Comerica Bank lifted its stake in shares of WageWorks, Inc. (NYSE:WAGE) by 25.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,669 shares of the business services provider’s stock after purchasing an additional 10,649 shares during the quarter. Comerica Bank owned about 0.13% of WageWorks worth $3,308,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aperio Group LLC raised its position in WageWorks by 93.6% in the second quarter. Aperio Group LLC now owns 18,600 shares of the business services provider’s stock worth $1,250,000 after acquiring an additional 8,994 shares in the last quarter. US Bancorp DE raised its position in WageWorks by 39.4% in the second quarter. US Bancorp DE now owns 11,091 shares of the business services provider’s stock worth $745,000 after acquiring an additional 3,136 shares in the last quarter. BB&T Corp raised its position in WageWorks by 9.5% in the second quarter. BB&T Corp now owns 4,414 shares of the business services provider’s stock worth $297,000 after acquiring an additional 384 shares in the last quarter. Russell Investments Group Ltd. raised its position in WageWorks by 26.1% in the second quarter. Russell Investments Group Ltd. now owns 336,117 shares of the business services provider’s stock worth $22,588,000 after acquiring an additional 69,572 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in WageWorks by 5.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,800 shares of the business services provider’s stock worth $591,000 after acquiring an additional 430 shares in the last quarter.
WageWorks, Inc. (NYSE:WAGE) traded up $0.65 during midday trading on Monday, reaching $62.85. The company’s stock had a trading volume of 98,600 shares, compared to its average volume of 292,618. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.41. The firm has a market cap of $2,491.19, a P/E ratio of 50.28, a PEG ratio of 3.36 and a beta of 0.92. WageWorks, Inc. has a 12-month low of $56.90 and a 12-month high of $80.50.
WageWorks (NYSE:WAGE) last posted its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. The firm had revenue of $115.70 million for the quarter, compared to the consensus estimate of $117.09 million. WageWorks had a return on equity of 9.60% and a net margin of 9.87%. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. research analysts forecast that WageWorks, Inc. will post 1.25 earnings per share for the current fiscal year.
In other WageWorks news, insider Kimberly L. Wilford sold 50,000 shares of WageWorks stock in a transaction dated 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 transaction, the insider now owns 93,238 shares of the company’s stock, valued at approximately $5,792,876.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.54% of the company’s stock.
Several analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of WageWorks in a report on Friday, October 6th. Zacks Investment Research downgraded WageWorks from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. BidaskClub upgraded WageWorks from a “strong sell” rating to a “sell” rating in a report on Thursday, September 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $80.00 price objective (down previously from $85.00) on shares of WageWorks in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $79.75.
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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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