Swiss National Bank Grows Position in WageWorks, Inc. (WAGE)
Swiss National Bank lifted its stake in WageWorks, Inc. (NYSE:WAGE) by 9.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,100 shares of the business services provider’s stock after buying an additional 5,900 shares during the period. Swiss National Bank owned about 0.17% of WageWorks worth $4,442,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted 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 during the period. Vanguard Group Inc. lifted 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 during the period. TimesSquare Capital Management LLC lifted 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 during the period. Eagle Asset Management Inc. lifted its stake in shares of WageWorks by 169.2% in the second quarter. Eagle Asset Management Inc. now owns 966,101 shares of the business services provider’s stock valued at $64,921,000 after buying an additional 607,164 shares during the period. Finally, Stephens Investment Management Group LLC lifted 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 during the period.
WageWorks, Inc. (WAGE) opened at 58.80 on Friday. WageWorks, Inc. has a 52 week low of $55.65 and a 52 week high of $80.50. The firm’s 50-day moving average is $58.60 and its 200-day moving average is $67.80. The company has a market cap of $2.33 billion, a PE ratio of 53.70 and a beta of 0.84.
WageWorks (NYSE:WAGE) last issued its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.11). WageWorks had a return on equity of 9.52% and a net margin of 9.60%. The firm had revenue of $119.90 million for the quarter, compared to the consensus estimate of $119.18 million. During the same period last year, the company posted $0.36 EPS. The business’s revenue was up 36.7% on a year-over-year basis. On average, analysts expect that WageWorks, Inc. will post $1.75 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the stock. BidaskClub cut shares of WageWorks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 14th. Zacks Investment Research cut shares of WageWorks from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th. 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 research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $80.04.
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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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