Public Sector Pension investment Board lowered its holdings in shares of WageWorks, Inc. (NYSE:WAGE) by 28.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,074 shares of the business services provider’s stock after selling 7,500 shares during the period. Public Sector Pension investment Board’s holdings in WageWorks were worth $1,282,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of WAGE. First Trust Advisors LP boosted its stake in WageWorks by 30.4% during the first quarter. First Trust Advisors LP now owns 31,167 shares of the business services provider’s stock worth $2,253,000 after acquiring an additional 7,275 shares in the last quarter. US Bancorp DE boosted its stake in WageWorks by 14.2% during the first quarter. US Bancorp DE now owns 7,955 shares of the business services provider’s stock worth $574,000 after acquiring an additional 992 shares in the last quarter. Karp Capital Management Corp bought a new stake in WageWorks during the first quarter worth about $695,000. State of Tennessee Treasury Department boosted its stake in WageWorks by 17.8% during the first quarter. State of Tennessee Treasury Department now owns 34,480 shares of the business services provider’s stock worth $2,493,000 after acquiring an additional 5,204 shares in the last quarter. Finally, Stevens Capital Management LP boosted its stake in WageWorks by 7.5% during the first quarter. Stevens Capital Management LP now owns 3,407 shares of the business services provider’s stock worth $246,000 after acquiring an additional 237 shares in the last quarter.
Several equities research analysts recently commented on the stock. BidaskClub raised shares of WageWorks from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research downgraded shares of WageWorks from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 target price on shares of WageWorks in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $80.04.
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WageWorks, Inc. (NYSE WAGE) opened at 60.70 on Friday. WageWorks, Inc. has a 52 week low of $55.65 and a 52 week high of $80.50. The stock has a 50 day moving average of $58.60 and a 200 day moving average of $67.80. The company has a market cap of $2.41 billion, a P/E ratio of 55.43 and a beta of 0.84.
WageWorks (NYSE:WAGE) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.11). WageWorks had a net margin of 9.60% and a return on equity of 9.52%. The firm had revenue of $119.90 million during the quarter, compared to the consensus estimate of $119.18 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. The firm’s quarterly revenue was up 36.7% on a year-over-year basis. On average, analysts expect that WageWorks, Inc. will post $1.75 earnings per share for the current year.
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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