Strs Ohio raised its holdings in shares of Wageworks Inc (NYSE:WAGE) by 97.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,900 shares of the business services provider’s stock after acquiring an additional 10,300 shares during the period. Strs Ohio owned about 0.05% of Wageworks worth $1,061,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Royce & Associates LP grew its holdings in shares of Wageworks by 30.0% in the first quarter. Royce & Associates LP now owns 1,290 shares of the business services provider’s stock worth $49,000 after purchasing an additional 298 shares during the last quarter. Quantamental Technologies LLC grew its holdings in shares of Wageworks by 109.6% in the first quarter. Quantamental Technologies LLC now owns 4,587 shares of the business services provider’s stock worth $173,000 after purchasing an additional 2,399 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Wageworks in the first quarter worth approximately $226,000. OLD National Bancorp IN bought a new position in shares of Wageworks in the first quarter worth approximately $227,000. Finally, Private Advisors LLC bought a new position in shares of Wageworks in the first quarter worth approximately $248,000. Institutional investors and hedge funds own 97.93% of the company’s stock.
Several brokerages have recently issued reports on WAGE. William Blair cut shares of Wageworks from an “outperform” rating to a “market perform” rating in a report on Thursday, June 27th. Zacks Investment Research reaffirmed a “hold” rating on shares of Wageworks in a research note on Saturday, June 29th. Stifel Nicolaus lowered Wageworks from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research note on Monday, July 15th. SunTrust Banks lowered Wageworks from a “buy” rating to a “hold” rating in a research note on Friday, June 28th. Finally, Wells Fargo & Co lowered Wageworks from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $45.00 to $50.00 in a research note on Tuesday, May 7th. Six equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of $54.50.
Wageworks (NYSE:WAGE) last announced its quarterly earnings results on Friday, June 28th. The business services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). Wageworks had a return on equity of 3.58% and a net margin of 4.10%. The business had revenue of $118.23 million during the quarter, compared to analysts’ expectations of $126.19 million. Sell-side analysts anticipate that Wageworks Inc will post 1.08 EPS for the current fiscal year.
WageWorks, Inc is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits.
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