Los Angeles Capital Management & Equity Research Inc. reduced its position in WageWorks Inc. (NYSE:WAGE) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,405 shares of the company’s stock after selling 400 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in WageWorks were worth $503,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in WAGE. BlackRock Group LTD increased its stake in WageWorks by 22.3% in the first quarter. BlackRock Group LTD now owns 47,123 shares of the company’s stock worth $2,385,000 after buying an additional 8,580 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in WageWorks during the first quarter worth $237,000. JPMorgan Chase & Co. increased its stake in WageWorks by 81.7% in the first quarter. JPMorgan Chase & Co. now owns 106,183 shares of the company’s stock worth $5,374,000 after buying an additional 47,730 shares during the last quarter. Suntrust Banks Inc. increased its stake in WageWorks by 1.0% in the second quarter. Suntrust Banks Inc. now owns 7,754 shares of the company’s stock worth $462,000 after buying an additional 76 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in WageWorks by 499.9% in the first quarter. UBS Asset Management Americas Inc. now owns 138,574 shares of the company’s stock worth $7,014,000 after buying an additional 115,475 shares during the last quarter.
WageWorks Inc. (NYSE:WAGE) traded down 0.13% during trading on Friday, hitting $63.07. The stock had a trading volume of 224,951 shares. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 103.39 and a beta of 0.91. WageWorks Inc. has a 12 month low of $38.99 and a 12 month high of $65.43. The stock has a 50 day moving average price of $61.58 and a 200-day moving average price of $56.90.
WageWorks (NYSE:WAGE) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The business earned $87.70 million during the quarter, compared to analysts’ expectations of $87.42 million. WageWorks had a return on equity of 10.39% and a net margin of 6.58%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. On average, equities analysts predict that WageWorks Inc. will post $1.40 EPS for the current year.
WAGE has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price objective (up previously from $60.00) on shares of WageWorks in a research report on Thursday, August 11th. Zacks Investment Research downgraded WageWorks from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. JMP Securities reiterated a “buy” rating on shares of WageWorks in a research report on Wednesday, August 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $69.00 price objective (up previously from $59.00) on shares of WageWorks in a research report on Thursday, June 9th. Finally, Standpoint Research boosted their price objective on WageWorks from $59.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, June 9th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. WageWorks currently has a consensus rating of “Buy” and an average target price of $64.14.
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 and other employee benefits.
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