Columbia Partners L L C Investment Management continued to hold its position in WageWorks, Inc. (NYSE:WAGE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,327 shares of the business services provider’s stock at the end of the second quarter. Columbia Partners L L C Investment Management owned about 0.05% of WageWorks worth $1,365,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of WageWorks by 8.1% during the 1st quarter. State Street Corp now owns 844,713 shares of the business services provider’s stock worth $61,076,000 after purchasing an additional 63,265 shares during the period. Cohen Capital Management Inc. increased its holdings in shares of WageWorks by 45.3% during the 2nd quarter. Cohen Capital Management Inc. now owns 9,441 shares of the business services provider’s stock worth $634,000 after purchasing an additional 2,943 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of WageWorks by 6.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the business services provider’s stock worth $1,082,000 after purchasing an additional 1,000 shares during the period. Sei Investments Co. increased its holdings in shares of WageWorks by 27.6% during the 1st quarter. Sei Investments Co. now owns 97,044 shares of the business services provider’s stock worth $7,016,000 after purchasing an additional 21,007 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of WageWorks by 61.4% during the 1st quarter. Bank of America Corp DE now owns 314,522 shares of the business services provider’s stock worth $22,739,000 after purchasing an additional 119,614 shares during the period.
WageWorks, Inc. (WAGE) traded up 0.17% on Wednesday, hitting $58.95. 7,023 shares of the stock traded hands. The firm’s 50 day moving average is $58.60 and its 200 day moving average is $67.80. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 53.84 and a beta of 0.84. WageWorks, Inc. has a 52 week low of $55.65 and a 52 week high of $80.50.
WageWorks (NYSE:WAGE) last posted its earnings results on Tuesday, August 1st. The business services provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.11). The company had revenue of $119.90 million for the quarter, compared to analyst estimates of $119.18 million. WageWorks had a return on equity of 9.52% and a net margin of 9.60%. The business’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 EPS. Equities analysts anticipate that WageWorks, Inc. will post $1.75 earnings per share for the current year.
In other news, CEO Joseph L. Jackson sold 495,148 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $69.25, for a total transaction of $34,288,999.00. Following the completion of the sale, the chief executive officer now owns 103,363 shares in the company, valued at approximately $7,157,887.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Edgar O. Montes sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now owns 71,895 shares of the company’s stock, valued at approximately $4,978,728.75. The disclosure for this sale can be found here. Company insiders own 3.54% of the company’s stock.
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Several research analysts have recently issued reports on WAGE shares. BidaskClub downgraded shares of WageWorks from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 14th. Zacks Investment Research downgraded shares of WageWorks from a “strong-buy” rating to a “hold” rating in a report on Friday, July 7th. Finally, Stifel Nicolaus restated a “buy” rating and set a $85.00 price objective on shares of WageWorks in a report on Monday, July 17th. Two 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’s stock. WageWorks currently has an average rating of “Hold” and an average target price of $80.04.
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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