WageWorks, Inc. (WAGE) COO Edgar O. Montes Sells 50,000 Shares

WageWorks, Inc. (NYSE:WAGE) COO Edgar O. Montes sold 50,000 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $69.25, for a total transaction of $3,462,500.00. Following the transaction, the chief operating officer now owns 71,895 shares in the company, valued at $4,978,728.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

WageWorks, Inc. (NYSE WAGE) opened at 65.70 on Tuesday. The firm has a 50 day moving average of $70.30 and a 200 day moving average of $72.55. WageWorks, Inc. has a 12-month low of $55.65 and a 12-month high of $80.50. The firm has a market capitalization of $2.45 billion, a P/E ratio of 97.48 and a beta of 0.87.

WageWorks (NYSE:WAGE) last announced its earnings results on Thursday, May 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. WageWorks had a return on equity of 9.85% and a net margin of 6.33%. The firm had revenue of $125 million during the quarter, compared to analyst estimates of $122.08 million. During the same period last year, the firm posted $0.33 EPS. The business’s revenue was up 43.7% compared to the same quarter last year. On average, analysts forecast that WageWorks, Inc. will post $1.77 EPS for the current fiscal year.

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Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of WageWorks by 144,950.2% in the first quarter. BlackRock Inc. now owns 4,392,119 shares of the business services provider’s stock valued at $317,551,000 after buying an additional 4,389,091 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of WageWorks by 6.0% in the first quarter. Vanguard Group Inc. now owns 3,254,360 shares of the business services provider’s stock valued at $235,290,000 after buying an additional 183,172 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in shares of WageWorks by 7.9% in the first quarter. TimesSquare Capital Management LLC now owns 1,657,169 shares of the business services provider’s stock valued at $119,813,000 after buying an additional 120,860 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in shares of WageWorks by 4.9% in the first quarter. Stephens Investment Management Group LLC now owns 913,882 shares of the business services provider’s stock valued at $66,074,000 after buying an additional 42,850 shares in the last quarter. Finally, State Street Corp raised its stake in shares of WageWorks by 8.1% in the first quarter. State Street Corp now owns 844,713 shares of the business services provider’s stock valued at $61,076,000 after buying an additional 63,265 shares in the last quarter. 96.47% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on WAGE shares. Zacks Investment Research upgraded shares of WageWorks from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Wednesday, May 10th. Wells Fargo & Company downgraded shares of WageWorks from an “outperform” rating to a “market perform” rating in a report on Monday, March 27th. TheStreet upgraded shares of WageWorks from a “c+” rating to a “b” rating in a report on Friday, May 5th. BidaskClub downgraded shares of WageWorks from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 14th. Finally, Stifel Nicolaus restated a “buy” rating and set a $85.00 target price on shares of WageWorks in a report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $78.37.

WageWorks Company Profile

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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