offers employer-funded HRAs. Under HRAs, employers provide their employees with a specified amount of reimbursement funds that are available to help employees defray their out-of-pocket healthcare expenses, such as deductibles, co-insurance and co-payments. HSAs The company also administers HSAs 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. Such funds are also exempt from payroll taxes for employers. Both employees and employers could make contributions to an HSA. HSA funds are held by a custodian, accumulate year-to-year if not spent and are portable if a participant leaves his employer. The company’s HSA programs are designed to offer employers a choice of third party custodian to hold the funds, as well as various investment options within each custodial offering that enables employers the opportunity to explore an assortment of funds to offer their employees. Commuter Programs The company also offers qualified transportation fringe benefits. The federal tax code permits employers to provide various commuter benefits to employees on a tax-free basis, such as qualified parking; transit passes; transportation in a commuter highway vehicle, or vanpooling, if such transportation is in connection with travel between the employee’s residence and place of employment; and qualified bicycle commuting reimbursement. The company offers five variations of pre-tax commuter benefit programs, such as Commuter Order Model (COM), Commuter Account Model (CAM), Commuter Express, TransitChek Premium and TransitChek Basic. Under the company’s COM, which it targets to medium-sized and larger enterprise clients, employees place orders for transit, vanpool or parking benefits through its Website or its toll-free customer service center. Emplo

 

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Industry Analysis

WAGE

Industry Average

Valuation WAGE Industry Range
Price/Earnings 100.0x
Price/Sales 5.7x
Price/Book 5.8x
Price/Cash Flow 30.1x
TEV/Sales 3.9x
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