WageWorks, Inc. (WAGE) Shares Sold by Pinebridge Investments L.P.
Pinebridge Investments L.P. lowered its stake in shares of WageWorks, Inc. (NYSE:WAGE) by 13.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,561 shares of the business services provider’s stock after selling 2,302 shares during the quarter. Pinebridge Investments L.P.’s holdings in WageWorks were worth $883,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Advisor Group Inc. lifted its position in WageWorks by 10.8% during the 2nd quarter. Advisor Group Inc. now owns 1,594 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 156 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in WageWorks by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 139 shares during the period. First Mercantile Trust Co. lifted its position in WageWorks by 20.7% during the 2nd quarter. First Mercantile Trust Co. now owns 1,925 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 330 shares during the period. Riverhead Capital Management LLC lifted its position in WageWorks by 85.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,964 shares of the business services provider’s stock valued at $199,000 after purchasing an additional 1,364 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its position in WageWorks by 3.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,275 shares of the business services provider’s stock valued at $220,000 after purchasing an additional 122 shares during the period.
Shares of WageWorks, Inc. (NYSE:WAGE) traded down $0.50 during trading hours on Friday, hitting $62.00. 148,308 shares of the company were exchanged, compared to its average volume of 276,566. The firm has a market cap of $2,457.49, a P/E ratio of 49.60, a price-to-earnings-growth ratio of 3.31 and a beta of 0.90. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.41. WageWorks, Inc. has a 1-year low of $56.90 and a 1-year high of $80.50.
WageWorks (NYSE:WAGE) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $115.70 million for the quarter, compared to the consensus estimate of $117.09 million. WageWorks had a net margin of 9.87% and a return on equity of 9.60%. WageWorks’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. equities analysts anticipate that WageWorks, Inc. will post 1.25 earnings per share for the current year.
WAGE has been the topic of a number of research reports. Stifel Nicolaus restated a “buy” rating and set a $80.00 target price (down from $85.00) on shares of WageWorks in a research report on Thursday, November 9th. Needham & Company LLC reiterated a “buy” rating and issued a $82.00 price target on shares of WageWorks in a research report on Friday, October 6th. ValuEngine upgraded shares of WageWorks from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of WageWorks from a “sell” rating to a “hold” rating and set a $70.00 price target on the stock in a research report on Tuesday, November 14th. Finally, BidaskClub upgraded shares of WageWorks from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. WageWorks has a consensus rating of “Hold” and an average price target of $79.75.
In related news, Director John William Larson sold 30,500 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $63.76, for a total value of $1,944,680.00. Following the sale, the director now directly owns 42,930 shares in the company, valued at approximately $2,737,216.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kimberly L. Wilford sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $62.13, for a total transaction of $3,106,500.00. Following the sale, the insider now owns 93,238 shares in the company, valued at $5,792,876.94. The disclosure for this sale can be found here. Company insiders own 3.54% of the company’s stock.
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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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