Fmr LLC decreased its stake in shares of WageWorks, Inc. (NYSE:WAGE) by 59.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,337,409 shares of the business services provider’s stock after selling 2,000,605 shares during the quarter. Fmr LLC owned approximately 3.37% of WageWorks worth $89,874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of WAGE. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of WageWorks by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 139 shares during the last quarter. First Mercantile Trust Co. increased its holdings in shares of WageWorks by 20.7% in the 2nd quarter. First Mercantile Trust Co. now owns 1,925 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 330 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of WageWorks by 8.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,819 shares of the business services provider’s stock valued at $132,000 after acquiring an additional 134 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in shares of WageWorks by 85.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,964 shares of the business services provider’s stock valued at $199,000 after acquiring an additional 1,364 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of WageWorks in the 1st quarter valued at about $200,000.

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WageWorks, Inc. (NYSE WAGE) opened at 63.60 on Thursday. The stock has a market cap of $2.52 billion, a P/E ratio of 58.08 and a beta of 0.84. WageWorks, Inc. has a 1-year low of $55.65 and a 1-year high of $80.50. The company’s 50-day moving average price is $59.84 and its 200-day moving average price is $66.03.

WageWorks (NYSE:WAGE) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.11). The firm had revenue of $119.90 million during the quarter, compared to the consensus estimate of $119.18 million. WageWorks had a net margin of 9.60% and a return on equity of 9.52%. The firm’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. Analysts predict that WageWorks, Inc. will post $1.75 EPS for the current year.

A number of research analysts have recently commented on the company. Zacks Investment Research upgraded WageWorks from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. BidaskClub upgraded WageWorks from a “strong sell” rating to a “sell” rating in a report on Thursday, September 28th. Stifel Nicolaus restated a “buy” rating and set a $85.00 price target on shares of WageWorks in a research note on Monday, July 17th. Finally, Needham & Company LLC restated a “buy” rating and set a $82.00 price target on shares of WageWorks in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $80.30.

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.

Institutional Ownership by Quarter for WageWorks (NYSE:WAGE)

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